- ▶ In-house Startups Receive KRW100 Million Support for Business Activities
- - elected based on comprehensive evaluation of technical merit, business potential, and feasibility of the ideas
- - Selected teams develop technology for one year in independent workspaces
- - Support for business unit transfer or startup launch after final review
- ▶ 100 Employees from Various Fields Participated in the Challenge for 2 Years, Multiple Teams Currently in Operation
- - One team has completed technology transfer to a business unit, now in mass production verification stage
- - Two teams are strengthening technological competitiveness through continuous research and development
- ▶ Aims to Foster Creative Corporate Culture and Discover New Growth Engines
- - CEO Chang Duckhyun urged, “Without challenges, we can neither achieve results nor create new technologies. Let’s make bold challenges.”
Samsung Electro-Mechanics announced on February 17 that it is operating an in-house startup program called S-CUBE to support innovative ideas from its employees.
※ “S-CUBE” stands for Samsung Electro-Mechanics’ CUBE, symbolizing the company’s commitment to unlocking its future through bold and continuous challenges, much like successfully matching colors on a Rubik’s cube after countless attempts.
Any employee can apply for Samsung Electro-Mechanics’ in-house startup program S-CUBE. Selected participants are allowed to leave their regular duties to focus solely on project development. They receive KRW100 million in activity support funds and are provided with an independent workspace.
Samsung Electro-Mechanics explained that it operates S-CUBE to foster a corporate culture where employees can freely express their ideas and take bold challenges, aiming to discover new growth engines through this initiative
Chang Duckhyun, CEO of Samsung Electro-Mechanics, urged, “Without challenges, we can neither achieve results nor create new technologies. Let’s make bold challenges even if we fail,” as he encouraged employees to participate in the in-house startup program.
Samsung Electro-Mechanics launched the in-house startup program S-CUBE in November 2022. Since then, about 100 employees have proposed ideas, and multiple projects are currently in operation.
- ▶ Creative Ideas Alone Are Enough to Take on the Challenge
- - Application Process Simplified, Evaluation Conducted Fairly and Thoroughly
Any Samsung Electro-Mechanics employee with a creative idea can apply for S-CUBE. Proposals are welcome for ideas in promising future industrial fields including automotive, robotics, AI/servers, and energy.
Samsung Electro-Mechanics provides special training for employees unfamiliar with startups. The company invites expert instructors to support employees in developing their ideas through practical education, ranging from an introduction to startups to how to write business plans.
Samsung Electro-Mechanics selects S-CUBE participants by considering various aspects of the proposed ideas, including business potential, market viability, problem-solving solutions, feasibility of the item, and growth potential of the business model. Selected teams can focus solely on project development for one year and receive support including KRW 100 million in business activity funds, an independent office space, and access to various technologies and networks owned by the company.
One year later, at the final project presentation overseen by the CEO and other executives, projects are evaluated based on their business value, technological excellence, and expected outcomes. This evaluation determines whether the project will be transferred to a business unit or supported for startup launch. On the other hand, if there is no follow-up such as commercialization, employees can return to their original departments, providing an environment where staff can take on challenges without burden.
An employee currently participating in S-CUBE said, “The appeal was being able to work freely in a separate organization with an independent space and budget,” adding, “I gained confidence in fully realizing my ideas in a great work environment.”
Yoon Hyojin Pro from the New Business Task Force overseeing S-CUBE, stated, “Our goal is to spread a creative organizational culture where employees can freely express ideas and take on challenges in their regular work through experiencing a startup-style research culture.” Yoon added, “With each passing year, we see employees with increasingly original ideas taking on these challenges.”
- ▶ Fostering Creative Corporate Culture and Discovering New Growth Engines
Samsung Electro-Mechanics is operating S-CUBE to cultivate a corporate culture where employees can take bold challenges and to discover new growth engines for the company.
Since its inception in 2022, S-CUBE has received applications from about 100 employees, resulting in 40 ideas being submitted. Among these, multiple teams were selected for S-CUBE and received support through the startup program. One team has successfully transferred its technology to a business unit and has entered the mass production verification stage. Meanwhile, two teams are enhancing their technological competence through ongoing research and development. Currently, Samsung Electro-Mechanics is recruiting for the 5th round of S-CUBE, scheduled for selection in June 2025.
Samsung Electro-Mechanics plans to continue discovering new business ideas from employees through its in-house startup competition. The company aims to create future growth engines by actively supporting selected outstanding ideas to be nurtured into new businesses.