GODTECH Co., Ltd. (operator of Elcycle) selected for the 6th Impact Up program by Kyobo Life, adding value to the world.
On the 15th, Kyobo Life announced that through 'Let's add impact to the world! UP!' (hereafter 'Impact Up'), it has nurtured 131 teams over the past six years and provided quality services to more than 100,000 vulnerable people.
Since 2018, Kyobo Life has been conducting the 'Impact Up' project, a new social contribution model integrating digital technologies, in partnership with the foundation Honghap Valley.
Impact Up is a social contribution project based on accelerating support that discovers and nurtures young entrepreneurs who create ESG (Environmental, Social, and Governance) values in sectors like healthcare and education using information and communication technology (ICT), and supports the products and services they showcase to vulnerable groups.
Impact Up programs 1 to 3 (2018-2020) focused on nurturing impact companies that create social value for future generations, such as children and adolescents, while from the 4th program (2021), the target has been expanded to include companies that support socially vulnerable individuals through environmental value creation and build a culture of environmental protection.
On the 17th of last month, Kyobo Life and Honghap Valley held the '2023 Impact Up Demo Day' at the Honghap Valley Gangnam store in Gangnam-gu, Seoul. As the final process of the '2023 Impact Up' 6th program, nine impact companies that create social and environmental values participated in IR pitching.
At the event, the 'GIMO' (a fintech company for early salary payment targeted at socially vulnerable groups) which won the award at the 'Vietnam Impact Up Summit' held in September to nurture overseas young entrepreneurs was invited, drawing attention with a presentation of impact services.
The winner of the demo day was 'Sheco' (CEO Kwon Gi-sung), an environmental social venture that produces robots to recover liquid and dust pollutants in seawater. The grand prize went to 'SaveTree' (CEO Ha Yong-hoon, developing IoT products for tree diagnosis and solutions for checking and managing tree health), and the excellence award was given to 'Regeneration Partners' (CEO Hong Sin-ui, providing solutions to address rainwater flooding using resource recycling and IoT technology).
Additionally, △ GODTECH (a platform for reusing and selling industrial scrap metal), △ Daily Talk (an online language rehabilitation platform for children with developmental disabilities), △ Safe Lab (a platform for real-time reports and communication in emergencies based on location), △ Shelfia (an eco-friendly de-icing agent using upcycled shellfish shells and waste acid), and △ Kenya Revolution (a smart irrigation control and monitoring system for growing Kenaf) participated, providing opportunities that could help future business development.
Through the Impact Up program, Kyobo Life has discovered a total of 991 impact companies to date and nurtured 131 teams among them. In particular, the products and services of the companies that received intensive nurture and commercialization support were provided to more than 106,000 vulnerable people, including future generations and socially vulnerable individuals, and it was possible to create eco-friendly values such as reducing carbon emissions and waste.
Kyobo Life's Cha Kyung-sik, head of the Kyobo Dasom Support Centre, stated, "Through the Impact Up project, we have discovered ESG startups to support over 100,000 vulnerable people and have strived to build a sustainable ecosystem by creating social and environmental values in terms of ESG." He added, "We hope that the Impact Up 6th program companies participating this year will spread positive influence across society through quality products and services."
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