Kim Dong-yeon Seeks Startup Success Know-how Through Silicon Valley Unicorn Company Visit

[Suwon Ilbo=Kim Gab-dong, Reporter] Governor Kim Dong-yeon of Gyeonggi Province, visiting North America to strengthen international cooperation and attract foreign investment, visited Viz.ai, one of Silicon Valley's unicorn companies, alongside local startup representatives to share success experiences and discuss cooperation plans.

Five AI-related companies based in Gyeonggi Province—Creple Co., Ltd., AbleJ Co., Ltd., NHN CLOUD, Saeron Solution Co., Ltd., and AI for Blockchain Co., Ltd.—joined the meeting.

The province explained that the visit was arranged to provide local startups with opportunities to find new perspectives and possibilities through sharing successful international cases.

Governor Kim visited Viz.ai, a unicorn company located in Silicon Valley, on the afternoon of the 8th (local time) and shared views with founder and CEO Chris Mansi.

The medical imaging diagnostic system developed by Viz.ai is an AI-powered medical and patient care platform that uses artificial intelligence to assist in analyzing medical images and diagnosis. It detects stroke within seconds of brain CT imaging, identifies suspected patients, and immediately notifies specialists via mobile phone, helping ensure rapid response and treatment for high-risk patients. The AI received FDA (Food and Drug Administration) approval in 2018 and garnered significant attention. It is currently used by over 1,400 hospitals in the United States and Europe. The company is valued at $1.2 billion (approximately 1.65 trillion won), making it a representative unicorn company in the U.S. healthcare sector. A unicorn company refers to a privately held startup founded within the last 10 years with a valuation exceeding $1 billion.

Governor Kim stated on the day, "This visit has two purposes: one is to share good experiences by conversing with the startup representatives who came with us and Viz.ai, which has become a unicorn company," encouraging open dialogue. In response, startup representatives from Gyeonggi Province actively asked questions, sustaining an animated conversation for over an hour.

Suh Eun-seok, CEO of Creple Co., Ltd., a visual intelligence solution company based on AI technology, asked about how medical information, a form of personal data, could be collected and how business activities were conducted. Other representatives posed questions about convincing investors and overcoming crises.

CEO Chris Mansi responded to Suh's question, saying, "While dealing with many stroke patients, I found a doctor who thought, 'Don't we need this kind of technology (AI diagnostic technology)?' and persuaded him that 'I can do this,' and received data shared with us." He advised, "In the beginning, it's important to find people who need your technology."

Regarding how to persuade investors, he said, "It helped to emphasize that through AI technology, which might seem vague at the early stage of business, we can solve real-world problems." On how to overcome crises, he stressed, "Since every process is a challenge, it's hard to say which time was the most difficult. You must continually overcome something."

At the end of the conversation, Governor Kim explained the second reason for the Viz.ai visit, stating, "Gyeonggi Province is implementing the 'Always Comfortable AI Care' business, which uses AI algorithms to create health reports for the elderly and conduct periodic dementia risk group screenings." He added, "Although still in a pilot phase, I would like to hear opinions on whether Viz.ai's technology can be applied or utilized in such services."

In response, CEO Chris Mansi expressed positive intent, saying, "I think it's a very good idea. I'm particularly interested in dementia treatment as well."

Prior to the Viz.ai visit, Governor Kim visited the San Francisco headquarters of the Fourth Industrial Revolution Center (C4IR) at 2 p.m. on the same day and engaged in conversations with Natalia Guseva, Head of Financial Markets Initiative, and Yunseomun, Head of Network and Partner Innovation. Sebastian Buckup, Director General of the World Economic Forum (WEF) Fourth Industrial Revolution Center, and Kim Hyun-dae, Director of Future Growth Industries of Gyeonggi Province, also participated in the conversation via videoconference.

The Fourth Industrial Revolution Center (The Centre for the Fourth Industrial Revolution, C4IR) is a public-private partnership hub established and operated by the World Economic Forum (WEF) in consultation with countries or regions to promote global cooperation and collective responses to various issues during a period of rapid scientific and technological change epitomized by AI technology.

Since its initial establishment in San Francisco, United States in 2017, 15 centers worldwide are currently operating in Michigan and Texas in the United States, Japan, India, the UAE, Israel, and other locations. Germany, Vietnam, and Qatar are scheduled to establish three additional centers this year.

Gyeonggi Province is currently consulting with the WEF regarding the establishment of a Fourth Industrial Revolution Center in the province, and is continuing efforts to derive the best plan through close discussions with the Gyeonggi Provincial Assembly.

Sebastian Buckup, Director General of the World Economic Forum (WEF) Fourth Industrial Revolution Center, stated, "We have not yet completely confirmed the character of the center being discussed for establishment in Gyeonggi Province, but we are in consultations with a focus on startup support." He added, "Since there has been no center that explicitly prioritizes startups until now, this is very significant and is expected to play a special role."

Governor Kim responded, "I am pleased that this would be the first center concentrating on startups. I would be grateful if you continue to contact us with good examples or suggestions from other centers."