[ad_1]
Samsung has started taking applications for its Mobile Advance (SMA) program for 2023. It is an equity-free grant funding scheme for tech startups working on new proof-of-concept projects. Established companies, research institutes, and other organizations building innovative technologies can also apply to the program. Companies headquartered in Europe, Canada, Israel, China, Japan, India, and the US are eligible for participation.
Launched last year, the SMA program grants funding and mentorship to innovative ideas across various tech niches over six months. Samsung says Cameras, Power, Audio, Health, On-device AI, Metaverse, ESG (environmental, social, and corporate governance), Advanced Materials, Sensors, AR (augmented reality), Wearable, and Foldable technologies are among the areas of interest this year. However, the program will also fund projects in other niches if the company finds them groundbreaking.
Selected tech startups will also get mentorship from Samsung R&D
According to the Korean behemoth, it is looking for “cutting-edge technologies that improve devices for more powerful and longer-lasting performance”. Ideas that enable a “unique user experience based on new mobile form factors such as foldable and wearable” are also on its radar.
Samsung is currently accepting applications for the program from startups and established companies in the aforementioned regions. Applications are open till the end of March. The company will evaluate all proposals in April and invite the selected applicants to pitch their ideas in person in May.
Selected firms will elaborate their projects with all necessary details in front of a panel of Samsung experts. Once all companies have pitched their ideas, the company will pick the ones that fit best in its vision.
The winning ideas will receive equity-free funding of $50,000 from the Korean conglomerate to work on the project. Samsung’s R&D (research and development) teams will also provide mentorship to the firms and help them in their development for six months starting in July this year. They will get “deep access to Samsung mobile devices and software”.
In February 2024, Samsung will invite these firms to present their demos. Depending on the final result, the tech behemoth may pick a few solutions and adopt them in its product and services.
It may also offer long-term partnership opportunities to these startups. SMA is a platform for innovative ideas to make it to the big stage in a short time. Startups that are already part of other funding programs such as an incubator or accelerator can also apply to Samsung’s Mobile Advance program. More details can be found on the company’s official website here.
[ad_2]
Source link