Samsung and Daegu-Gyeongbuk Creative Economy Innovation Center promoting local startups in S. Korea
While the Indian government promoting “vocal for local” initiative to grow the local startups, Samsung and Daegu-Gyeongbuk Creative Economy Innovation Center are actively supporting the Korean startups with innovative technologies and excellent ideas,
According to the official schedule, the first program is the 12th ‘C-Lab Accelerator Program’ with the Daegu Creative Economy Innovation Center. The C Lab unites Samsung’s internal venture program, which has been operating since 2014, and the center’s intensive know-how and network, and is considered one of the representative accelerator programs in Daegu.
Any corporate company within 7 years of founding having excellent ideas or technologies without region or field restrictions can apply. The recruitment deadline is May 20th, and a total of 10 companies are scheduled to be selected.
The final selected companies receive support for:
- Commercialization support fund of 20 million won
- Free office space
- Education support for each company growth stage
- Participation in CES global exhibition
- Mentoring with Samsung experts
- Business connection
- Market development.
Adding to this, excellent companies can also get up to 500 million won per company through a 12 billion C-lab dedicated fund jointly created by Daegu City and Samsung, After document review and presentation evaluation, the final 12th company will be announced on June 18th.
For more information, please visit Daegu Startup Hub (DASH).
On the other hand, the second is the ’17th G-Star Dreamers’ with the Gyeongbuk Creative Economy Innovation Center. G-Star Dreamers is the representative accelerating program of the Gyeongbuk Creative Economy Innovation Center. The recruitment deadline is June 3rd, and a total of 10 companies are selected.
Companies selected as the 17th G-Star Dreamers receive support for:
- Customized programs for each field based on in-depth diagnosis
- Commercialization support fund of 20 million won
- Free office space △ CES global exhibition participation
- Samsung expert mentoring
- Business connection
- Market development.
Outstanding companies can use the 12 billion G-Star Dreamers fund established by Gyeongbuk Province and Samsung Electronics, and each company can receive up to 500 million won in rewards. After document review and in-depth face-to-face review, the final 17th company will be announced on June 29th.
For more information, please visit the website of the Gyeongbuk Center for Creative Economy and Innovation.
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Samsung’s executive chairman Jay Y. Lee (Lee Jae-yong in Korean) topped the Forbes 2024 Richest Korean list for the first time. On April 17, Forbes revealed that the Samsung boss is the richest in South Korea, with his assets increasing by $3.5 billion, bringing his total net worth to $11.5 billion.
Thanks to a rise in Samsung’s stocks, Samsung’s Lee jumped to the top of the Forbes 2024 Richest Korean list. Notably, the company’s stocks significantly hiked after the revelation that it’s developing high-bandwidth memory chips used in AI computing for NVIDIA.
Forbes 2023 Richest Korean, Kim Byung-ju, slipped to second this year with assets worth $9.7 billion. The third place went to Seo Jung-jin, honorary chairman of Celltrion, with assets of $7.5 billion.
Cho Jung-ho, chairman of Meritz Financial Group, ranked fourth with $6.2 billion, and Chung Mong-koo, honorary chairman of Hyundai Motor Group, was fifth with $4.6 billion.
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Samsung established an AI chip design-dedicated Advanced Processor Lab in Silicon Valley, US. Formerly known as the Advanced Institute of Technology, Samsung’s SAIT is said to have formed the new Lab to strengthen its AI chip R&D in the US.
BusinessKorea reports that the new Samsung Advanced Processor Lab to focus on developing next-gen AI semiconductor design assets in the US. The assets are said to be focused on the RISC-V area, which serves as a foundational design asset for semiconductor chip design.
Samsung’s initiative with RISC-V is interpreted as a move towards technological independence. Therefore, the company is expanding its R&D organization in Silicon Valley, aiming to enhance design capabilities to disrupt the market currently dominated by NVIDIA.
Amid the booming AI era, the market of advanced semiconductors is also expanding. Samsung has completed the development of its Mach-1 AI semiconductor and supplied prototypes to global firms including Korea’s Naver. The company has also started the development of Mach-2.
Under the CHIPS Act, Samsung received huge subsidies to boost investment in the US. It’s worth noting that the Biden govt awarded a 12% subsidy of Samsung’s total investment, which is significantly higher than Intel and TSMC’s subsidy.
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Samsung’s first 3nm Exynos 2500 chip could outpace Snapdragon 8 Gen 4 in power efficiency. Both chipsets will power the next-gen Galaxy flagships, scheduled for an early 2025 launch. Recent input suggests that Exynos is returning as a tough rival to Snapdragon.
The Exynos 2500 will be made on Samsung’s 2nd-gen 3nm process technology. The S24’s Exynos 2400 chipset impressed the industry with significant improvements over its predecessor. The company appears to be leveling up the game next year.
Thanks to the cutting-edge process node, Samsung’s next Exynos could finally surpass its Snapdragon counterpart in power efficiency. The company may utilize its advanced FOWLP in the Exynos 2500 to make it run at higher clock speeds at the same power consumption level.
Qualcomm is facing power efficiency concerns with its recent Snapdragon chips. Due to reduced efficiency, phone makers are forced to bring up to 5000mAh battery. Samsung apparently seized this opportunity to bring back its in-house Exynos back to the contest.
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