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XnTreeVentures opened an AI center in the city of Gwangju
The city of Gwangju said a venture capitalist, XnTreeVentures, unveiled its investment plan by setting up a research lab to identify and advance artificial intelligence solutions in Gwangju city. The VC has already reached a contract with the city government in May and finalized business registration process to be authorized.
The R&D center is highly anticipated to attract investment in AI technology, create jobs and serve as a local venture hub.
Chairman of XnTreeVentures’ board of directors said “We’ve established a center both in the city of Seoul and Busan in the year 2018 to finance KRW 12 billion, a boost for local hidden champions. Based upon the expertise that we’ve build up so far, we would like to give full support to form an AI ecosystem in Gwangju city.”
City mayor also added “XnTreeVentures is one of city’s key partners to embrace the ecosystem. This is a huge takeoff, part of progress in forming a hub of artificial intelligence in the city of Gwangju.”
Gwangju city reached an investment deal with two other partners- Cheongho Environment Development Co., Ltd. and AI solutions provider, Alphado, producing portable spectroscopes, utilizing bigdata analytics.
The city has already attracted 16 AI applications developers to compete in the global stage this year alone, and seven of these business partners have incorporated separate legal entities in the city.
cbebop@yna.co.kr
** This article was translated from Korean.
Date
2020.07.10
Views
428
According to Yonhap News,
The city of Gwangju said a venture capitalist, XnTreeVentures, unveiled its investment plan by setting up a research lab to identify and advance artificial intelligence solutions in Gwangju city. The VC has already reached a contract with the city government in May and finalized business registration process to be authorized.
The R&D center is highly anticipated to attract investment in AI technology, create jobs and serve as a local venture hub.
Chairman of XnTreeVentures’ board of directors said “We’ve established a center both in the city of Seoul and Busan in the year 2018 to finance KRW 12 billion, a boost for local hidden champions. Based upon the expertise that we’ve build up so far, we would like to give full support to form an AI ecosystem in Gwangju city.”
City mayor also added “XnTreeVentures is one of city’s key partners to embrace the ecosystem. This is a huge takeoff, part of progress in forming a hub of artificial intelligence in the city of Gwangju.”
Gwangju city reached an investment deal with two other partners- Cheongho Environment Development Co., Ltd. and AI solutions provider, Alphado, producing portable spectroscopes, utilizing bigdata analytics.
The city has already attracted 16 AI applications developers to compete in the global stage this year alone, and seven of these business partners have incorporated separate legal entities in the city.
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cbebop@yna.co.kr
Source: Yonhap News (Jun 30 , 2020)
** This article was translated from Korean.