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[Event Recap] 2025 INCHEON Youth Global Launchpad In Malaysia

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1. Event Overview

🔶 INCHEON Youth Global Launchpad 2025

The INCHEON Youth Global Launchpad has become a cornerstone initiative driving INCHEON' s young entrepreneurs toward global success. Organized by INCHEON City and the INCHEON Center for Creative Economy & Innovation (ICCEI), the program empowers promising startups to expand overseas through tailored acceleration, market localization, and hands-on global experience — turning early potential into sustainable international growth.

Since its inception in 2023, the INCHEON Youth Global Launchpad has played a central role in INCHEON'S mission to empower young innovators and help them bring their ideas to the global stage. The program first supported startups entering Mongolia and Vietnam, before expanding in 2024 to include the United States, Singapore, and Vietnam, offering tailored consulting, acceleration programs, and commercialization funding.

Over just two years, the Launchpad has delivered remarkable outcomes:

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2023: 10 companies supported, 29 MOUs and partnership agreements signed, ₩21.6 billion in investments attracted, 3 overseas subsidiaries established, and USD 97,113 in export sales, alongside 89 partnership contracts for market expansion.

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2024: 12 companies supported, 33 MOUs and agreements signed, ₩20.1 billion in investments attracted, 2 new overseas subsidiaries established, and USD 577,525 in exports.

🔶 2025 INCHEON Youth Global Launchpad In Malaysia

Building on such strong momentum, the 2025 Edition continues the mission with new expansion bases in Vietnam and Malaysia, two of Asia's most dynamic and opportunity-rich markets for Innovation and Entrepreneurship.

A total of 25 Korean startups participated in the 2025 Program, divided into Track 1 and Track 2. Track 1 focused on pop-up stores, live streaming, and business matching, while Track 2 consisted of pre-startups and early-stage entrepreneurs, featuring seminars, corporate visits, market research, and business matching programs. Among them, 5 startups will target the Malaysian market, while 20 startups will target the Vietnamese market.

The Malaysian Program, co-organized by the INCHEON City, ICCEI, The Invention Lab, and Malaysia’s Sunway iLabs, was held in Kuala Lumpur from October 21 to 22. The two-day agenda featured participating startups engaged in demo days, business matching sessions, and networking events with local investors and partners at the FutureX Connect Event. In addition, INCHEON City, ICCEI, and Malaysia’s Sunway iLabs signed a memorandum of understanding (MOU) during the event to explore pilot projects and market validation, local commercialization, and ongoing startup exchange, further reinforcing a sustainable partnership framework between Korea and Malaysia.

Through these collaborative efforts, the program not only strengthened the presence of Korean startups in Southeast Asia but also laid the groundwork for long-term partnerships and innovation-driven growth in both markets. The following sections provide a closer look at each country’s program highlights and key activities.

2. Event Recap

🔶 Day 1 - Touring, MOU Signing, and Networking

The first day of the Malaysia Launchpad began with a guided tour of the Sunway City Ecosystem, an integrated, sustainable urban model that combines economic growth with environmental and social responsibility. This immersive tour introduced participants to one of Malaysia’s leading innovation hubs, offering valuable insight into the country’s entrepreneurial environment and collaborative ecosystem.

Following the insightful tour, a significant Memorandum of Understanding (MOU) signing ceremony was held, marking a pivotal step in fostering international collaboration. This comprehensive agreement was signed by INCHEON City, ICCEI, 5 Korean Teams, and Sunway iLabs, a key strategic partner in Malaysia.

The collective aim of this partnership is to foster startups, explore pilot projects and market validation, support local commercialization, and enhance global expansion through sustainable cooperation between the two nations.

Crucially, the direct engagement of the 5 Korean participating startups, establishing individual MOUs with Sunway iLabs, signifies a concrete and impactful first stride for them into the Malaysian market, providing a foundational base for their successful entry.

During lunch, an additional networking session was hosted, offering a relaxed and productive setting for deeper exchanges between Korean teams and their practitioners, and the Sunway iLabs practitioners.

The afternoon then shifted focus, beginning with a dedicated "Business Unplugged" seminar led by MDEC. This session provided participants with essential insights into key details required for successful market entry into Malaysia.

Following the seminar, Korean companies had the valuable opportunity to engage in one-on-one meetings with local enterprises, including the prominent Sunway Group, to explore pilot projects and market validation.

The day ultimately concluded with participants gaining valuable insights and forming meaningful connections, thereby setting a strong foundation for the subsequent sessions.

🔶 Day 2 – FutureX Connect: Accelerating Global Collaboration

The second day of the Malaysia Launchpad program centered around FutureX Connect Event, a flagship event that brought together innovators, investors, and ecosystem leaders from across Asia to explore cross-border collaboration and new market opportunities.

