"30 Startups and Venture Firms Selected" ... Korea Western Power Supports AI Commercialization

Korea Western Power has selected startups and venture firms to take part in the commercialization of power information technology and will provide on-site demonstrations and commercialization funding.

KOWEPO announced on the 27th that it held the "Joint Declaration Ceremony for the Startup and Venture Firm Support Project Using Power Generation Data" at the Seoul Startup Hub in Mapo District, Seoul, on the 24th.

The event was attended by 30 startups and venture firms that were ultimately selected through the "Open Call for Collaborative Projects for Startups and Venture Firms Using Power Generation Data," which KOWEPO ran from June 24 to July 10.

Working with the Korea Productivity Center, the project operator, KOWEPO will carry out the support program by setting up 10 designated tasks that reflect demand from power generation sites and 20 open tasks based on companies' creative ideas.

Participating companies will use KOWEPO's power generation data to develop AI solutions that can be applied immediately on site and will test the technologies at power plants.

KOWEPO plans to hold a performance-sharing event in November and run the "We-AX Championship," where it will select and reward outstanding solutions. The 30 final recipients will receive commercialization grants totaling 350 million won, with amounts distributed according to evaluation results.

Lee Jung-bok, president of KOWEPO, said, "Based on our information assets, we will actively support private companies in developing competitive AI solutions and help establish a new standard for AI transformation in the power industry."

This article has been translated by GripLabs Mingo AI.