EasternGear Wins Excellence Award at Rechallenge Success Package Reignite IR Event
2024 Rechallenge Success Package Reignite IR Held
On November 14, 2024 (Thursday) from 1:30 p.m. to 4:30 p.m., the “2024 Rechallenge Success Package Reignite IR” event took place at Urban Creators in Sinchon.
Hosted by the Ministry of SMEs and Startups and the Korea Institute of Startup & Entrepreneurship Development (KISED), the event featured representatives from nine startups selected for Reignite, who introduced their companies and business items in a relay format.
About the Rechallenge Success Package Support Program
The Rechallenge Success Package is a support initiative managed by KISED. It aims to discover high-potential entrepreneurs who are restarting their businesses within three years of founding, leveraging their prior business experience and outstanding ideas. Through a comprehensive, package-based support system, the program strives to improve the success rate of these entrepreneurs’ new challenges.
Types of Support:
This year, the scale of support for “re-entrepreneurs” expanded from 117 to 282 individuals. The program provides focused support by dividing participants into general and IP-strategy categories.
Highlights from the Rechallenge Success Package Reignite IR
Nine startups selected for Reignite, including those chosen at joint IR sessions, those recommended by large or mid-sized companies, and those selected at integrated IR sessions, participated in this event.
Each of the nine Reignite startups was given eight minutes to present and seven minutes for Q&A, for a total of 15 minutes each. By the end, one Grand Prize winner, one Top Excellence Award winner, and two Excellence Award winners were announced.
EasternGear’s Technology: Next-Generation Field Robot Reducer
EasternGear showcased its next-generation field robot reducer, the “Globoid Worm Gear Transmission,” designed to optimize durability and cost-effectiveness. This technology supplies globoid worm gears, which are especially suited for miniaturized and precision-focused industrial applications. The gears are designed to mesh in layers, allowing flexible assembly in tight spaces.
By ensuring simultaneous contact across the gear surface, this design minimizes vibration and noise while focusing on enhanced durability.
During the presentation, CEO Kwak Yoo-hyeon highlighted how EasternGear’s gear reducers have improved performance when applied to parking robot reducers, electric vehicle molding equipment reducers, and welding robot index reducers.
EasternGear Wins Excellence Award at Reignite IR
On November 14, 2024, EasternGear received the Excellence Award at the Rechallenge Success Package Reignite IR event. This accolade represents an official recognition of the company’s technological prowess and business potential.
Their next-generation field robot reducer, the “Globoid Worm Gear Transmission,” garnered high praise for its suitability in industries requiring miniaturization and precision, as well as its ability to enhance durability while minimizing vibration and noise.
CEO Kwak Yoo-hyeon remarked, “Using this award as a stepping stone, we aim to further strengthen our global market position through continuous technological innovation.”
