Korean Startup Strix offers a Virtual Power Plant (VPP) platform that manages distributed energy resources (DER).  They offer a microgrid which is a next-generation power system that applies modern technology to the traditional unidirectional power grid.  Users are connected to the system by applying IoT devices and can utilize their DERs with minimum cost and time.  Furthermore, STRIX connects to customer’s DERs and energy market to monitor and provide real-time data.  Therefore, based on the customer’s preference, their system automatically operates their assets to efficiently consume electricity.

Strix is a big data-driven electricity specialized IT company.  They offer smart solutions that help to effectively manage energy business needs for the upcoming smart grid era.  They research and develop methods to efficiently produce and consume energy for daily lives.  Strix aims to develop user-friendly technology that allows customers to manage energy easily, leading to a new era where customers can directly buy and sell energy.

KEYS TO WINNING AT RUNWAY TO RISE SEOUL

1. Keep it simple and don’t get too technical.
2. A picture or explanation of the current traditional power grid to the microgrid.
3. Show the user experience for customers, how will they buy and sell energy?

Breakdown:

Strix has a great idea but there is some risk that their pitch could be too technical.  Will they be able to explain their business so that it is clearly understood?  Also a quick visual on the differences of power grids would be helpful.  They need to show WHY the switch to microgrids is the future.  Finally, they will need to show the user experience.  The concept of buying and selling energy by customers is fascinating but how does it work?  What would work best is to describe the common day using their system.  Then they can show graphs showing how much energy they saved throughout the day.

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The Blockchain is one of the most promising new technologies for the future.  Some might say it is a game changer just like the internet back in the 90s.  The Blockchain provides a way to record and transfer data that is transparent, safe, auditable, and resistant to outages.  Therefore, the Blockchain will most likely disrupt many industries in Korea in the next decade.   They have already disrupted the crowdfunding industries with ICOs as more and more Korean companies are going outside of Korea to do ICOs.  Here are the top 10 Blockchain industries in Korea by 2020.

10.  Voting

This is one of the most important areas in society that Blockchain will disrupt.   In 2017, South Korea’s spy agency admitted they tried to influence Korea’s 2012 presidential elections by using psychological warfare.  In the end, it worked as Park Geun-Hye ended up being the president.  We all know how that turned out (in prison for corruption and abuse of power).  The election in 2012 was very close.  Park beat the current president, Moon Jae-In by only a few percentage points.  This shows that the spy agency played a big role in the election.

America recently had their own issues regarding elections.  Many feel Russia played a big role in rigging the election for Donald Trump.  Korea does not want this to happen for 2020.  Blockchain technology can be used for voter registration, identity verification, and electronic vote counting.  This will ensure that only legitimate votes are counted and no votes are changed or removed.  Therefore, Korea could lead the way in implementing Blockchain technologies to truly hold a fair election.  Creating an immutable, publically-open ledger of recorded votes would be a massive step forward in making elections more fair and democratic in Korea.  Many Blockchain Industires in Korea will incorporate a Blockchain voting system.

9.  Real Estate

Some of the issues in buying and selling real estate in Korea are bureaucracy, lack of transparency, fraud, and mistakes in public records. Real estate is big in Korea.  About 70% of Korean household property was found to be real estate.  Which means real estate assets account for a large portion of a Korean household’s assets.  This is why Korea real estate is so important in Korea and many regard buying houses as a means of investment.  This is why real estate deals need a trusted third party and take a lot of time to process.

Using Blockchain technologies can speed up transactions by reducing the need for paper-based record keeping.  It can also help with tracking, verifying ownership, ensuring the accuracy of documents, and transferring property deeds.  For Korea who relies heavily on real estate, it would benefit them to start incorporating Blockchain technologies early.

