Six standouts in chips, batteries, AI honored at Startup Nation Korea

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Six standouts in chips, batteries, AI honored at Startup Nation Korea

Published: 11 Sep. 2024, 19:08 Updated: 11 Sep. 2024, 19:34

LEE JAE-LIM
lee.jaelim@joongang.co.kr

The JoongAng Ilbo, KAIST and Seoul National University (SNU) hosted the annual International Symposium on "Korea, the Country of Innovation and Start-ups," also known as “Startup Nation Korea 2024" on Wednesday at SNU's campus in southern Seoul. From fourth to eighth from left are Senior Secretary to the President for Science and Technology Park Sang-ook, SNU President Ryu Hong-lim, JoongAng Holdings Chairman Hong Seok-hyun, KAIST President Lee Kwang-hyung and National Research Council of Science and Technology Chairman Kim Bok-chul. [KIM KYUNG-ROK]

Six startups making rapid technological headway in multiple sectors were bestowed with honors at an annual startup conference co-hosted by the JoongAng Ilbo, KAIST and Seoul National University (SNU).

The companies involved in cutting-edge technologies from chip design, secondary batteries, aerospace and medical AI were put in the limelight at this year’s startup symposium, also known as “Startup Nation Korea 2024.”

The Korean Innovative Startup Awards ceremony took place at the convention hall of Seoul National University’s Global Education Center for Engineers in southern Seoul on Wednesday.

The six designated startups beat 64 applicants who had applied for the third edition of Korean Innovative Startup Awards.

The Minister of Science and ICT presented an award to AI chip design startup MetisX.

The company, co-founded by SNU graduate Jin Kim and Kim Do-hun, develops solutions for semiconductors tailored for processing large-scale data based on Compute Express Link (CXL) technology, an interface designed to boost the efficiency of processors.

The emergence of OpenAI's ChatGPT sparked a global race to develop large language models and, in turn, revitalized multiple interconnected industries such as cloud, data centers and semiconductors.

CXL controllers aim to drastically reduce data movement using less power and lower latency.

The global market size of CXL controller intellectual property is expected to grow 37.6 percent per year to reach $892.3 million by 2030.

MetisX plans to expand to the global market, utilizing its technology to funnel chip processors and cloud service providers, and aims to generate more than 2 trillion won ($1.5 billion) of revenue globally.

The Science Minister also presented an award to Standard Energy, which designs and manufactures large-scale secondary batteries for energy storage systems (ESS).

The battery company developed the industry’s first vanadium-ion battery for ESS, which enables faster charging and higher energy efficiency compared to prior secondary batteries. Moreover, it resolves the safety issues related with lithium-ion batteries as it has zero risk of ignition.

The United States and the European Union lead the global ESS market, with the former government currently setting a mid- to long-term ESS road map for investments in the field to prevent renewable energy from introducing vulnerabilities to the power grid.

KAIST President Lee Kwang-hyung presented an award to biotech startup KoBioLabs.

The microbiome is the collection of microbes that naturally live within human bodies. It is associated with a wide range of conditions such as obesity, diabetes, depression, autism and cancer.

The company is currently conducting clinical trials for microbial substances targeting autoimmune diseases.

SNU's president presented an award to Perigee Aerospace, an orbit rocket manufacturer that specializes in small launch vehicles.

KAIST graduate Yoon Shin founded the company to address the growing shortage of launch vehicles and resulting backlog of orders. Shin discovered a niche market for customized launch services for small satellites.

Its flagship Blue Whale 1 is an orbital launch vehicle capable of placing a 200-kilogram (441-pound) payload. The vehicle is currently undergoing flight tests in Jeju and preparing for commercialization next year. The company is tapping into the market globally through partnerships with international space companies such as Swedish Space Corporation and the Philippine Space Agency.

The JoongAng Holdings chairman honored Rznomics, a biopharmaceutical company that develops RNA-based treatments for incurable and minor diseases.

Its RNA trans-splicing ribozyme-based anticancer gene therapy is currently undergoing clinical trials for primary liver cancer and glioblastoma, having received approval from both Korea’s Ministry of Food and Drug Safety and the U.S. Food and Drug Administration. It is also engaged in technology validation and clinical collaborations with global pharmaceutical companies for potential technology transfer.

The chairman of the National Research Council of Science and Technology recognized MedIn Tech an AI-based startup in medical imaging analysis and diagnosis.

The company plans to launch its AI-based electric digestive endoscopy system, the industry’s first, by next year, targeting global markets in Southeast Asia as well as North and South America.

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]