Cremotech and SK telecom, with their co-developed micro-projector, has signed a supply contract with America KDC
Daejeon Creative Economic Innovation Center company Cremotech (Representative: Kim Seongsu) and SK Telecom, with co- developed products, has signed a $10 million contract to supply America KDC (Korea Distribution Center, representative: Lee Taemok). Micro projector manufacturing enterprise Cremotech will complete $15 million in mass produced exports over the next two years.
Cremotech, hired by SK Telecom BRAVO! Restart project started to receive operational strategic guidance, investment, and sales support from Daejeon Creative Economic Innovation Center in 2014, and its earliest successful manufacture of micro projector products based on a laser light source in May 2015 made it a famous potential startup enterprise. This is a co-developed product of SK telecom and Cremotech, using nine patents owned by SK telecom.
Cremotech Micro Projector
Daejeon center actively supported and promoted the success of Remote’s initial investment through its financial support project and contacted investors directly. Cremotech set up production lines in Suwon and started mass production after receiving investment. The first product, the UO intelligent projector, was born in 2015 and recent monthly sales ranked number one in the US Amazon video projector category.
Cremotech’s micro projector can connect to a variety of machines
Developing the new product to the smartphone model through Daejeon’s Potential Startups Design Support project won praise for its functionality and design, and is one of the biggest contributors to the contract’s success.
Cremotech boasts excellent technology, but lacks business strategy, so Daejeon Centre provided systems support in operation and production technology, finance, marketing, etc. Kim Seongsu provides necessary support for the growth of small and medium-sized enterprises and startups.
Cremotech’s micro projector can connect to a variety of machines
At the world’s largest International Consumer Electronics Show (CES), held in Las Vegas in January, Cremotech was awarded the technical innovation prize, then received the IR52 Jiang Yingshi award in June and as well as recognition in the Small and Medium Enterprises Technological Innovation competition on September 21st. Its technical strength has now been recognized all around the world.
The IR52 Jiang Yingshi Award is sponsored by the Future Creative Science Department and held by the Korean Industrial Technology Association, and is awarded to domestic enterprises and research institutes that actively carry out technological innovation.
However, Cremotech is not satisfied with its current status and plans to expand to a variety of screens, including car HUDs, through long-term R&D. They are now building a research institute in Daejeon and preparing for relocation. The Daejeon center’s innovation policy will be combined with DaeDuck’s excellent human resources to promote the development of optical technology and provide support for continued overseas marketing.
Daejeon Center representative Im Jongtae stated, “In 2014 Cremotech didn’t receive the attention of investors as it does now, but is an innovative technology company using laser technology based on the LED lighting market. As we trust their technology and the market demand for their products, we actively support them in connection to reaching investors. The first investor is a just a start, which will become a springboard for stock investment from large enterprises”.
Cremotech representative Kim Seongsu added, “In the October 2014 Daejeon Creative Economic Innovation Center expansion ceremony, when the president was invited, we were just a new enterprise showing our product, but two years later in the same place, we signed a $10 million export contract with the United States. It’s like a dream come true. Cremotech has core technology but lacks funds and business strategy for production and marketing, so we’re grateful to the system support of Daejeon, laying the foundations for Cremotech to become a professional enterprise in optical communications”.
Daejeon Creative Economic Innovation Center has found and cultivated 20 potential enterprises through the Dream Risk Star project, and has lead about 20 billion won in investment up to now, making it a hub of the entrepreneurial ecosystem.
From the Future Creative Science Department
