Daegu Hosts Inaugural FIX Innovation Awards, Spotlighting 36 Tech Innovators

In a significant move to establish South Korea as a global hub for technological innovation, Daegu Metropolitan City and EXCO have honored 36 companies with the inaugural FIX Innovation Awards. The ceremony, held on October 22, 2024, at EXCO's Grand Ballroom, kicked off the Future Innovation Tech Expo 2024 (FIX 2024), showcasing the most innovative technologies and products in future mobility, artificial intelligence, big data, blockchain, and robotics.

The awards, attended by international media outlets and over 100 industry professionals, represent Daegu's ambitious vision to create a platform rivaling global tech showcases like CES. Deputy Mayor for Economic Affairs Jeong Jang-soo emphasized the city's commitment to nurturing a robust startup ecosystem, stating, "FIX Innovation Awards are just the beginning of a startup ecosystem that will propel high-tech companies from small and medium-sized enterprises to global players."

The selection process, which began in July, involved a rigorous evaluation of 210 participating companies. Nine recipients were awarded the Grand Innovation Award, while 27 others received the Innovation Award. The judging criteria focused on innovation, technology, business viability, and social/environmental utility (ESG).

Notable Grand Innovation Award winners include HEI for their EV battery health assessment software, OKSAN for AI-based pedestrian safety systems, and Phantomics Inc. for their AI-powered automatic diagnosis solution. These companies represent the cutting edge of technology in sectors crucial for future economic growth and societal advancement.

The awards program goes beyond mere recognition, offering winners substantial support for global expansion. Awardees will receive ESG and technology assessment consulting, opportunities for investor pitching, and recommendations for the 'Glocal Startup Support Program.' This comprehensive package aims to transform promising local companies into global industry leaders.

Daegu's initiative addresses a critical gap in the Korean tech ecosystem. By creating a domestic platform for innovation showcase and support, the city aims to reduce the reliance on international expos like CES for Korean companies to gain visibility. This strategic move could potentially reshape the global tech landscape, positioning South Korea as a key player in driving technological innovation.

The FIX Innovation Awards and the associated FIX 2024 expo signal a shift in how emerging technologies are nurtured and promoted within South Korea. By fostering a supportive environment for startups and innovative companies, Daegu is laying the groundwork for sustainable technological advancement and economic growth. The city's vision extends beyond immediate gains, focusing on long-term impact and the creation of a self-sustaining innovation ecosystem.

As the global tech industry continues to evolve rapidly, initiatives like the FIX Innovation Awards play a crucial role in identifying and supporting the technologies that will shape our future. The success of this program could have far-reaching implications, not only for the participating companies but for South Korea's position in the global tech arena and the broader landscape of technological innovation worldwide.