K-startups were awarded at the Consumer Electronics Show (CES) 2022

StartUp City | Monday, May 09, 2022

Around 74 Korean startup and venture companies were honoured with the Innovation Award at the Consumer Electronics Show (CES) 2022

FREMONT, CA: 74 Korean startup and venture companies were honoured with the Innovation Award at the Consumer Electronics Show (CES) 2022, which took place from Wednesday, January 5, to Friday, January 7, 2022, according to the Ministry of SMEs and Startups (Minister KWON Chil-seung, hereafter referred to as MSS). This year, the Innovation Award was given to 574 products from 404 businesses in 27 categories, including intelligent home appliances - Smart Home - and mobile devices and accessories.

Among them, 173 goods were from Korean firms  which accounted for 30.1 percent. Due to the fact that some firms got the Innovation Award for multiple products, a total of 89 companies, that is 22.0 percent, from Korea received the award. 74 of the 89 companies were startup and venture companies, accounting for 83.2 percent of the total, with 60 of them having a history of seven years or less. K-startups made up one-fifth of the 404 companies that earned the Innovation Award, which is an impressive performance. In other words, the Consumer Electronics Show (CES) 2022 provided a platform for Korean startups and venture capital firms to demonstrate their world-class innovation.

The Consumer Technology Association (CTA) has identified four areas to watch at this year's Consumer Electronics Show (CES): Digital health, which includes wearable health monitoring devices and remote healthcare technology; Transport, which includes electric cars and automated vehicles; Sustainable technology, which includes alternative energy and food technology; and Space technology, which includes space exploration and long-distance communication technology. Digital health produced the best results among the four categories for Korean venture and startup enterprises.

From a total of 23 categories, Korean startup and venture businesses got the Innovation Award. In the Health & Wellness category, which is related to digital health, 25 products, that is 28.7 percent, were chosen as Innovation Award winners. Being recognized for their ingenuity and brilliance by the rest of the world was an opportunity for Korean healthcare ventures and startup companies.

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