Firms tackling jobs for the disabled, vulnerable groups and resource recycling
AI-integrated early-stage companies get focused support
Shinsegae Information & Communication (Shinsegae I&C) announced Tuesday that it has selected eight companies through its Mini Contest social-economy enterprise support program and disbursed 90 million won ($65,400) in commercialization funding.
The initiative underscored the company's focus on identifying early-stage innovative startups that combine AI and other emerging IT technologies with solutions to environmental and social problems, and on helping them build a stable foundation for commercialization. Through the Mini Contest, which has run continuously since 2015, Shinsegae I&C provides a springboard for social-economy enterprises to turn innovative ideas into viable businesses.
This year, the company restructured its selection criteria and expanded support to concentrate resources on early-stage companies with high growth potential. It broadened eligibility to include startups and ventures certified as social ventures, while significantly increasing both the number of recipients and the funding amount — from five companies and 60 million won the previous year to eight companies and 90 million won.
The grant ceremony was held Monday at Shinsegae I&C's headquarters in Gangnam-gu, Seoul, and was attended by CEO Yang Yun-ji, Korea Social Enterprise Promotion Agency division head Seo Jong-sik and Social Economy Revitalization Support Center Chairperson Lee Eui-young, among others.
Among this year's featured recipients is Flip, which operates "Flip Flower," a flower subscription service. The company earned recognition for its technological edge in integrating AI based on a flower distribution information system to forecast shipment volumes and prices and derive optimal product configurations — all within a structure designed to provide professional training and employment opportunities for deaf florists.
A number of technology-driven companies tackling social problems were also selected. The recipients include Bokji Plan, which offers barrier-free marine tourism using water wheelchairs; Bom Squared, whose solution "California" converts the on-site expertise of elderly skilled workers into AI digital assets; Sinerz, which supports sports education for vulnerable groups through AI video archery coaching platform "Sportedu"; and Our Story, which provides "Ready Job," an AI-powered job placement service tailored to at-risk youth.
In the areas of resource recycling and improving convenience for vulnerable groups, funding also goes to MRP, which upcycles discarded clothing using the sewing and repair skills of artisans; Orot Planet, whose "Unistep" service provides real-time AI multilingual subtitles for the deaf and hard of hearing; and Teva, which combines a barrier-free swimming pool, "Sol Pool," with an AI posture analysis solution.
"Since 2015, we have continued to support social-economy enterprises through the Mini Contest so their ideas can take root as real businesses," CEO Yang said. "We hope these early-stage companies, armed with innovative technology and ideas, will use this opportunity as a springboard to strengthen their commercialization capabilities and establish themselves in the market."
woo@heraldcorp.com
