Jun-hee Kim, Director of the Public Data Bureau of the Ministry of Public Administration and Security, is taking a commemorative photo with the winners at the '11th Open Data Utilization Startup Contest' held at COEX in Gangnam-gu, Seoul on the afternoon of the 20th. [Photo = Ministry of Public Administration and Security]

On the 20th, the Ministry of Public Administration and Security (Minister Sang-min Lee) held the ‘11th Public Data Utilization Startup Competition’ at COEX in Seoul and announced the results on site.

The 'Your Pick' team submitted 'RPA (Robotic Process Automation) solution to prevent real estate fraud linked to public data' in the idea field, and 'ANRISK - Artificial Intelligence-based Cerebral Aneurysm Development Risk Prediction Platform' in the product and service development field. One 'Talos' team each won the President's Award.

The ‘Your Pick’ team, which won the Presidential Award in the idea category, presented an idea to analyze public data to prevent real estate fraud, evaluate the risk of properties (price, transaction information, etc.) and provide a safe transaction score. It was evaluated as having high usability of public data and its potential to develop into future startups and investment attraction.

The 'Talos' team, which won the Presidential Award in the product and service development field, introduced an artificial intelligence-based service that informs the risk of developing a brain aneurysm and delivers risk factors to the subject, suggesting ways to improve the risk. It received a high score as it was highly evaluated for its potential to create social value and develop into future startups and investment attraction.

In addition, the ‘eye(i) Shopping’ team and the ‘KRG Group’ team won the Prime Minister’s Award in the idea and product and service categories, respectively. The 'Good Navigation' team and the 'Farm Connect' team received the Minister of Public Administration and Security Award, the 'Iljeomsa' team and the 'Zebra & Sequence' team received the Minister of SMEs and Startups Award, the 'InnoSafety Dream' team received the Startup and Entrepreneurship Promotion Agency Director's Award, and the 'Linsol' team received the Minister of SMEs and Startups Award. They each received the Korea Intelligence Information Society Director Award.

This year, 2,724 teams participated in the preliminaries from 42 organizations, including the Ministry of Health and Welfare, Incheon Metropolitan City, and the Korea Real Estate Agency, and the final 10 teams advanced to the finals and competed in the King of Kings.

The 10 teams that participated in the King of Kings competition competed in two fields: △idea planning field and △product and service development field, and used public data to address important social issues such as housing (monthly rent) issues, social safety issues, and medical issues, which were of high public interest. Presented innovative ideas to solve problems.

In the review, an expert group review panel consisting of 7 people in each field such as data, patents, and investment, as well as a pre-recruited 'national evaluation group' of 80 people participated, enhancing expertise and fairness. The winning teams in the King of Kings competition will be provided with a total of 100 million won in business funding and various other supports.

The Korea Institute of Startup and Entrepreneurship Promotion, Korea Credit Guarantee Fund, Shinhan Card, SK Telecom, Microsoft Korea, Intellectual Property Office, Korea Invention Promotion Association, and BC Card plan to provide various business services, including financial counseling, to the winning teams in relation to starting a business.

Director Jun-hee Kim of the Public Data Department said, “The Public Data Startup Contest is meaningful in that it provides consulting to prospective entrepreneurs or companies that want to use public data to commercialize their products or services, and serves as a stepping stone for the business to become established. “I think there is,” he said, adding, “We will continue to actively play a role in discovering innovative business models and promoting entrepreneurship.”

Reporter: Yoon-jeong Jang(linda@ajunews.com)

Written & Released on October 22th 2023

Original Post Link AJU (ajunews.com)