Korea Sports Promotion Foundation and Y&Archer successfully host a joint demo day.

Leading South Korean accelerator Y&Archer has successfully concluded a major demo day aimed at securing investment for 35 promising startups in the untact (non-face-to-face) and sports technology sectors. The event was operated by Y&Archer with the backing of key governmental bodies, including the Ministry of SMEs and Startups, the Ministry of Culture, Sports and Tourism, the Korea Institute of Startup & Entrepreneurship Development (KISED), and the Korea Sports Promotion Foundation (KSPO).

The '2023 Y-VISION ARISE DEMODAY' was held on December 6th at the Sofitel Ambassador Seoul Hotel. The event was designed to create a valuable opportunity for startups discovered through the joint initiatives to pitch to venture capital firms.

A total of 35 companies from the untact and sports tech fields, including Runshot, LITIV, Noi Lab, Uriddle, Smash, Yeogioori, CBCG, Emoticbox, Purple Gorilla, and Ascent Sports, participated in the event. Each startup delivered a five-minute IR pitch, followed by a three-minute Q&A session with investors.

In his opening remarks, Shin Jin-oh, CEO of Y&Archer, stated, "Today, we have gathered the startups that will lead the future of South Korea all in one place. Despite these challenging times, we will continue our efforts to create programs like this demo day to support the survival and growth of startups."

LITIV was the first to take the stage. The company offers an AI-powered service that automatically analyzes sports video data. Using LITIV's 'Bastat' platform, athletes can easily record and track their performance and stats.

"Our key feature is the ability to easily analyze your own sports data using footage filmed only with a smartphone, no professional equipment needed," explained Jihun Kim, CEO of LITIV. "Our strength lies in making sports data analysis, which was once the exclusive domain of professional sports, accessible and affordable for amateurs."

The sports tech category featured a notable number of golf-related businesses. Participants included Landover, developer of the world's first and only putting-exclusive rangefinder; CBCG, which launched its own golf brand, 'CALONG'; Underpar Lab, creator of a mobile golf shot tracer; Ravino, developer of an online indoor golf competition platform; and Massive Lab, which develops sports equipment like magnesium alloy golf shafts.

The final presentation was from Awesome Lab, a hardware-based startup developing eco-friendly heating and sterilization technology. The company is currently working on products like an 'eco-friendly portable water heating solution' for leisure activities that can be used without electricity. They announced plans to establish themselves as a specialized brand by building a lineup of 10 products by 2027.

The second part of the event featured networking and an awards ceremony. Startups were given the chance to connect with ten venture capital firms, including STIC Ventures, ID Ventures, Infinitum Partners, Smilegate Investment, and Prodigy Investment. At the awards ceremony, LITIV was honored as the 'Archer's Hero' (Company of the Year).

A representative from one of the participating startups commented, "It was great to have an opportunity to attract investment in a difficult fundraising climate. It was also incredibly meaningful to meet other founders in similar fields to share ideas and discuss challenges."

Source: Dealsite (https://dealsite.co.kr)
By Yang-hae Choi (excuseme@dealsite.co.kr)
Published: Dec 08, 2023, 09:36 AM

#BASTAT #LITIV #Basketball #Data #Scoring #Highlights #Sports #Game #Athlete #Youth #Amateur #IndoorCourt #IndoorGym #BasketballCourt #CourtRental #PickupGame #DigitalTransformation #DX #AX #Filming #Editing #Stats