South Korean tech giant Samsung Electronics has announced support for five startups that were set up by its employees as part of the company’s C-Lab Inside in-house incubation program.
The C-Lab was started in December 2012. And from 2015, the company also started supporting C-Lab projects that have good market potential and helped them in launching as startups under the C-Lab spin-off policy. It provides startups with investment and business consulting.
Samsung today said that it would support five startups: Blockbuster, Haxby, Hyler, RootSensor and SunnyFive.
Blockbuster is a video editing application. It allows content creators to easily apply computer graphics (CG) and 3D effects to videos with their smartphones and that utilizes the patented Blockbuster algorithm to generate realistic 3D CG effects by converting 2D scenes into 3D layers.
Hyler is a smart highlighter. It allows analog text to be digitized and transferred to mobile devices. By highlighting with Hyler, users can easily collect information and interact with it through the Hyler app.
Haxby is a smart study note service. It records incorrect answers from workbooks and recommends worksheets based on the learner’s ability level. Features an AI algorithm that identifies the user’s competence level for each subject and provides customized worksheets to improve learning.
SunnyFive is a window-shaped lighting device. It produces artificial sunlight, allowing the user to enjoy the full spectrum of light produced by the sun’s natural passage through the sky during the day. Helps users synthesize vitamin D while they are indoors.
Root Sensor is a new type of sensor that records daily UV exposure and utilizes its wide incident angle to minimize detection loss. Can be integrated into wearable devices, smart cars and smart buildings.
Samsung has helped 45 startups so far
“Including these five companies, a total of 45 C-Lab alumni startups have been created as a result of the C-Lab program,” relates Inkuk Hahn, Vice President and Head of the Creativity & Innovation Center at Samsung Electronics.
“These results illustrate Samsung’s commitment to investing in employee-driven innovation and promoting the South Korean startup ecosystem. Going forward, we will continue working to unlock Samsung employees’ potential for creative innovation while encouraging the entrepreneurial spirit.”
The thing about Samsung's support for these startups is the tech giant provides a five-year window within which its employees who launch startups can return to their jobs if their startups aren't successful.
This gives the impetus and confidence to the employees to pursue their entrepreneurial projects without risking their careers.
This liberal policy has helped 163 employees establish 45 startups since the inception of the C-Lab program. These companies have reportedly raised $45 million in funding over the years.
(Via SamMobile)