8.  Online Music

Even people think of Korea they usually think of K-pop first.  K-pop has not only taken Asia by storm by the whole world.  However what most do not realize is that a vast majority of these K-pop stars do not earn a lot of money.  While groups that come out from SM Entertainment, YG Entertainment, or JYP Entertainment might get paid immediately when they debut, other companies require all money earned to go back to the company who invested in them.  Some have said some K-pop artists earn around $400 per overseas shows after the company takes their cut which could be as high as 90%.

Therefore these mid-level K-pop stars and musicians in Korea as a whole need to find new ways to get paid.  This is where Blockchain technologies can allow for musicians to get paid directly from their fans.  K-pop fans are very loyal and there is a market to make sure their money goes directly to the artist and not the corporations.  Musicians will now not have to give up a large percentage of sales from record companies.  Also, smart contracts can automatically be used to solve licensing issues and better catalog songs with their respective creators.

7.  Charity

Korea had a very big scandal in 2010.  One of Korea’s largest charity organization called Community Chest of Korea also known as “Sarangeui Yeolmae” were found to have fixed their accounting records to cover up irregularities in spending.  They were also suspected of having given special favors in hiring staff at the request of senior officials at the organization.  Since then Korea has been reluctant to give to charity organizations and many organizations in Korea since then have gone under.

One of the main complaints in the charity space that Korea has to solve is corruption and inefficiency which prevent the money from reaching those that really need it.  Using Blockchain technology to track donations can let you be sure that your money is going to end up in the right hands.  The Blockchain’s secure and transparent distributed ledger lets the donors see that the intended party has received the funds.  Hopefully, through Blockchain technologies, people in Korea will start to give to charities like they did in the past.

6.  Transporation

While ride-sharing is popular in the west, in Korea only about 2 out of 10 Koreans use ride-sharing services.  Therefore there is still a huge market and opportunity in Korea.  The biggest advantage of ride-sharing services is the low costs.  Korea’s top ride-sharing company Poolus feel the main goal is educating Korea on the benefits of ride-sharing.  Currently, ride-sharing services account for only 1% of taxi rides.  Therefore there is still a lot of room for growth.

The Blockchain can be used to create decentralized peer-to-peer ride-sharing apps.  This will allow both car owners and users to arrange terms and conditions in a secure way without third-party providers like Poolus.  The use of built-in e-wallets can allow car owners to automatically pay for parking, highway tolls, and electricity top-ups to their vehicle.  Transporation will be changed a lot and it will be one of the most impactful Blockchain industries in Korea that will affect everyday Koreans.

5.  Cybersecurity

South Korea has been under attack from hackers for many years.  This makes sense since South Korea is one of the most dominant tech countries in the world.  North Korean hackers have done many cyber attacks on South Korea.  North Korea has also been accused of stealing from cryptocurrency exchanges.

More and more South Korean companies will incorporate Blockchain technologies for better security online.  While the Blockchain ledger is public, the data is verified and encrypted using advanced cryptography.  The Blockchain eliminates the need for middlemen making it more efficient than many legacy systems and cybersecurity.  Cybersecurity will be one of the most important Blockchain industries in Korea for the Korean government.

4.  IOT

The IoT is the connected world of devices, vehicles, buildings, and etc embedded with software, sensors, and network connectivity.  This connected world also brings bad actors looking to hack into the system.  This is why Blockchain and IoT go so well together.  Blockchain can solve many of the problems IoT faces in regards to providing a secure, low-cost way for devices to interact.

Samsung and IBM are using Blockchain technologies for a new concept called ADEPT (Autonomous Decentralized Peer-to-Peer Telemetry).  This will create a decentralized network of IoT devices operating like a public ledger for large devices.  It would eliminate the need for a central location to handle communications between them.  The devices would be able to communicate to each other directly to update software, manage bugs, and monitor energy usage.

3.  Healthcare

In Korea, there are very few community hospitals.  Many doctor’s offices and hospitals in Korea are privately owned.  Korea provides a national health insurance which everyone must be a part of.  Koreans only get private health insurance to cover expenses that the national health insurance does not cover.

