Tech4Good 2024: Fostering Tech Collaboration Between France and Korea
The Tech4Good 2024 event, hosted by The French Tech Seoul with support from the French-Korean Chamber of Commerce and Industry (FKCCI), successfully showcased the advanced technology and startup ecosystems of both Korea and France.
This initiative strengthened cooperation in the tech industry between the two countries, fostering mutual growth and innovation.
The program, which first launched in Korea in 2019, ran from October 21 to 25. In addition to various activities such as visits, conferences, and training sessions promoting tech innovation throughout the week, the delegation attended the Korea Electronics Show (KES), the main event taking place from October 22 to 25 at COEX in Seoul.
The dedicated French Pavilion, the only foreign pavilion at KES, featured six innovative French startups presenting cutting-edge technologies. These startups engaged directly with local entrepreneurs, investors, and accelerators, expanding their business networks and exploring collaboration opportunities.
The highlight of the event was the Tech4Good Summit on October 25, which brought together leading industry experts from Korea and France for engaging panel discussions. This summit provided a comprehensive look at the latest trends and innovations, serving as an important platform for exploring future directions across various sectors. Key industries such as GreenTech, FoodTech, and BeautyTech participated in dynamic Tech Roundtables.
In the GreenTech panel, experts emphasized that the costs of Korean green technologies remain significantly higher than those of non-ecological alternatives, noting that current government support is insufficient to bridge this gap. To improve access to green technologies, prioritizing cost reduction in the coming year is crucial.
Panelists also highlighted the importance of a unified vision among all stakeholders—startups, academia, and government. By fostering collaboration, we can accelerate progress, as the current pace is inadequate to effectively address urgent environmental challenges.
During the BeautyTech session, panelists explored how technology can provide personalized solutions in the beauty industry. Vishal Sharma, Research and Innovation Director for L’Oréal Korea, shared insights into their development of an AI-powered personalized makeup solution. This innovative technology allows users to communicate in their preferred language, enabling the AI to analyze skin tones, capture color images, and create custom lipstick shades that perfectly match.
In the FoodTech panel, experts discussed the varying applications of AI across different industries. While AI is widely utilized in pharmaceuticals, its adoption in the food sector is still evolving. Ruslan Tursunov, Director of Global Strategy and Partnerships at Simple Planet, emphasized the need for collaboration among industry stakeholders, media, and regulators to promote acceptance of artificial meat. He clarified that the goal is not to replace traditional meat but to provide an alternative that enhances dietary diversity.
Panelists further stressed the importance of partnerships between large companies and startups. Startups often bring fresh, innovative technological solutions, while established companies offer essential resources and market access. This collaborative synergy creates a win-win situation, driving innovation and enriching the consumer experience.
At the end of the day, a Pitch Contest provided a platform for startups from both countries to showcase their business models and technological innovations to a panel of expert judges. Six French startups and five Korean startups participated, including MicroFactory, CetraC.io, Syscience, FEELBAT, SECURE-IC, NANOMADE LAB, MCE, MOVIC, HN Novatech, EV & Solution, and Terracle. These startups pitched their groundbreaking concepts, all aimed at creating positive change in our world.
Terracle won first place for their innovative vision and commitment to eco-friendly recycling solutions, earning a prize valued at 7,000,000 KRW to scale up their business. Secure-IC claimed second place with their remarkable cybersecurity innovations that captivated the judges, while HN Novatech received third place for showcasing their dedication to societal well-being through innovative food tech solutions.
Thank you to all the startups for participating, and to the speakers for sharing their valuable insights. We also appreciate all the attendees for joining us.
A special thanks to our sponsors who made this event possible.
