Gwanak-gu, a district in Seoul, just held its first Startup Scale-up Demo Day. This event was set up by Gwanak-gu to help promising startups from all over Korea get money for their businesses and attract investors. It’s the first of four such events planned for this year.
The demo day saw Riflex Science take first place, winning KRW 50 million This company develops RNA treatments for bone and muscle diseases. WePair, which creates software for auto repair shops, came in second and received KRW 40 million. Third place went to Taxtinum, a tax refund platform for small and medium-sized businesses, which got KRW 30 million. All other companies that presented also received an award from the Gwanak District Mayor.
Other startups that presented included 912 Communication, working on technology to protect voice data privacy and prevent misuse of AI voice cloning. Carwashlove provides a contactless mobile car wash service, looking to fix problems with current car washes like long waits and high prices. Eco SCT is an eco-friendly company that chemically recycles hard-to-recycle plastic waste into valuable products. Millennial dining develops a healthy, plant-based steak that tastes like Korean beef but is high in protein and low in calories. Lastly, Clinkers offers a platform for foreign workers with financial services like loans, money transfers, and insurance, plus HR and visa help.
Gwanak-gu helps startups through its Gwanak S-Valley program to build a strong startup environment. Companies in Gwanak S-Valley have seen their income grow about 68 times, and they’ve attracted over KRW 199.8 billion in total investments. The district also plans to open the first Small and Medium Venture Business Agency among local districts this July.