So a Korean would visit a doctor.  After the diagnosis, the patient pays a small deductible to get a prescription.  Then the patient will need to go to a pharmacy to get the prescription.  Again she will pay a small deductible.  Then the doctor and the pharmacist claim the full cost (set by NHIC).

Koreans have limited coverage from their healthcare.  Therefore Korean who have issues with chronic conditions or complex diseases like cancer, the NHIC will not cover it.  This is why many Koreans get cancer insurance in Korea.  Doctors in Korea also do not earn as much as Doctors in America or Europe.  This is because even if you are the best doctor in Korea, you still have to charge the NHIC set price, which is already low.  While the Blockchain cannot change these current standings, they can help in other ways.

Challenges for Hospitals in Korea

One of the main challenges hospitals face is the lack of a secure platform to store and share data.  They are also victims of hacking because of outdated infrastructure.  Blockchain technologies can allow hospitals to safely store data like medical records and share with the authorized professionals or patients.  Therefore, this will improve data security and can even help improve accuracy and speed of diagnosis.  In addition, Korean doctors need to see as many patients as possible which means having a fast and accurate diagnosis is a Korean doctor’s main concern.

The healthcare sector in Korea is the readiest now for Blockchain technology transformation in relation to security, and accountability of electronic health records and health information technology, medical supply chains, payment methodologies, research capabilities, and data ownership.  Many healthcare Blockchain companies, like Zikto, Medibloc, and My23  launched their ICOs abroad because of Korea’s ICO ban.  Healthcare will be one of the main Blockchain industries in Korea by the end of 2020.

2.  Government

Government systems are often slow and prone to corruption.  Korea has learned a lot because of Park Geun-Hye and her corruption scandal.  If any country needs transparency in their government it is Korea.  Using Blockchain based systems can significantly reduce bureaucracy and increase security, efficiency, and transparency of governmental operations.  For example, the public benefits provided the government can use Blockchain technologies to help assess, verify, and distribute welfare or unemployment benefits in a much more streamlined and secure way.

Samsung Electronics Co. is the most-valuable multinational tech company by market capitalization and is at the heart of Blockchain innovation in South Korea.  They were also at the center of the Park Geun-Hye scandal.  Now that Samsung Group has launched various integrated Blockchain platforms which can be used in all industries such as Fintech and Govtech.  It is important for the Korean government monitor and regulation the Blockchain and crypto space with integrity.  History has shown that the more a country embraces new technology the higher chance for development and innovation in that country.

1. Banking and Payments

Many financial experts feel the Blockchain will do to banking what the internet did to media.  Out of all the Blockchain industries in Korea, banking will have the biggest impact.  The Blockchain technology can be used to give access to financial services to billions of people around the world.  Especially to those that don’t have access to traditional banks.  Technologies like Bitcoin allow anyone to send money across borders almost instantly with very low fees.  Korean banks are increasingly investing in blockchain projects and startups.

Just a few weeks ago, South Korea’s central bank, the Bank of Korea, announced they were thinking about cryptocurrency and blockchain applications for their future projects for a cashless society.  It is very likely that most banks in Korea such as Shinhan, Woori, and etc will start applying blockchains and passwords to payments.  The major goal of the Bank of Korea project is to reduce the cost of producing physical currencies.  South Korea spends close to $50 million in issuing physical currency.

Korean banks will continue to do research and monitoring on digital currencies.  Much the same way the Korean government is doing.  South Korea is home to some of the largest cryptocurrency exchanges such as Upbit and Bithumb (5th and 6th in the world).  The more Koreans start embracing cryptocurrencies the faster the Banks will adapt.  It is very possible South Korea will be a cashless society by 2020!

