Korean Tech Venture, Flitto Wins Grand Prize in IDEAS Show Startup Battle.
A Korea-based Social translation platform named Flitto, has recently manage to win the a grand prize in Taiwan’s largest startup conference, “IDEA Show Startup Battle.” This awards winning shall further raise the company’s reputation and secure a bridgehead for expanding its business into China.
Hosted by the Taiwanese National IT industry Promotion Agency, the IDEAS Show was held between July 24th and 25th and is the biggest startup conference in Taiwan. A total of 58 startup ventures from all over the world have participated in this year’s conference.
Along with Flitto, eight other companies from Korea were also exhibited during the conference with the support gained from “Smart Contents Business in China Strategy Supporting Project” co-initiated by the Ministry of Science, ICT and Future Planning of Korea and the Korea National IT Industry Promotion Agency.
The startup battle, in which Flitto successfully won, is indeed the highlight even of the conference where startups from all over Asia boasted under their business Ideas. A total of 33 companies competed during this year’s battle, and their ideas were evaluated based on the criteria of creativity (25%), business model (25%), team construction (20%) and global viability (30%) by the judging committee of 10 venture capitalist and 10 officials from sponsors.
Flitto won the grand prize along with Brand Pit from Singapore and VM5 from Taiwan receiving high praises from the judges for innovativeness and viability of their platform in global markets.
Initially launched during 2012, Flitto is a social translation platform where user can either ask for a translation or provide translation for others. Since it’s actual humans who are doing the translating on the platform, nonsensical and often preposterous translation which existing machine translation software programs have provided can be avoided.
One may also expect a fast translation upon the sent request as the application presents live-time connection of the users. Till now, the cutting-edge translation contains over 3.3 members from over 170 different countries and translation on various contents including text from SNS, audio files, and images have been exchanged.
Flitto has been placed in the spotlight of tech industry since it was previously selected for Incubating Program of Tech Star London during 2012, as the very first company from Asia to be chosen. The company gained more attention by winning all of the tech competition that it has manage to participate in, this includes IDEAS show.