SK Telecom launches TEAC applications to support 5G startups
By Akshay Kedari  Date: 2020-06-01

SK Telecom launches TEAC applications to support 5G startups

SK Telecom, a South Korean telecommunications firm, has recently launched TEAC (TIP Ecosystem Acceleration Center) program applications to produce new and advanced growth drivers with the help of next-gen 5G edge services to aid businesses as they come out of the COVID-19 phase. 

For the record, TEAC is a global ecosystem that appeals both investors and startups to join forces to attain substantial breakthroughs in the telecom sector. The company has been running TEAC since 2017 in Korea, while BT and DT are functioning TEACs in the UK and Germany respectively. 

As a result of the COVID-19 pandemic, the market is experiencing a heavy surge in demand for non-face-to-face solutions like cloud gaming, online learning and concerts. These activities usually require ultra-low latency which is enabled by 5G edge cloud.

To boost its developments in edge computing and 5G networking, the South Korean firm is inviting several aspiring startups that either have expertise in non-face-to-face solutions or 5G edge services/infrastructure. 

SK Telecom would allow the selected startups to develop and test new solutions on its commercial mobile networks while identifying new business opportunities as well as attracting fresh investment from venture capitals.

Additionally, the company intends to introduce these enterprises at the TIP Summit 2020, which is planned to happen somewhere in the fourth quarter of 2020. This summit would offer exciting opportunities for startups to collaborate with TIP member firms. 

As of now, SK Telecom has managed to back a total of six startups via its TEAC program while helping them to reach success. Optella is one firm that has successfully created 5G Optical Engine and managed to become a subsidiary of Cosemi Technology Inc.

Meanwhile, Singapore based startup, Transceletial is nearing to close a Series A funding round and has inked multiple contracts with global firms in 2018 to deliver its wireless optical communication technology.

Source Credit: https://www.sktelecom.com/en/press/press_detail.do?page.page=1&idx=1463&page.type=all&page.keyword=

About Author

Akshay Kedari    

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

Abcam & Cancer Research UK join forces to accelerate cancer research
Abcam & Cancer Research UK join forces to accelerate cancer research
By Akshay Kedari

Cancer Research UK, one of the world's biggest independent funder of cancer research, has recently joined forces with Abcam plc, a leading developer of life science tools and reagents, to commercialize and develop novel custom antibodie...

Kerbal Space Program unveils new ESA missions simulation update
Kerbal Space Program unveils new ESA missions simulation update
By Akshay Kedari

Kerbal Space Program, a space flight simulator video game, has launches its new Shared Horizons update across the European frontier. Reportedly, this new update would allow players to recreate ESA (European Space Agency) missions to Mercury and to a ...

Google acquires Canadian augmented reality wearables firm North
Google acquires Canadian augmented reality wearables firm North
By Akshay Kedari

In a recent turn of events, a Canada based augmented reality (AR) wearables company North, has reportedly been acquired by Google for an undisclosed valuation. Based on the reports from Globe and Mail, the deal accounted for USD 180 million. For tho...

Librestream raises $24M through CBGF-led Series-D funding round
Librestream raises $24M through CBGF-led Series-D funding round
By Akshay Kedari

Winnipeg based augmented worker enterprise solutions provider, Librestream, has reportedly raised an amount of $24 million through a Series-D funding round led by Canadian Business Growth Fund (CBGF). The company will use the procured funds to boost ...

John Lewis to soon unveil its biomethane gas filling station
John Lewis to soon unveil its biomethane gas filling station
By Akshay Kedari

UK-based retail giant, John Lewis Partnership has recently announced construction of its dedicated biomethane gas filling station in an effort to curb carbon emission. This move is deemed to be a part of the its vision to become carbon neutral across...