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Every time there is a big wave of something it is usually all about who is going to be the first to market.  It is less about THAT in this for IoT and more about building a stronger and smarter business.  IoT predictions are not easy to make.   However what I am really interested in seeing are the smaller businesses that are really going to shoot up as a result of really being smart about IoT integration.  It is not just going to be your GEs, your big businesses that already have this massive herculean system in place.  They have probably already dipped their toe into the water of IoT.  It is going to be these smaller businesses.  Maybe not necessarily startups, but your mid-range businesses. They are going to grow, especially because they are delivering a better service more efficiently.

Building Smarter Cities

If cities get the investments that they need.  You can see cities in the developing world really leapfrog cities like New York.  You are therefore democratizing the process.  What interests me the most about that is what you do with the data once it is generated.  Data and IoT is a big issue in regards to whether or not we are using it properly.  What are the regulations?  In the United States, we have a ton of regulations regarding data.  So you can see that as being a barrier to building smarter cities in the states.  Public entities tend to not be so great with data as a whole but it would benefit them to become stronger with data and use that for their social programs.

Data Literacy

Data is going to be a part of everyone’s lives.  So having data literacy and having data skills is going to be extremely valuable.  It will be all about building the machines that can manage that data.  As well as, be building the platforms that can use that data and spit out analytics.  Also, data analytics on IoT data is a whole new territory that is going to need to emerge and become evolved.  You can see the business segments for businesses, for the government, for people, for consumers, for product lines, it is all going to have to happen really quickly.

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Everybody loves yogurt.  It is delicious, good for you, and a great option for a quick and easy breakfast.  However, yogurts are not all made equal.  Many have too much sugar and are loaded with preservatives.  They add artificial colorings and flavors and non-live cultures.  Therefore IoT Startup Yomee is looking to revolutionize the yogurt industry by offering a homemade option for yogurt lovers.

Yomee is the world’s first automatic yogurt maker allowing you to make fresh craft quality yogurt in your own home without any of the trouble.

Those that have tried to make yogurt at home might know just how hard it is.  However, now, making yogurt at home can be fun and easy.

How it Works?

Simply pour the milk of your choice into the Yomee glass cup.  Then insert your Yomee Pod at the top.  Download the app and then choose your yogurt type.  Then press the button at the bottom and you are done.  Yomee will do all the work and in 6 hours you will have fresh homemade yogurt.

This machine will also save yogurt lovers money because the cost of making the yogurt with it will be one fifth the price of store-bought yogurts.

The Yomee App

Through the App, you will find hundreds of new recipes and tips so you can try a different style of yogurt every week.  The best part is the nutritional breakdown of each recipe which can be seen on the app.  This way you will know exactly what you are eating.

When it comes to yogurt fresh is always best, and you can’t get fresher than making it yourself.  Back Yomee on Indiegogo and start having better yogurt every day.

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There are close to 300 million visually impaired people all over the world.  More than 40 million of these people are blind.  However, there are not enough books in braille form.  One of the reasons is because it is too expensive to create braille books.  It is estimated that less than 1% of our books are translated into braille form.  There were devices for braille reading but there cost between $3,000 to $15,000.  Korean startup Dot has created the world’s first braille smartwatch and best of all, people can purchase it for less than $300.

Dot is the most affordable entry device for braille literacy.  It works much similar to an Apple watch.  Users can connect the device to your smartphone through Bluetooth connections.  Then you will be able to read your Facebook feeds, the time, or any text data.

How does it work?

Once you receive a message on your smartphone.  The message is sent to your Dot watch and the dots start popping up so you can read it.  Since this is an entry device there is a braille education system built in.

Now the visually impaired are excited to learn braille.  Dot is even looking to develop a dot pad which will be like a Kindle for blind people.  With this, there are many possibilities for learning.  They will be able to do math problems, navigate maps, and even visualize images.

Dot will be installing modules in bus stops and subway stations in Korea so blind people can know which buses and trains are coming.

Dot is a technology that gives equal opportunity and equal accessibility so that minority people and disabled people can get the help they need.