The day's agenda was packed with diverse activities, including various seminars and dynamic IR pitching sessions featuring Korean and Japanese startups.

In addition, Korean startups took part in two panel discussions, where they shared their valuable insights and experiences on topics related to AI, globalization, and market expansion into Malaysia. These sessions offered meaningful opportunities for cross-border dialogue and collaboration.

🌟Panel Discussions:

First Session — From Borders to Breakthroughs: AI's Role in Global Industry Transformation

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Korean Participant: Jeong-Hyun Cho, CEO of Mithril

Second Session — From Start to Scale: The Journey Into Market Expansion in Malaysia

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Korean Participant: Choi Jung, Strategic Advisor of Rovigos

The day began with an insightful panel discussion titled “From Borders to Breakthroughs: AI’s Role in Global Industry Transformation”, where Mr. Jeong Hyun Cho, CEO of Mithril (Korea) joined other industry leaders to discuss how artificial intelligence can enhance operational efficiency, bridge market barriers, and accelerate digital transformation across industries.

Following the panel, the Pitch & Pick (Track 1 – Korea) session delivered a burst of entrepreneurial energy. Korean startups showcased their innovative products and business models through rapid-fire pitches.

🌟 Participating Startups:

ROVIGOS Co., Ltd. – A Korea-headquartered AI-driven total logistics company expanding into Southeast Asia with smart solutions.

Mithril Co., Ltd. – A global leader transforming industries and society with enterprise-level foundation AI models.

BitGlim Co., Ltd. - All-in-One Display Solution

KO-MAPPER Co., Ltd. – Delivers AI-powered infrastructure inspection solutions for bridges, tunnels, and construction sites, enabling fast, accurate, and automated safety assessments.

Hilokal Co., Ltd. – Breaking language barriers for foreign workers.

The momentum continued with Japanese startups presenting in the “Pitch & Pick (Track 2) – Japan” segment, demonstrating creative approaches and technological solutions while exploring collaboration and co-investment opportunities with Korean and Malaysian ecosystem players.

Next, the keynote session “Breaking Borders: Turning Local Potential into Global Impact” was delivered by Prof. Dato’ Sri Idris Jala, Non-Executive Co-Chairman of Sunway Group and Pro-Chancellor of Sunway University, emphasizing the importance of strategic leadership and innovation in propelling local businesses toward global competitiveness. His address reinforced the event’s central theme — transforming regional potential into international impact through collaboration and vision.

The day concluded with the panel discussion “From Start to Scale: The Journey Into Malaysia”, featuring Mr. Choi Jung, Strategic Advisor at ROVIGOS (South Korea), alongside other ecosystem leaders. The panel explored Malaysia’s evolving startup landscape, discussing strategies for foreign companies to establish a strong presence and build sustainable partnerships within the local innovation ecosystem.

Throughout the event, multiple networking sessions, investor meetups, and informal exchanges further strengthened ties among participants, setting the stage for continued cooperation and cross-border growth in the region.

3. Startup Spotlight

🔷 BitGlim (빛글림)

🌟 Company Overview:

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Founded: May 19, 2018

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URL: https://www.bitglim.com/

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Funding History: SEED

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Item Progress: Commercialization stage (Revenue generating)

🌟 Main Products/Services:

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BitGlim’s DIGITERIOR clients share a commitment to enhancing spatial experiences through emotionally resonant and aesthetically refined digital content.

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They value environments that blend technology with art, using ambient visuals to elevate atmosphere, brand identity, or customer comfort.

🌟 Global Expansion Achievements:

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Vietnam:

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Established independent corporation (07/2023)

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Contracted with 8 B2B customers and generated annual revenue of $110K through subscription based service.

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Discussing with local big corporations including Lotte Coralis, VIN group and BIM group about implementing DIGITERIOR service in their venues such as hotels, resorts, offices and etc.

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The U.S.A:

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Established independent corporation (08/2021)

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Contracted with 2 B2B customers

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Focusing on local IP acquisition and service marketing.

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The Philippines and Singapore:

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Direct service export targetting local malls, restaurants, malls and etc.

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Contracted with 5 B2B customers and generated annual revenue of $30K through subscription based service.

🔷 ROVIGOS (로비고스)

🌟 Company Overview:

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Founded: May 11, 2021

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URL: https://www.rovigos.com/?ref=thevc

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Funding History: SEED

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Item Progress: Commercialization stage (Revenue generating)

🌟 Main Products/Services:

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ROVIGOS is an integrated logistics intelligence company focused on unifying fragmented logistics operations into one centralized, intelligent control system. By combining vehicle tracking, container management, warehouse operations, and robotics logistics into a single platform, ROVIGOS addresses one of the most persistent pain points in the logistics industry: lack of system interoperability.

