Samsung Financial Networks and Samsung Asset Management announced on October 26 that four startups, including AIMATICS and Workover, have been selected as the top winners of the 4th Samsung Financial Group Open Collaboration program. The initiative is designed to foster collaboration with startups and lead innovation in the financial sector, serving as Samsung Financial Group’s flagship open innovation program.

During the final round, startups presented innovative ideas and technologies to address key challenges identified by Samsung executives and employees. The goal was to identify new business models and solutions capable of transforming the financial services landscape.

Out of 317 applicants, 14 startups advanced to the final round. After four months of incubation and evaluation, the judging panel selected the top four winners based on their ability to create innovative models and real-world implementation potential.

Among the top four, AIMATICS was recognized for its AI-powered driver monitoring and risk analysis solution, which leverages mobility data to analyze risky driving behaviors and prevent accidents. Its system supports accident prevention by identifying dangerous behaviors such as drowsy driving, distraction, and sudden lane changes, while enabling insurers to assess driver risk levels more accurately.

Workover, another top winner, operates an online platform that provides CRM-based (customer relationship management) data-driven investment recommendations. The company was praised for its ability to democratize access to investment opportunities for retail investors by providing high-quality insights previously reserved for institutional players.

Each of the four winning startups will receive up to 300 million KRW in funding support, along with an additional 100 million KRW in prize money.

The Open Collaboration program has grown significantly since its inception, with this year’s applications exceeding 1,200 cumulative submissions. The initiative has become a key avenue for connecting startups with Samsung Financial Group subsidiaries, venture capital firms, and external investors.

Samsung Financial Group has also been actively expanding its investment footprint. Since 2019, the group has launched dedicated venture capital funds totaling 500 billion KRW and 400 billion KRW respectively, as well as a co-investment fund worth 580 billion KRW in collaboration with external investors.

A Samsung Financial Group representative commented, “We are deeply grateful for the passion and effort of the participating startups. These winners represent the future of innovation in the financial industry, and we look forward to growing together through continued collaboration.”

Source: Maeil Business Newspaper