On July 21st, CNT Tech (CEO: Hwasung Jeon) announced its selection of 11 companies for its BIGdata+STARTup, a competition for early start-ups based on data-utilization. The competition, hosted by Gyeonggi Province and Gyeonggi Content Agency, initially selected 20 teams based on their applications and then selected 11 finalists based on their presentations. The 11 finalists faced a tough 8.8:1 competition and include Strix (a big data-based power demand forecasting system), Platfarm (an intelligent emoticon provider), and Anolzzang (an education platform for infants and toddlers). The finalists will be awarded 100 million Won and undergo an accelerating program, where they will receive 4 months of exclusive mentoring, networking opportunities with large companies, lectures, workspace, and more. On Demo Day in November, the 11 teams will receive final evaluations of their achievements.
Jongseok Park, Chief Data Officer of Gyeonggi Province, commented, “I expect the start-ups selected through this competition to mature into future leaders of the big data industry.” Yee-Eun Choi, CEO of CNT Tech, also expressed enthusiasm for these companies with high potential and indicated plans to continue to actively support their growth.