AETECH, advances to the finalist of the WIPO Global Awards
'The AI-based domestic waste automatic sorting robot, Aitron, and resource recycling automation system' by the South Korean startup 8Tech has been nominated as a finalist for the 2024 WIPO Global Award.
WIPO announced the 25 finalists for the '2024 WIPO Global Award' competition, which invites small and medium-sized enterprises and startups worldwide that have transformed innovation and creativity into practical solutions using intellectual property (IP), on the 22nd (local time).
Now in its third year, WIPO's Global Award received 667 entries from 107 countries, marking a 21% increase in submissions compared to 2023 and three times more than in 2022. WIPO stated that 25 small and medium-sized enterprises and startups that have achieved innovation in various economic sectors, including food, green tech, health, ICT, and creative industries, were selected as finalists.
In the final candidate list announced by WIPO, 8Tech, which has only been in operation for three years, secured the top spot. The company received the 'Technology Innovation Small and Medium Enterprise (Inno-Biz) Certification' last year after significantly improving the waste segregation process using robots.
8Tech developed Korea's first AI-based waste sorting robot, 'Aitron,' and is supplying it to local governments and other organizations.
Meanwhile, the winners of the 2024 WIPO Global Award will be announced at the award ceremony held during the WIPO General Assembly on July 12.
This year, there were several changes to the competition. A startup category was newly established alongside the small and medium enterprises category, and it is reported that the selection process focused on evaluating the companies' contributions to sustainable development goals, emphasizing the importance of innovation.
Winners will receive mentoring support for intellectual property (IP) strategies, including funding, partnership opportunities, and promotional support.
This award aims to encourage the commercialization of IP assets by introducing inventors, creators, and entrepreneurs who achieve business goals, generate income, create jobs, solve local and global issues, and support community and national development through the utilization of IP.