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Playtag Secures Key Government Support, Setting the Stage for Accelerated Growth with StoryLine

Econovill, Jin Hong Choi | 2024.7.25

July 25, 2024 — Playtag, an AI video analytics startup specialized in early childhood education has laid the groundwork for significant growth by being selected for government support and various fostering programs, based on its technological expertise and market potential. 

Playtag has been selected for several prestigious programs, including the Ministry of SMEs and Startups’ 2024 Global Accelerating (GMEP) Support Program, Samsung C&T’s 2024 FutureScape, and IBK Industrial Bank of Korea’s IBK ChangGong. These selections mark a significant milestone for Playtag, providing opportunities for global market expansion, technical collaboration, commercialization funding, expert consulting, R&D support, and investor relations (IR). 

The Global Accelerating Support Program (GMEP) initiated by the Ministry of SMEs and Startups, is designed to help businesses seeking international expansion by enhancing their competitiveness through domestic and international acceleration programs and funding. The program’s features include collaboration visits and demo days in both South Korea and the U.S. Playtag plans to leverage these opportunities to expand into global markets. 

In addition to GMEP, Playtag was selected for the 2024 FutureScape, an open innovation program operated jointly by the Seoul Business Agency and Samsung C&T since May 2024.  Through this program, Playtag will collaborate with Samsung C&T to refine and enhance its services, initially developed for infants and toddlers, so they can be applied in senior care and residential facilities. This collaboration will serve as a foundation for future partnerships across various industries.

Furthermore, Playtag is positioning itself for scalable growth through IBK ChangGong, a program by IBK Industrial Bank of Korea. By utilizing IBK's finance expertise, consulting capabilities, and expansive network, Playtag aims to achieve economies of scale and accelerate its growth trajectory.

Hyun Soo Park, CEO of Playtag, expressed his enthusiasm, "We are thrilled to secure excellent opportunities for global expansion and growth. Moving forward, we will continue to innovate and develop our technology to provide even greater value to our customers."

Source: https://www.econovill.com/news/articleView.html?idxno=661512