The Ministry of Science and ICT & NIPA, '2022 Metaverse Content Global Advancement Capability Enhancement Support Project' completed successfully

    LOS ANGELES, CA, December 07, 2022 /24-7PressRelease/ -- he Ministry of Science and ICT and the National IT Industry Promotion Agency have successfully completed '2022 Metaverse Content Global Advancement Capability Enhancement Support Project' program to nurture metaverse specialized companies with global competitiveness.

This project is a part of the 'Leading Strategy of New Industry, Metaverse' jointly announced by the pan-government in January this year. It focuses on fostering global specialized companies that can lead the metaverse industry in the future. Currently, Korean startups and SME are experiencing difficulties in investing as well as adapting to metaverse centered business changes. Through this project, they will be able to get provide systematic and professional commercialization and new growth opportunities.

'Global Advancement Capability Enhancement Support Project', which has scale of 11.9 billion KRW, classified companies wishing to enter overseas markets into Early Entry, Mid-sized Take Off, and Leading Specialist companies, depending on their growth stage. In addition, a total of 70 companies (Early Entry -30, Mid-sized Take Off -30, Leading Specialist -10) were selected, and through a step-by-step customized program, it was possible to secure the global competitiveness of companies related to Korean metaverse and XR contents.

In particular, supported companies are provided with practical support for overseas expansion with various consulting programs such as technology development, manpower matching, investment attraction and various support programs for entering overseas markets.

For 'Early Entry Company', crowd funding to secure initial investment and a content marketability verification program were provided, and 'Mid-sized Take Off Company' were supported with overseas demand discovery·matching and business opportunities. In addition, 'Leading Specialist Company' were intensively supported for joint cooperation project expenses between Korean platform companies and foreign content companies.

From September 28th to 30th, at the MWC (Mobile World Congress) Las Vegas 2022 held in Las Vegas, USA, they hosted the NIPA joint pavilion (K-Metaverse Pavilion) to promote promising Korean metaverse companies.

A total of 28 Korean companies participated in the MWC NIPA pavilion. They had business meetings with local buyers, and held official programs such as forums and DEMO DAY to strengthen publicity of Korean companies and support overseas market development.

At the K-Metaverse DEMO DAY, a part of the MWC partner program, each company's products and solutions were promoted and networking opportunities were provided through 1:1 meeting with local companies. In particular, on the MWC DEMO DAY, more than 50 global VC showed their much enthusiasm to gather in one place to meet Korean metaverse companies.

19 companies participated in the DEMO DAY presentations. 5 companies, including Aria Studio, EMOTIONWAVE, Sidewalk Labs, JJAANN Company, and Tripbtoz in the tourism and entertainment field, 4 companies, including DATAKING, UCON CREATIVE, Inventis, and SUPERBEAN in the education field, 4 companies, including Mingle&Co., GraFizix, VISUAL LIGHT, and Immersivecast in the XR content field, and 4 companies, including LINKDOTZ, WonderVari, wedit, and XrisP in the XR platform field, participated in the presentation. In the Industrial Solution field, iGiS took the last session and introduced Korean metaverse companies.

At the 'AWE EU 2022' event held at the Feira Internacional de Lisboa Convention Center in Lisbon, Portugal from October 20th(Thur) to 21st(Fri), 15 Korean companies (including 10 Leading Specialist companies) participated. This participation provided a bridgehead for global expansion.

At the conference, 3i (Presenter, CEO Ken Kim) emphasized the usefulness of production based on Pivo products, which deviated from the existing DSLR-based content production, and NP (Presenter, Creative Director Alexis Choo) presented on the subject of 'The Korean Metaverse Ecosystem Today and Tomorrow'.

The conference with the theme of 'XR Impact' was hosted by CEO Woosuk Chang (Consultant in charge of Leading Specialist Company) and participated by companies such as Woongjin Thinkbig Co., Ltd. (Deputy General Manager Jurang Kim), P&C Solution (General Manager Dominica Lee) and MARVRUS (Chief Strategy Officer Danny Cho).

10 Leading Specialist Korean companies participated in the Pitch Stage held at Feira Internacional de Lisboa SALA 1 in Lisbon on the 21st (Fri).

Pitch Stage was hosted by Andrey Lunev, a venture partner from Switzerland and participated by 3i, NP, P&C Solution, Metavu(Previously Extriple), NEOGAMES, Brandi, Ejune System, HAEGIN, MARVRUS, Woongjin Thinkbig Co., Ltd. and others in IR pitching for global VCs, drawing a good response.

Meanwhile, the 2022 Metaverse Content Global Advancement Capability Enhancement Support Project greatly enhanced the status of the Korean XR industry, promoting the K-Metaverse brand and promising Korean companies through participation in various global exhibitions.

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