SNU Professor Byeng Dong Youn,
OnePredict Selected As One of 15 Future Unicorns by the Ministry of Science and ICT

The Ministry of Science and ICT announced on May 15 that it has selected 15 companies for the global ICT future unicorns development project in 2020.
The Global ICT Future Unicorn Promotion Project is a project to discover promising companies in ICT fields with high global growth potential and foster them as future unicorn companies through comprehensive support, such as overseas expansion and provision of funds (investment and loans). A total of 138 companies applied for this year's contest, recording a 9.2:1 competition rate, comprehensively evaluating technology levels and marketability, global capabilities and plans for a return to the local startup ecosystem, while OnePredict, led by Professor Byeng Dong Youn of SNU, was also selectively included as a future unicorn company.


 

Among the 15 selected companies were 'OnePredict,' which predicts and analyzes the risk of failure and remaining life of industrial facilities, "Mathpresso," an artificial intelligence-based math problem-solving edu-tech company, and "Open Edge Technology," an artificial intelligence-based semiconductor IP design company. They are innovative companies in the field information and communication technology (ICT) that have been recognized for their global growth potential and excellent technical skills.
 
The selected companies will receive support through public-private partnerships with related agencies such as the  Ministry of Science and ICT, the Korea Credit Guarantee Fund the National IT Industry Promotion Agency, Korea Telecommunications Operations Association the Born2Global Center Seoul Guarantee Insurance Company.
 
They will receive up to 10 billion won in credit guarantee support from the Korea Credit Guarantee Fund for three years, and will also be able to gain opportunities to attract investment from venture capital (VC) through the Korea ICT Fund (KIF) created by the Korea Telecommunications Operations Association.
 
"Talented ICT companies have recently shrunk in funding and overseas expansion due to the spread of COVID-19," said Jang Seok-young, the second vice minister of the Ministry of Science and ICT, said Seokyoung Jang, the 2nd Vice-Minister of the Ministry of  Science and ICT. "The government will support ICT companies with high potential for growth to turn this crisis into opportunities in the post-Corona era and become unicorn companies in the global market," he added.