Spaces Bank, a specialist in AIDX (Intelligent Digital Transformation), has been finally selected for the ‘Global Startup Academy 6th Class’ hosted by the Ministry of SMEs and Startups. With this selection, Spaces Bank plans to accelerate its global expansion strategy targeting the Southeast Asian market.
The Global Startup Academy aims to nurture unicorn companies by selecting startups in ultra-gap and new industries with high global scalability, providing comprehensive support for their growth, including essential commercialization funds, mentoring, and investment attraction for entry into overseas markets.
Spaces Bank is primarily offering its ‘AIoT Wright’ solution, which integrates AI and IoT technologies to manage heterogeneous sensors on a single platform with an intelligent control function. This solution enables real-time monitoring efficiency across various industries, including smart cities, smart factories, human care, and facility management, and can also integrate with mobility IoT such as robots.
Spaces Bank established a local subsidiary in Indonesia at the end of last year. Indonesia is a market with a population of over 280 million and a young consumer base, currently experiencing rapid growth in e-commerce, fintech, and cloud sectors. Spaces Bank aims to leverage this market environment to secure competitiveness and establish a global hub.
CEO Wonhee Lee of Spaces Bank stated, “The selection for the Global Startup Academy has provided a solid momentum for the company’s global expansion strategy,” and added, “We will expand our business to major countries in Southeast Asia, based on our Indonesian subsidiary.”
Through this selection, Spaces Bank has been included in the ‘Global 5G Program’ support target, securing infrastructure for diverse growth, including not only commercialization funds but also mentoring and investment attraction. Spaces Bank had previously obtained cloud security certification (CSAP) and grade 1 software quality certification (GS), recognizing its technological capabilities, and is participating in the technology development project TIPS operated by the MSS and the Korea Angel Investment Association.
The company plans to accelerate digital transformation in public and private sectors by advancing user behavior guidance and decision support systems utilizing large language models (LLM) in the future.