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While many competitors either operate logistics manually or offer limited digital tools that do not scale or communicate with other systems, ROVIGOS is purpose-built to support modular, API-driven, and highly compatible logistics orchestration. For instance, conventional warehouse management systems (WMS) often operate in silos and cannot interact with fleet tracking systems—causing inefficiencies and blind spots. ROVIGOS bridges this gap with a platform that can synchronize data and control across the entire logistics chain, including autonomous delivery vehicles and IoT-based warehouse equipment.

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This interoperability gives ROVIGOS a distinct competitive edge in both developed and emerging markets, where digital logistics transformation is accelerating but remains highly fragmented. Our solution is not just a tool—it's a framework for connected logistics infrastructure in smart cities, global trade corridors, and digitally enabled warehousing networks.

🌟 Global Expansion Achievements:

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Malaysia:

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Operating 90,000 sqf warehouse in Shah Alam with 100 trucks; full in-house OMS, TMS, DAS, WMS systems localized for Malaysian market. Clients include Samsung SDS, LG, Parkson, Yeelee, Redbull, Coca-Cola, and Amsteel.

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Scheduled expansion into East Malaysia starting July 2025.

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Discussing with local big corporations including Lotte Coralis, VIN group and BIM group about implementing DIGITERIOR service in their venues such as hotels, resorts, offices and etc. (2026).

🔷 KO-MAPPER (코매퍼)

🌟 Company Overview:

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Founded: January 21, 2019

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URL: https://komapper.ai/?ref=thevc

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Funding History: PRE-A

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Item Progress: Commercialization stage (Revenue generating)

🌟 Main Products/Services:

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AI automatic detection accuracy of over 90%, with detection speeds of approximately 10 seconds:

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Automatically detects and quantitatively analyzes structural damage such as cracks, spalling, delamination, and efflorescence.

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Automated drawing matching and image alignment functionality.

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Automatically aligns positional data from drone-captured images.

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Automated report generation function

🌟 Global Expansion Achievements:

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Japan:

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Conducted local market research and partner mapping

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PoC coordination in progress

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Uzbekistan:

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Conducted AI-based façade inspection demo on UNESCO heritage site in Samarkan

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Obtained LOI for KOICA CTS Seed 2 support project

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The U.S.A (Georgia):

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Under discussion to establish a joint venture for infrastructure digital inspection business

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Engaging in preliminary due diligence and MoU review with local public and private partners

🔷 MITHRIL (미스릴)

🌟 Company Overview:

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Founded: November 15, 2023

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URL: https://www.mithril.im/?ref=thevc

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Funding History: SEED

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Item Progress: Commercialization stage (Revenue generating)

🌟 Main Products/Services:

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Competes with traditional intelligent CCTV firms(Mithril differentiates through)

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Customizable AI trained on site-specific safety needs

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AI model auto-generation (low-code) capability

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On-device edge AI with full automation including detection, decision, and feedback

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Technological gap estimated 12–18 months ahead of domestic peers and competitors

🌟 Global Expansion Achievements:

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Middle East & North Africa:

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Entered strategic partnership with Elsewedy Group (Egypt) through an MoU signed in February 2025.

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Co-developing localized industrial AI solutions targeting high-growth safety automation markets in Egypt, Saudi Arabia, and the UAE.

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Japan:

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Partnering with TOA Corporation, a leader in physical security systems, to jointly advance Japan’s intelligent surveillance sector.

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Currently engaged in integrating Guardian-Alpha AI into TOA's infrastructure for deployment in high-profile projects such as the Osaka Expo 2025.

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Collaborative roadmap established with site visits and technical workshops ongoing since mid-2025.

🔷 Hilokal (하이로컬)

🌟 Company Overview:

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Founded: June 31, 2020

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URL: https://www.hilokal.com/ko/

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Funding History: PRE-A

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Item Progress: Commercialization stage (Revenue generating)

🌟 Main Products/Services:

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Hilokal differentiates itself from major Korean language learning platforms by focusing on real-time, voice-based communication tailored for foreign workers. Unlike traditional services such as Visang Edu, TalkToMeInKorean, Duolingo, and KoreanClass101 that center on grammar drills, scripted dialogues, or pre-recorded lessons, Hilokal offers :

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Live AI tutors that provide on-the-spot pronunciation and grammar feedback

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Multilingual support and localized content for industrial and workplace contexts

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Low-bandwidth audio-first design, optimized for developing markets and on-site usage

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Integrated LMS dashboards for workforce managers and educators

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These features make Hilokal highly effective for onboarding and training in manufacturing, construction, and service industries—where practical communication is key.

🌟 Global Expansion Achievements:

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Singapore: Secured investment from DOHE International and engaged in PoC discussions for AI-enhanced workforce onboarding

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