On July 2, the 2022 China Wuxi “Taihu Cup” International Elite Innovation and Entrepreneurship Competition International Competition (Japan and South Korea) was successfully held. Three major venues in Wuxi, China, Tokyo, Japan, and Seoul, South Korea were connected simultaneously. 23 overseas talent science and technology innovation projects showed their leading technological solutions in the cloud. In addition, hundreds of international and domestic political, industry, academia, and economic leaders attended the event online. The event presented major technological innovations from China, Japan, and South Korea and linked high-end innovation resources at home and abroad.

Taihu Cup in Wuxi

As Zhao Jianping, director of Wuxi Science and Technology Bureau, said in his speech, to further develop the city’s brand of “incomparable love for talents” at home and abroad, Wuxi has carefully created the “Taihu Cup” International Elite Innovation and Entrepreneurship Competition, which sincerely looks forward to high-level talents at home and overseas to be attracted for innovation and entrepreneurship.

Wuxi is a famous “highland of Japanese capital” and “highland of Korean capital.” Japan and South Korea have become Wuxi’s largest trading partners and one of essential investment sources. He said he hoped to take this event as an opportunity to deepen further innovation cooperation and industrial cooperation with Japan and South Korea and sincerely hoped that overseas experts, innovative companies, and entrepreneurial teams from Japan and South Korea would pay attention to Wuxi, enter Wuxi, and cultivate Wuxi.

Seoul Fintech Lab

Chayee Song, head of the International Innovation Project Department of the Seoul Financial Technology Laboratory in South Korea, proposed that China and South Korea should give full play to their respective advantages, cooperate for mutual benefit, and continue to deepen the in-depth cooperation in the field of scientific and technological innovation, conform to the new round of technology industry development trends, and comprehensively improve the electronic level of scientific and technological innovation cooperation in information, digital technology, financial technology, new energy, and other fields.

 Korean Startups at Taihu Cup

Argos Vision

Argos Vision was the first to appear out of these Korean projects. Dr. Ki Yeong introduced the 3D depth camera currently under development, which has successfully expanded the field of view of the 3D depth camera to 270° horizontally and vertically 160°. Furthermore, the camera will be applied to intelligent robots and used as sensors for autonomous driving and human-computer interaction. Therefore, in the future, it will expand the scope of use to smart factories, smart logistics, smart travel, and smart cities. In addition, Argos Vision’s strong scientific research team comes from CISS, and the team is committed to building a global leader in human-computer vision technology.

Privé Technologies

The second Korean project was Privé Technologies. The president, Dr. David Lee, graduated with J.D. in law from Harvard University. He expressed vividly that Privé Technology’s LEGO approach allows clients to select and assemble unique journeys from their wide range of modular and digital solutions. This modularity and flexibility allow them to address various use cases in wealth management through a scalable cloud-based platform. Moreover, they help customers accelerate their digital efforts.

Privé Technologies was named the 26th fastest growing company in the Asia Pacific by the Financial Times (2020). Headquartered in Hong Kong, they have eight offices worldwide in Korea, Singapore, Malaysia, Thailand, Taiwan, Austria, and Germany. Serving clients in more than 16 jurisdictions, they currently serve more than 60 financial institutions in Asia and Europe. Furthermore, they support over $50 billion through their systems. The Wuxi experts hoped he could do local market research as soon as possible and invited him to start a business locally in Wuxi in the future.

Klleon

Klleon is a leading digital culture start-up company in South Korea. It adopts deep learning generation technology and develops video generation technology. In addition, it transforms the process to make video production simple and fast. The judges listened to the introduction of CEO Jin and were very interested and praised Klleon. The company’s video technology is leading the industry. The company’s CEO, Jin, also told the judges that using a photo or an original sound to produce various required videos in real-time is the innovation of Klleon. This innovation has not been achieved in this industry.

Vyobotics Technology

The last Korean project was by Vyobotics presented by Dr. Chand. He holds a Ph.D. in Robotics from the University of Sydney, Australia. The R&D team he leads is committed to developing cheaper, smaller, and easier-to-operate robots. The Korean robot market is as high as 2 billion US dollars. Moreover, the smart home market value is as high as 53 billion. In 2025, the Korean robot technology market value is expected to reach 4.4 billion. In the future, the robot market will have huge development space in Korea and China. The series of robots developed by Vyobotics costs $100 to $20,000. Moreover, no engineers are required, and no need for expensive sensors. Furthermore, it is 50 times cheaper than most robots on the market and is more efficient. The company currently holds 38 patents.

Wuxi will take the “Taihu Cup” International Competition as an opportunity to continue to deepen cooperation with South Korea, gather strength its strengths as a key platform link, gather more Korean entrepreneurs, industry experts, outstanding college students, and other forces, and promote the integration and innovation of high-quality projects and entrepreneurial soil. ”, to achieve an innovative high level with international influence based on high-quality talents and strong R&D strength.