SPC Group’s Secta9ine Launches Startup Fostering Project
– To create startup collaboration models and discover new growth engines through open innovation
– As a first project, Demo Day was held targeting Fintech startups
– Finalist startups to be given a chance to become partners for SPC Group’s NextGen POS platform project
– ESG management initiative to be strengthened by supporting firms in various areas such as big data and commerce in the future
Secta9ine, SPC Group’s digital business unit, announced on August 3 that it is accelerating its ESG management practice by establishing a startup collaboration model through the startup fostering project.
The startup fostering project is an open innovation* program by which startup companies offer promising business ideas that can be used in collaboration and Secta9ine implements realizable ones in real businesses. It was promoted with the intention to create a partnership model with startups and discover new growth engines.
(* Open innovation means a company creates a new product or service by pooling internal resources while actively pursuing technology and ideas necessary for innovation from the outside.)
As the first round of projects, Secta9ine set the theme as “fintech” and held a Demo Day* on July 27 and 30 during which startups made proposals in relation to business plans on SPC Group store platforms.
(* Demo day is an event in which products or business models developed by startups are demonstrated.)
On the latest Demo Day, the 15 finalist firms made online presentations on their business ideas. The firms had been selected from a pool of 150 startups that participated in startup cultivation programs of Seoul Fintech Lab and Fintech Cube, the Fintech startup supporting institutions.
Secta9ine plans to work closely with finalist startups selected on the Demo Day to jointly develop and commercialize SPC Group’s NextGen Point of Sale system while considering helping them with funds.
A Secta9ine official said, “We at Secta9ine will keep growing the startup fostering project in various industrial sectors such as Fintech, big data, digital marketing, and commerce, based on our group’s strength in food tech business know-how. In line with our vision of becoming a smart life technology company, we will try to create innovative business models and support startup growth, thereby taking the lead in the ESG management initiative.”
Launched in January this year, Secta9ine is a digital marketing specialist based on SPC Group’s capabilities in the platform business, marketing, and ICT business infrastructure. It has accelerated the group’s bid toward digital transformation while playing a leading role in the technology-based marketing platform businesses.
