AI NewsWaveKakao's AI Dot Chulhang Season 2 Draws 122 Teams From Korea's Four Science and Technology Institutes
Key points
- 122 teams apply to AI Dot Chulhang Season 2
- About 85% more than the 66 teams in Season 1
- 12 teams to present in the finals, 8 teams to win awards
Kakao Investment said on the 2nd that a total of 122 teams applied to Season 2 of "Kakao AI Dot Chulhang," a program that links AI technology from Korea's four science and technology institutes to startups and commercialization. EBN and iNews24 reported that this is about 85% more than the 66 teams that applied in Season 1.
The program targets teams from the Korea Advanced Institute of Science and Technology (KAIST), Gwangju Institute of Science and Technology (GIST), Daegu Gyeongbuk Institute of Science and Technology (DGIST) and Ulsan National Institute of Science and Technology (UNIST). Digital Daily reported that 12 of the applicant teams will present in the finals, from which the final eight winning teams will be chosen.
Digital Daily explained that, with actual investment results coming from Season 1 winners, Season 2 expanded both the scale of participation and the prize money. iNews24 gave the total prize money as 75 million won in its headline. Startup Today reported that the scale of the awards was greatly expanded and pointed out that more than 100 research teams applied for Season 2. In its headline, that outlet asked whether the larger prizes would lead to a year-end main investment agreement, and it named Kim Do-young as Kakao Investment's CEO.
Glossary Commercialization means turning research results or technology into products and services that earn money in the market.