Partnering opportunity

South Korean software company in information sharing economy sector is looking for European partners under joint venture agreement and license agreement.

Summary

The South Korean company is a brand new one established in 2016 specialized in developing information sharing economy platform (smartphone application and web services). This company is planning to start a global business with European partner under joint venture agreement and license agreement.

Partner expertise sought

The goal of the company is to create new sharing economic model that returns a profit to the individual by sharing a product information including purchase information. To achieve that, this South Korean company is looking for European partners as their first global partner under joint venture agreement and license agreement. The company would like to participate in a national research project such as HORIZON 2020.So the company is looking for incubators, angel investors, accelerators, impact investment partners. Investors who are interested in developing a new type of sharing information economy service are welcomed. Companies or accelerators who can help the company develop skills for the local market could also be the potential partners. For example, companies who want to advertise their products through this platform to Korean customers who visit there can invest in this service. The basic terms of the joint venture agreement are : Independent patent protection in corresponding area. Registering and transferring patent rights in Europe and other countries to a joint venture or providing license agreements. In addition, the company intend to make a joint venture on the condition that they grant patent rights(same as above) of third countries(Canada, India, Japan, etc.). They have a PCT filing period remaining until July 22, 2018. Licensing Agreement An app software developer with the ability to develop and release software to suit the mood of the local market or company that wants to bring services to Europe and local markets are welcomed. The company which have a strong willingness to have supports from regional and national programs could also be the potential partners.

Description

The company was founded in 2016 and is in a type of the software production and consulting business. The company mainly provides applications and web services. The goal of their business model is to become a personal walking shop. This product, information sharing economic model will change society.Product’s purpose of use is a platform that makes it easy to search for goods (food, fashion, etc.)of shops and people located in the area. Principle of operation is searching products by touching product category and function(color, pattern, etc.) It is a shared economic model in which people and commodity sellers are compensated for providing information. Shared information is fashion information, food information, advertisement information, and so on. This South Korean company’s patent is a search method that does not need to take a picture with a camera, and it can be utilized variously based on its broad right. The company does not have domestic clients yet because it is a new shared economic model. However, the company is planning to supply to tourist spots (food and fashion companies), shopping malls , sightseeing spots, amusement parks and theme park where the sellers of the commodity are gathered. Their patent in Europe and China is in process now for 6 months preparing for expanding their business to Europe and Asia. To start with, the South Korean company is looking for partners such as incubators, angel investors, accelerators who want to raise the income of residents and dealers in the area in the form of new shared economic business model(a shared economy that returns the existing commission to the people) by investing to this service. They have a strong willingness to have public-funded support from regional and national programs. Joint venture agreement and license agreement are desired.

Advantages and innovations

- An app/web service that solves the limitations of product search on existing Internet search sites. (Because identifying and defining products ( food, fashion ) in language can be different so, this service search by category, color and patterns and other design features.) - The searching methods that improves the convenience of searching, shortens the shopping time, and can be easily understood by foreigners using other languages - Lets customer search for issues whose product names can not be combined into a single word by category and feature.(This overcomes the difficult of expressing fashion design in language.) - In addition, by touching twice or three times, an overseas tourist can see the food menu of the shop and the newly released clothes as thumbnails.

Development stage

Not available

Intellectual Property Rights (IPR)

Patent(s) applied for but not yet granted,Patents granted


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