The post Korean Startup Dot Creates the World’s First Braille Smartwatch appeared first on Startup Radar.

One of the most important moments for parents is watching their baby grow day by day.  These are very precious moments, however, there are times when babies have trouble sleeping through the night.  These can be heartbreaking times for parents.  If you look on the internet there are not many ways to parents can solve sleep problems when it comes to babies.  This is why Korean startup BETOKOREA developed the first of its kind IOT device called BETO Sleep Coach.

With BETO Sleep Coach you can record your babies daily routine with a board made up of very easy to use buttons.  The data collected by the board will be sent to your mobile app where it will be analyzed.

BETO Sleep Coach

The BETO Sleep Coach uses AI technology to suggest when and exactly how much you should feed your baby.  It will also let you know when you should let your baby sleep.  The board can be installed on the wall in any room.  Through your smartphone, you will be able to get all the data via graphs and statistics.  The app analyzes your babies daily routine.  In addition, it will suggest goals and advice step by step in five stages.  BETO Sleep Coach will also give you advice on how to play with your baby and methods to put your baby to bed.

Good sleep guarantees a healthy brain, a strong body, and reduces stress.  These early years are the most important years of a baby’s development.  Better sleep for the baby will mean better growth for the baby.  Improve your baby’s life and your life with BETO Sleep Coach.  It is affordable, simple, and doesn’t demand a large commitment of time.

The post Korean Startup BETOKOREA Creates AI Based Baby Sleep Trainer appeared first on Startup Radar.

Have you ever felt something is not enough? That idea is what made today’s Toy’s Myth. They define “fun” as something that relates the feeling of missing and starts doing something with it. Based on M2M and IoT technologies, Korean startup Toy’s Myth comes up with smart products. Furthermore, with smart IDE and brand-new equipment, they are trying to deliver products and services that have usability and differentiated “fun”.

Korean startup Toy’s Myth is a technology company specialized in IoT. In addition, cutting-edge hardware and solution for IoT products and services are in the process of development.  Currently, they have the hardware, software, big data and AI related technologies. Therefore they have their own STARBUCK platform that works as an infrastructure for all other services.

PRODUCTS & SERVICES

SmartRC HaMMER

The first fruition of Toy’s Myth is SmartRC HaMMER. The unique individuality and techniques they have are inhered in the product. You can control it on your smartphone with the mobile APP as the car has its own Wi-Fi AP(access point). It does not require any other internet access. Like a real car, it has headlights, emergency lights, and even blinkers that you can manipulate. Furthermore, it has 8 suspensions and tires which makes the car powerful when driving. There is an omni-vision camera on the car where you can film videos or take pictures with the RC car. The battery has a high efficiency.  The 2000mAh battery allows users to drive for 1 hour.

Starting with Smart RC HaMMER, Toy’s Myth has now created Pinoccio, a talking Simsimi IoT toy. It is based on IoT techniques where you can literally communicate with toys as they recognize you and understand what you say. There are even more IoT solutions on the way. WPS, Smart City Solution, Smart School Solution, Smart Scanner are IoT solutions that have been a breakthrough.  They have been utilized usefully for each industry they are placed in.

The post Make your Living Fun: Korean Startup Toy’s Myth appeared first on Startup Radar.

Problems OxiLight can Solve

Diabetic foot ulcers can lead to amputations or even death.  There are over 130 million diabetics in China.  There are 2 million amputations a year and 69% of those amputees will die within 5 years.  However, if they were diagnosed earlier, than up to 85% of the amputations could have been prevented.  The average cost of treatment costs $4,000 and requires dye injections and a specialized lab.  Furthermore, it will take a few days just to get the results.

