IT&BASIC Receives 1.5 Billion-Won Credit Guarantee Funds

IT-BASIC

IT&BASIC, the provider of real-time audience response service Symflow, was chosen as the last month’s ‘First Penguin’ (“celebration of risk taking”) company to receive 1.5 billion-won (about 1,308,540.00 USD) credit guarantee funds over the next three years.

The ‘First Penguin’ is a credit guarantee funds support system that provides up to 3 billion won (about 2,617,080.00 USD) to the selected startup businesses whose creativity and prospective technical skills are expected to bloom in the market.

According to the Incheon branch of Korea Credit Guarantee Fund, the nomination of IT&BASIC can be largely attributed to its efficient distributed processing system, as well as the real-time data processing techniques. Furthermore, the company’s trademark Symflow is expected to revolutionize both domestic and foreign industries with its smart technology.

With Symflow, the users can actively participate in Q&A sessions and surveys during conferences, lectures or training programs, and their responses are then automatically recorded and converted to data for future references. Recently, Symflow was employed in this year’s presidential debate in Korea, in order to record and share the responses of the candidates. It also serves for educational purposes, such as flipped learning.

“With the recent ‘First Penguin’ nomination, we are honored that Symflow’s high technical skills and its potential business value are finally being recognized. We hope this will help us embark our business launchings in Japan by the end of the year,” Kyeong-wook MIN, the CEO of IT&BASIC, commented.

Symflow so far has secured 13,000 users and 3 million recorded responses within two years since its launching. Meanwhile, IT&BASIC has won 2nd place in ‘Next Startup Awards’ and 1st place in ‘Start-up NEST’, further proving its potential in the business world.

 

 

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Kelly is a student at Georgetown University studying English and Spanish. You can always find her drinking coffee, reading latest articles and watching netflix. Kelly can be reached at kelly.park@techforkorea.com.

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