ulalaLAB is a startup company that envisions a world where happiness is driven by technology. With our goal of accelerating the transition into the smart future, we’ve set our mission to guide connected technology in the right direction by focusing on problems that need to be solved. And by doing so, we aim to change lives and improve industries around the world.
Back in 2016, we decided to take part in the ITU Telecom World Awards in order to win and gain more credibility – which we did. ITU Telecom World provided us with a great opportunity to showcase our technology and capabilities on a global stage, and being one of the Award winners was a great credibility booster. For a startup, being able to prove yourself is a hard and challenging task. The audience has only a vague idea of how exactly your product works and what differentiates you from the others, so answering all those burning questions that our potential clients, partners and investors usually have, as well as getting important feedback from experts from around the world, was very useful and fulfilling for our project. We were able to get more from this event by meeting people from different backgrounds and increasing our business network.
In the past year, we have started mass producing our industrial IoT devices and increased our device portfolio, as well as considerably upgraded the hardware and software capabilities of our core technologies. We have signed partnership deals with many prominent companies and institutions such as Atlas Copco for joint ODM product release, Penta Security Systems for IoT security collaboration and Sogang University’s Department of Industrial Mathematics for joint machine learning development.
WimFactory, our smart factory platform has already been implemented in several factories here in Korea as well as Nike and Adidas shoe factories in Indonesia, China and Vietnam.
We are currently seeing significant business growth and are already in the process of expanding beyond the WimFactory business to other areas where our IoT device ‘Wicon’ can be implemented synergistically, such as in smart farming – our ‘WimFarm’ will pilot in China sometime this autumn. But as a priority, we are concentrating on strengthening our smart factory business with joint ventures in strategic regions and further R&D investments with Series A investment round funding happening in the second half of next year. We have added a regional office in Beijing, China, which oversees all partnership and buyer relations in that region. And we are actively seeking partners in North America and Europe both in terms of R&D and distribution collaborations.
We believe that there are still many small and old factories in India, Southeast Asia, South America and East Europe that need our technology. We aim to expand our business both home and abroad with any form of business cooperation (JV, business collaboration, branch, etc.).
SMEs are crucial for our business and even more important for ICT ecosystem. Comprising over 90% of all enterprises, SMEs drive the economy and are main GDP contributors in many countries. However, important shifts such as 4th Industrial Revolution remains largely a dream for the majority of SMEs. Industry 4.0 puts most of the industries in a dilemma in terms of cost, human power, complexity and time. Continuous innovation in the area of ICT makes it possible to address these issues by producing better and more affordable products that can increase productivity and the quality of production process for those SMEs, significantly benefiting the world economy itself as a result. At ulalaLAB, we aim to bring innovative solutions for all manufacturers whether they are small, medium or large.
With that in mind we are returning to ITU Telecom World 2017 in Busan, Republic of Korea, this September to further expand our global network and seek potential partners from strategic regions in Asia, North America and Europe.