Robotics of Things (ROT) platform LUXROBO has won this year’s TOP 100 Startup Search: Korea qualifiers.
In a nutshell, this startup allows users to use electronic modules no bigger than LEGO pieces to construct their IoT device; each module will represent one function.
To give you an example, a smart thermostat can be built out of six modules. All you need is a WiFi module, an LCD display module, a dimmer module, a battery module, a temperature module and a servo module. Link them all together and volia! – your very own smart device!
For the prize, LUXROBO will be awarded a booth free-of-charge at the Echelon Asia Summit 2016 tech conference; as well as receive S$500 (US$360).
The event was held at the local startup hub D.CAMP, and was sponsored by the Korea Trade-Investment Promotion Agency (KOTRA) , and was held in partnership with the Korea-focussed tech and startup media portal BeSUCCESS.
LUXROBO was pitted against 14 other startups spreading across a range of verticals including SaaS, fintech, IoT, e-commerce, as well as on-demand services.
Also Read: 4 cool O2O startups to watch in Korea
Each startup was allocated three minutes to pitch, along with five minutes for Q&A.
The other startups that participated in the competition were:
1. Miso – on-demand cleaning service
2. Konolabs – scheduling assistant mobile app
3. C-Square Company – events hosting and booking platform
4. Applr – e-commerce marketplace
5. SOSO H&C– smart wearable to track brain and heart activity.
6. MM Ventures – e-commerce marketplace
7. ANYRACTIVE – IoT platform for classes
8. Again Twenty Co., Ltd. – O2O medical tourism platform
9. smartone International Inc. – O2O ordering device for businesses
10. Vital Smith – ovulation tracking device and app
11. Kivic Inc. – smart HUD display
12. Arcinteractive Inc. – IoT panorama camera system
13. Easi6 – on-demand chauffeur platform
14. MoneyTag – e-remittance service
The competition was presided over by a panel of four esteemed judges; all industry veterans in South Korea’s startup ecosystem. They were:
1. Shina Chung, Partner, K Cube Ventures
2. Jung-Hee Ryu, Partner & CEO, Futureplay
3. Kim Siwan, Senior Manager of Investment, D. CAMP
4. Kim Haak Jin, Assistant Manager, Global Business Start-up Team, KOTRA
Overall, the judges were impressed by the quality of the startups that presented.
“It was awesome, they showed off their strong points and vision, as well as business models which can really work in overseas markets,” said Kim Haak Jin, Assistant Manager at KOTRA.
But when it came down to one outstanding startup, robots stole the hearts of the judges.
“In Korea, lots of people want to build robotics, but don’t know how. For LUXROBO, they had the tools and modules to build a strong robotics system using a LEGO-style proces,” said Kim.
CEO of LUXROBO SangHun Oh/Hun was ecstatic over his team’s win.
“We are very excited to go to Singapore in June; we practiced our pitches a lot to fit the three minutes format,” said Hun.
There is still, however, a long journey ahead of LUXROBO before it really hits pay dirt.
“Right now, we are looking for partners for funding; there are patents pending too. We hope to secure the patents and produce the actual product by the end of this year.”
For the rest of the startups, the fight is not over as they may still stand a chance to pitch at the TOP 100 competition and exhibit in the Echelon Asia Summit 2016, once the judges’ scores from across all 14 cities’ qualifiers have been be tabulated to determine the ultimate TOP100.
The final 100 startups will be selected to showcase at the annual Echelon Asia Summit to be held in Singapore from June 15-16. Secure your tickets now to witness the TOP100 battle it out this June.