Gyeonggi Creative Economy Innovation Center (hereinafter referred to as Gyeonggi Innovation Center) announced on the 5th that it has completed its investment in Team Grit (CEO Kim Ki-ryeong), a startup that operates the ultra-low-latency live broadcasting solution ‘Spider’.
The source of this investment is the ‘Gyeonggi Creative Economy Innovation Center Private Investment Association No. 1’ operated by the Gyeonggi Innovation Center. As a result, the total number of startups invested by the Gyeonggi Innovation Center reaches five.
TeamGrit is a web service company that enables real-time two-way communication without installing a separate program. High-definition video can be transmitted without delay to low-end IoT equipment, allowing various terminal manufacturers such as drones and robots to provide large-capacity media services. Last year, Japan’s Kyocera Group KCME signed a contract to purchase Spider and is providing video information services through IP video desk phones to local governments.
The Gyeonggi Innovation Center has provided commercialization support and space in the Pangyo Startup Zone to Team Grit, a participating company in the 2019 K-Challenge Lab. In addition, TeamGrit’s 5G-based ‘Web Standard Ultra-Low Latency Media Platform’ is provided to the 5G mmWave test bed that opened in May, supporting IoT companies to develop and demonstrate technology for free. Detailed information can be found on the Gyeonggi Innovation Center website.
An official at the Gyeonggi Innovation Center said, “We look forward to creating and implementing innovative services for equipment with cameras using the 5G test bed and Team Grit’s Spider.” He added, “The Gyeonggi Innovation Center has the highest level of infrastructure and full-cycle accelerating capabilities in the country. “We will take the lead in helping companies grow faster by strengthening our investment function.”
Meanwhile, the Gyeonggi Innovation Center is a public accelerator that discovers and invests in promising companies. We promote investment projects targeting innovative startups such as center childcare companies. Depending on the investment company, follow-up support for fast scale-up may also be provided through the Gyeonggi Innovation Center’s childcare program.
Source: Pangyo Techno Valley Official Newsroom
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