Samsung Electronics South Korean tech giant announced that it will support five startups that were created by Samsung employees as part of the company’s C-Lab Inside in-house incubation program.
Started in December 2012, C-Lab Inside nurtures employees’ innovative ideas while instilling a corporate culture in which creativity is at the fore. Since 2015, Samsung has been supporting successful C-Lab projects that demonstrate great market potential and facilitating their launch as startups under the C-Lab spin-off policy.
The five new startups include:
Blockbuster is a video editing application that 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 that allows analogue 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. For instance, the app’s extensive ‘search’ mode provides word information from a range of search engines and dictionaries that are directly linked to the app.
Haxby is a smart study note service that 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 that 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 or in low-lit places without having to worry about skin ageing or sunburn, and allows for brightness and colour adjustment via the app.
RootSensor is a 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, where it provides a UV monitoring system that records accumulated UV exposure and provides information on skin condition and vitamin D production.
“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.”
Samsung also provides a five-year window during which employees who launch startups can return to their jobs if their endeavours prove unsuccessful, meaning that individuals can embark on their entrepreneurial projects without having to fear that they are risking their careers.
This gives the impetus and confidence to the employees to pursue their entrepreneurial projects without risking their careers
This policy has helped 163 employees have established 45 startups since the inception of the C-Lab program. Not only have these companies raised 45 million USD in funding over the years, but their value has more than tripled compared to the time at which they were spun off.
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