By Kim, Flint Lab Inc.
Updated February 23, 2018
President of the Korea International Cooperation Agency Lee Mi-kyung presenting about CTS
This year, KOICA invited the public to join in the great contest again, to the KOICA Innovation Day, which was held at Amoris Hall, GS Tower, Nonhyeon-ro, Gangnam-gu, Seoul on 29th of January.
On that day, president of the Korea International Cooperation Agency Lee Mi-kyung proclaimed the Social Value Vision with GS Global CEO Hur Sae-hong, second vice minister of foreign affairs Cho Hyun, and minister of SMEs and startups Hong Jong-hak together celebrating the successful opening of Creative Technology Solution(CTS) program.
KOICA ODA Education Center
In 2015, Korea International Cooperation Agency started a so-called Creative Technology Solution program, which provides seed money, funding, accelerating, mentoring, global expansion, procurement of innovation, business space, and networking opportunities to social-minded entrepreneurs. Starting off as a Challenge Program, CTS has been seeking innovative ways to solve challenges in developing countries.
The CTS program is cooperating with the Bill & Melinda Gates Foundation, the United States Agency for International Development as well as Korean local start-up incubator D.Camp.
KOICA launched CTS as part of its effort to establish an open platform for startups and innovators who can bring in fresh innovative ideas to solve difficulties and challenges around the world. CTS has been successful in its attempt to bring creative ideas and technologies together. It is known that the first CTS attracted more than 100 proposals from social innovators.
Throughout 3 years, 13,773 end users in the world have been able to use the innovative technologies that were discovered and developed within CTS. 42 patents were registered, and 1.3 million in the world's BOP(bottom of the pyramid) became the direct or indirect beneficiary. Finally, more than 87 Countries, 2,092 innovations with 27 start-ups have been supported by CTS so far.
Along with this, Treeplanet, Jeyun, Lumir, Enuma, Vuno, Spacewalk etc., the business beneficiaries of CTS program pitched their success story of business and gave helpful, practical tips to the next applicants. In that respect, Flint Lab is also applying for the 2018 CTS contest. We hope we can share a good news with our colleagues.