OREANDA-NEWS. December 04, 2014. POSCO hosted Start-up Day at the main conference hall in its headquarters to support promising venture businesses and spur job creation for young people living in Pohang.

POSCO first started the Start-up Day last October as a contest aimed at venture businesses in Pohang, as a way to promote excellent ideas to the public and provide an opportunity to match entrepreneurs with investors. Five excellent venture businesses in Pohang were finally selected by a professional screening team, and STRADVISION (president: Jeon Bong Jin, doctor in computer engineering in POSTECH), which involved the development of wearable artificial intelligence software, was awarded the grand prize.

The idea of the ``Development of localizing water seal valve to block byproduct gas`` by SMARTMTECH (President: Lee Gi Hong) at the Pohang Techno Park was awarded first prize. The runners-up were Jeon Young Kwon (Research professor at the National Institute for Nanomaterials Technology in POSTECH), Shin So Hyun (Master of Industrial & Management Engineering in POSTECH) and Kim Eun Hye (Senior in Business Management and Economics in Handong University), who are each planning to start up their own businesses.

STRADVISION, which was awarded the grand prize for its concept of wearable artificial intelligence software, is a company which develops technologies to detect and recognize salient information from images derived from the cameras of wearable equipment such as Google glass and Smart watch, which are seen as the new direction for mobile technology development.

In his award acceptance speech, the president of STRADVISION, Jeon Bong Jin expressed his ambition thus: ``Although we are currently focusing on the face, people and texts as the information that can be derived from images, we will take one step forward to become the world?s first technology leader to focus on new ways to expand the opportunity for use.``

The winners of this event introduced their venture business ideas through a business presentation. At the 8th Idea Marketplace event which will be held on November 25th, these five venture businesses will have the chance to introduce their business to investors.

The exhibition hall displaying the prototypes of all participating companies was very well-received by investors and university students who were able to see and experience the idea products of promising venture businesses.

Several prominent Pohang officials participated in this event, including member of the National Assembly Lee Byung Seok and the mayor Lee Gang Deok, as well as the heads of venture-related organizations, the public and 250 executives and staff from POSCO Group, including the vice-president, Lee Young Hoon, the director of RIST, Woo Jong Su, the president of POSTECH, Kim Yong Min, and the manager of Pohang Iron & Steel Corporation.