Award[Pact-Alliance - Grand Prize] East-West Power in-house venture, consecutively selected as a government project and rewarded by external organizations

Steady tangible results such as sales, jobs, and investment attraction by advancing business feasibility

[Energy Daily Reporter Song Byeong-hoon] Korea East-West Power (President Il-Jun Park) announced on the 16th that its two in-house ventures were recognized for their business success potential and competency through successive government project selections and awards from external organizations despite the Corona crisis.

East-West Power's 1st in-house venture (Ecups) and 2nd in-house venture (Fact Alliance) won the Small and Medium Venture Business Department's Chungnam Branch Director's Award (the grand prize and the grand prize, respectively) at the start-up competition at the Dangjin Job Fair held on the 14th.

East-West Power has been operating a total of four in-house venture teams, including a new in-house venture launched in September of this year, after establishing a startup revitalization and support system tailored to the characteristics of public enterprises since 2018.

Among them, ECUPs Co., Ltd. is an energy social enterprise, working to solve social problems such as recycling plant waste resources and creating jobs for the underprivileged.

In 2019, it received the Minister of Small and Medium Venture Business Award, the highest award at the 2019 in-house venture revitalization award (organized by the Ministry of SMEs and Startups), and in September, it became the first public institution in-house venture to obtain the preliminary social enterprise certification from the Ministry of Environment.

Fact Alliance has started developing an artificial platform for heavy electric equipment diagnosis that tests high-voltage electrical equipment (generators, transformers, motors, etc.) and analyzes the data.

It is a project that is expected as a promising post-coronavirus technology because it enables non-face-to-face facility management.

In addition, in September, it was selected as a participating company in the '2020 Gibo Venture Camp' (organized by the Korea Technology Guarantee Fund), a program that supports mentoring and R&D along with financial support for start-ups in collaboration with a private accelerator, and its technology and growth potential were recognized.

Along with steady sales growth, six additional young technical talents were hired to develop solutions, taking the lead in revitalizing the recruitment of venture companies that have recently contracted due to COVID-19.


An East-West Power official said, “Ecups and Fact Alliance have improved their business feasibility through business verification and supplementation since their inception and are showing steady tangible results such as sales, jobs, and investment attraction.” We will do our best to realize social values such as laying the foundation for technology start-ups and creating jobs through this support.”

Source: Energy Daily 



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