Innovative technologies from Korea to developing countries: Born2Global Centre picks up the pace on cooperative activity with World Bank

WASHINGTON, Feb. 21, 2020 /PRNewswire/ -- The Born2Global Centre (Born2Global), a major Korean government innovation agency that operates under the country's Ministry of Science and ICT and greatly contributes to the Korean startup ecosystem, will be increasing its efforts to spread innovative Korean technologies to developing countries.

Born2Global participated in World Bank Group's "Korea Innovation Week," which took place in Washington D.C., upon invitation from the World Bank. At the event, Born2Global had the opportunity to introduce Korea's startup ecosystem as well as companies with cutting-edge technology. Beginning with a startup meeting hosted in Korea with the World Bank in 2019, both institutions continue to discuss ways to cooperate.

Born2Global attended in a subcommittee workshop on digital development, where it gave a presentation on Korea's startup ecosystem, which is based on active cooperation between the public and private sectors, and Korean government policy support for startups that wish to debut overseas. In particular, it introduced examples of Korean collaborative projects with MDBs (multilateral development banks) that were implemented to support the growth and build the capabilities of companies already in possession of innovative technologies.

Born2Global member companies, including GSIL, LUXROBO, Hylium Industries, and VisualCamp, also gave presentations and technology demonstrations.

GSIL presented on a smart construction safety management system that can be applied to infrastructure building (energy, transportation, etc.) and maintenance projects, while Hylium Industries presented the advantages of liquid hydrogen-based energy as a future energy source. LUXROBO introduced a STEM (science, technology, engineering, and mathematics) educational solution based on IoT and robotics and proposed cooperation with MDBs on projects for STEM education in developing countries. By highlighting the potential of cutting-edge gaze-tracking technology for use in the fields of education and medicine, VisualCamp introduced ways in which developing countries can see the possibility of communication with pre-speech infants and/or patients who cannot otherwise express themselves.

Born2Global sounded out ways with World Bank's Digital Development that innovative technology-based services could be made available to developing countries, going as far as holding a marathon meeting to ensure sufficient brainstorming of feasible ways to collaborate.

A total of 21 meetings were held with departments of the World Bank affiliated with a variety of relevant projects (smart city, infrastructure, urban development, energy, education, technological innovation, etc.). Discussions focused on concrete ways in which the technologies of innovative Korean companies can be applied to projects in developing countries and ways to collaborate in the future. 

Discussions also took place with the World Bank on concrete collaborative projects with Born2Global member companies. World Bank's Technology and Innovation Lab expressed significant interest in LUXROBO's MODI module and software: plans to purchase sample MODI kits for use by a study group at the Technology and Innovation Lab will soon materialize. The City Resilience Program announced that it will combine VisualCamp's gaze-tracking technology with other AI technologies to develop a solution to be used in developing countries to detect faulty/poor facilities.

Chief Executive Director Kim Jongkap of Born2Global said, "We aim to continue materializing effective collaboration with MDBs through inter-regional partnerships not only for worldwide promotion of outstanding Korean technology companies but also towards establishment of a platform for the entry of these companies into the markets of developing countries through things such as strategic public procurement. Starting with cooperation on ODA projects, we will spare no effort in enhancing the ability of our companies to obtain orders. We will also consistently provide support so that their abilities and potential can lead to tangible outcomes in the global public procurement market, which is essentially a blue ocean for companies that wish to expand overseas."

For more detailed information on Born2Global, visit www.born2global.com.

About Born2Global Centre

Born2Global Centre (www.born2global.com) is a full-cycle service platform for global expansion. Since inception in 2013, Born2Global has been setting the standard for successful startup ecosystem as the main Korean government agency under the Ministry of Science and ICT. Born2Global has expanded and transformed startups to be engaged, equipped and be connected with the global market.

Media contact

Jina Lee
PR Manager, Born2Global Centre
jlee@born2global.com

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