POSCO held its startup scouting and nurturing program “2024 IMP (Idea Market Place)” on September 4 at Pohang Change Up Ground. IMP is an event that POSCO has organized since 2011 to harness startups’ innovative ideas, technologies, and challenging spirit as a driving force for growth.
To date, POSCO has met with 10,524 startups and invited 167 of them to participate in IMP, investing 36.6 billion won in these ventures to spur growth. This year, 14 promising startups have also joined POSCO IMP. During the event, POSCO outlined the significance and future direction of IMP, along with strategies for mutual growth with the local community and the startup ecosystem.
2024 POSCO IMP Site / Source=IT Donga
At the 2024 POSCO IMP, the 14 startups selected this year presented their companies. Seong Yu-chang, CEO of Nanoratis, introduced a power-free novel material sensor solution for managing the quality and inventory of biopharmaceuticals. He emphasized that using this technology to control biopharmaceutical quality can reduce waste and enhance efficacy. Amist is developing eco-friendly, high-performance, low-temperature adhesive materials for mobility. Hwang Jong-won, CEO of Amist, announced plans to reduce overall carbon emissions during the adhesion process with this technology.
Park Jin-young, CEO of QD, is advancing LiDAR sensors—an essential technology for autonomous driving. By utilizing short-wave infrared quantum dot novel materials, he is enhancing LiDAR sensor performance while lowering production costs. Jang Eun-ji, Director of Open Lab Soddy, presented Aidrop, a decentralized mobile advertising network that provides users with data sovereignty and revenue, and advertisers with high-quality behavioral data. Kim Ki-su, CEO of Premtu, is developing a current collector—a critical material for next-generation secondary and solid-state batteries. By leveraging an Fe-based current collector and an ultra-thin process, he is reducing both battery weight and cost.
Jang Han-tteut, CEO of Faraday Dynamics, unveiled a high-torque-density servo motor that moves as precisely as human muscles. This product can be applied to almost all robots, helping to lower manufacturing costs and enabling them to move with human-like precision. Lim Dong-jun, CEO of Technomatrix, introduced a machine learning operations optimization solution designed to enable AI to continually learn on its own and deliver optimal performance. Jo Min-taek, CEO of AINUT, presented DE-A, a full-cycle inspection solution that enhances the quality of data for AI training by integrating statistical analysis into algorithms to help AI think more intelligently.
On-site of POSCO IMP 2024 Participating Startups’ Corporate Presentation / Source=IT Donga
Lee Seung-seop, CEO of A2Urs, developed Nano E droplets that deliver outstanding purification performance thanks to their electrical charge. They can be applied in air purifiers, humidifiers, and for preserving the freshness of plants and fruits. Lee Kyung-min, CEO of PlumD—a real-time avatar tracking company—has attracted attention with technology that enables anyone with just a webcam to become a virtual creator. Kim Yu-mi, CEO of Ium Bio, unveiled an anti-aging substance validation system using a killifish model, which reduces both the time and cost required for developing anti-aging drugs.
Aioncell introduced its single-cell long-read sequencing technology and plans to develop a chronic disease research platform and early diagnostic solutions by leveraging its genomic big data platform and genomic data. Poscore, led by CEO Kim Hyung-jin, produces high-performance magnetic powder and motor cores from steel by-products and is expected to drive transformative changes across the future power industry, including mobility. Jung Eun-young, CEO of Alpaca Networks, unveiled the access security platform Alphacon, designed to reduce cybersecurity threats to organizations and companies.
On-site of the 2024 POSCO IMP Startup World Cup Preliminary Round / Source=IT Donga
At the 2024 POSCO IMP, the national preliminary round for the global startup pitching competition “Startup World Cup,” held in San Francisco, was conducted alongside the event. Co-organized by POSCO and Pegasus Tech Ventures, the company that wins the preliminary round receives benefits worth 10 million won—including pitching training and expenses for staying in the U.S. for the finals. Moreover, the winner will have the opportunity to participate in the finals, showcase their business in front of major global investors, and, if victorious, win a prize of one million dollars (approximately 1.34 billion won).
This year, IMP-selected companies such as Alpaca Networks (platform category), Ium Bio (bio category), A2Urs, and QD Corporation (advanced future materials category) applied for the preliminary round. In previous years, IMP-selected companies also applied in the AI category. These included Synergy AI, which offers an AI-based solution for kidney volume measurement and arrhythmia prediction; Ilmanbaekman, which produces business videos using AI; and Pet Now, which promotes AI-based biometric recognition technology for pets. As a result of the judging, Synergy AI secured the qualification as the national representative advancing to the Startup World Cup finals.
Kim Ki-soo, POSCO Holdings CTO, delivering a congratulatory speech / Source=IT Donga
Kim Ki-su, CTO of POSCO Holdings, stated, “POSCO IMP is an opportunity that both uncovers new growth potential for startups and explores the future of the industry. In the past, the Medici family supported innovation and sparked the Renaissance—a revival of new culture and knowledge. Likewise, under the values of innovation and creativity, POSCO will support Korean startups in spreading the positive impact of changing the world.”
IT Donga Cha Jukyung journalist(racingcar@itdonga.com)