[Courtesy of D.Camp]
RealDraw, a South Korean artificial intelligence (AI) image generation technology developer, won the country’s oldest startup competition D.Day on August 31. The event was held at start-up hub FRONT1 in Mapo, Seoul.
D.Day is a startup support program designed to better identify the links between startups and venture capital and is operated by the Banks Foundation for Young Entrepreneurs.
A total of seven companies, including five domestic startups and two overseas startups, advanced to the main round of the competition. A total of 288 companies participated in D.Day, resulting in a 41-to-1 competition ratio.
RealDraw develops AI technology that mimics the drawing style of webtoon artists, allowing them to use the technology to showcase their skills and give readers with an opportunity to discover the artist’s work. RealDraw, whose engineers and developers are from Korea’s homegrown over-the-top (OTT) platform operator Watcha Inc. and major game publisher NCSOFT Corp., secured seed investments from the Yoonmin Foundation and Spring Camp, both Korean venture capitalists, just three months after its inception.
The other August D.Day finalists are as follows:
Plume.D is developing “AvaKit,” a webcam-based motion recognition solution. AvaKit allows users to move their avatars by recognizing facial expressions and gestures via a webcam. Based on over 500 recognition points, it can support up to 120 frames per second, which is 2-3 times higher than competitors, and allows for precise and smooth movements. The company plans to expand into virtual creator agency business based on its technology in the future.
Raw Laboratory operates “airsupply,” a data-based procurement management solution for small and medium-sized enterprises. Users can register web addresses where specific products they want to purchase are displayed in their airsupply cloud accounts, and they can receive a one-stop purchasing agency service from purchase requests to cost verification. Unlike e-commerce companies that sell products at fixed prices, the solution allows users to make integrated payments for various products from different suppliers on one screen. Over 700 startups, including Toss Bank, Today House, and Hyperconnect, currently use airsupply.
Next Edition has a one-stop camping platform, “Campfit,” which provides real-time camping reservation services and allows for shopping and community interactions in one place. Users can check and reserve camping sites at more than 600 locations in real-time and can also purchase camping equipment recommended by the community directly through Campfit. The solution, which topped the camping category in Google and Apple app markets this year, has been recognized for its marketability, with annual transaction value of 57 billion won ($42.98 million) and over 1 million monthly active users in just two years since its launch in 2021.
Based in Singapore, Filmplace operates an online platform that introduces, recommends, and rents out video shooting locations registered by individuals and companies worldwide, and has a similar model to accommodation-sharing companies such as Airbnb Inc. It currently has branches in Taiwan, Malaysia, and Korea, and partnerships with over 6,000 brands in more than 40 countries worldwide, including terrestrial broadcasters such as MBC and SBS as well as local governments including Jeju City, Gwangju City, and Nonsan City.
Tictag is a global data company headquartered in Singapore. It collects and processes data for artificial intelligence learning through its own global crowd pool. It can handle a wide range of data, including various text, audio, and image data, as well as vehicle images and medical data. It established a Korean entity in December 2020, when it began its Korean business in earnest.
Testbank operates digital reference book service “Solve.” Solve uses machine learning-based technology to accurately convert scanned workbook files into a format that can be automatically graded. Users can write on the PDF file or solve problems and check their answers immediately Explanations for each question are also provided on the same screen without the need to navigate to a separate page. TestBank signed a long-term cooperation agreement with MegaStudy Co., a Korean company engaged in the online education business, in July 2023.
This event was sponsored by Korea Growth Investment Corp., with judges including Park Hee-duk, chief executive officer of Translink Investment, Kwon Oh-hyoung, CEO of FuturePlay, Kim Chul-woo, CEO of TheVentures Co., Song Jae-joon, CEO of CRIT Ventures Inc., and Won Dae-ro, CEO of Wilt Venture Builder Pte. Ltd.
Meanwhile, the theme for D-Day’s September event is “Clean Tech,” which presents an opportunity for startups that protect the environment through technology to showcase themselves.
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]