Benefits of OxiLight

OxiLight is fast, easy to use, and can save time.  It can have the result in seconds and that result can be analyzed by doctors.  OxiLight’s imaging technology can separate viable and nonviable tissues in complex and compromised woods.  This is a great IoT device for healthcare practitioners looking to save time.  Upgrading to a diagnostics service that does not require a specialized vascular lab is the future of diagnostics in healthcare.

How it Works

The device extracts chromophores that have physiological relevance.  It also takes multispectral wound images and gathers data related to wood type, location, size, tissue type, and exudate.  The data is stored in a data warehouse (wound database).  Then AI is used to build predictive and diagnostic models.  No other device does this.  Therefore, their predictive module will be the first of its kind.  Those that could benefit Oxlight the most would be hospitals, clinics, nursing homes, and patients can all benefit from this product.  It is remote and noninvasive.  Hospitals need to think about licensing this technology for their own internal research and development team.

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There is a lack of digitalization in the world of food packaging.  IoT Startup Is it Fresh is looking to revolutionize the food packaging industry.  Every year a person produces 180 kg of food waste.  This can lead to pollution and food contamination.   40% of all foods are wasted.  This is mainly due to the misconception that food is spoiled when it hits the expiration date.  Imagine having a sensor that can measure a products freshness rather than a label.

Introducing Freshtag

Imagine having digital packaging that can talk to the consumer.  Is It Fresh introduces Freshtag which is a wireless sensor tag (NFC) that can be read out in real time.  Freshtag makes packaging smart by the integration of chip and sensor technology.  It can sense the product’s origin, manufacturing date, contents, and traceability.

Freshtag can work together with a Smart Fridge to collect all the digital food data in your fridge.

Freshtag is a fully digital platform that can be used in so many ways:

• Product verification & tracking
• Customer analytics
• Real-time logistics
• Aggregated Data

Through the app, the business can make sure their product is fresh and act accordingly.

Here is an example of milk packaging that uses Freshtag.

Milk can be continuously monitored throughout the manufacturing ensuring product quality and transparency.  Logistics can track each individual package and the temperature history of each product can be traced.  This will revolutionize stock control as well as allow customers to monitor their milk through their app or smart fridge.

Track Freshness

Grocery shopping can an exciting and fun experience.  Customers can track product information, their freshness, and the remaining amount.  This will make shopping easier than ever before.  The Freshtags can even be used to predict the “TRUE” expiration date.

With the advancement in food delivery technologies and services, customers will not need to go shopping their local grocery stores anymore.  Instead, their grocery shopping can be conducted through their smartphone.

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Korean startup Littleone is a must have for new parents in the digital world.  The startup is looking to launch in China where the demand for childcare is very high.  There are a lot of parents that do not have enough time and energy to take care of their baby in an efficient manner. The Littleone app offers solutions through IoT.  Parents can now get bowel alerts for diaper rash prevention and log the baby’s temperature.  It also records feeding records as well as sleep records.  Having a record of a baby’s sleeping pattern is crucial for a baby’s development.

What it does

Through the next level parenting app, the parent can get early childhood development healthcare consulting by affiliated institutions.  As well as get baby supplies through their subscription which has a patented algorithm for intelligent predictions.  Littleone is not only an app but a healthcare community where you can share information and read reviews.  There they can share vital information about childcare, take classes and lessons from professionals.

Little also offers new and innovative products.  Here are three you should keep an eye out for.

• SMART-PEEPEE

A pee and poop sensor with an alarm, statistics, and more.

• SMART-TEMP

A thermometer band that monitors, alerts, and analyzes.

• SMART-BOTTLE

Warms and sterilizes milk/formula and gives tilt and air warnings.

All this data collected on the platform will give the parent a full visual understanding of how your baby is growing.  Not only that but the data will be reviewed by professional doctors for feedback and consulting.

Littleone hopes to launch sometime in mid-2018 and if it is a success in China, look for Littleone to come into Korea by the end of 2018.  Those that can not wait, you can sign up for the latest updates from Littleone by subscribing to their email here.

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