Hwasung Jeon's Entrepreneur Morning Insight Ep. 1105: Redwit

The YouTube program ‘Startup Morning Coffee,’ which ushers in the vibrant morning of the startup ecosystem, is meeting viewers daily at 8:40 AM on the ‘Jeon Hwa-sung’s CNTV’ channel, hosted by CEO Jeon Hwa-sung. This program deeply illuminates the core competencies and market potential of various startups, establishing itself as a valuable platform for information that resolves curiosities about startups through real-time communication. The company recently highlighted by ‘Startup Morning Coffee’ is ‘REDWHIT.’ Founded by KAIST alumni entrepreneurs who pooled their talents, REDWHIT offers an innovative solution to the chronic problems faced by technology-based companies, such as failure to attract investment due to inadequate intellectual property (IP) management or the leakage of core technologies. Their IP and technology asset management service, ‘GOONO,’ based on blockchain and AI technology, focuses on safely protecting companies’ valuable research achievements and maximizing their value. GOONO supports researchers in consistently uploading all forms of research data they commonly use, such as Excel, PPT, Google Drive, and code, and easily assists with compliance with strict regulations like electronic research notebook laws, GMP, and FDA. These features play a crucial role in minimizing legal and administrative risks that companies may encounter during the R&D process, and furthermore, in strengthening the evidentiary power of technology assets. REDWHIT is currently enhancing its capabilities by undertaking CNTTECH’s Campus Town support project. REDWHIT’s core competitiveness shines in its blockchain-based ‘anti-tampering’ technology and AI-based ‘technology valuation model.’ Utilizing blockchain technology, it fundamentally prevents the forgery and alteration of all uploaded data, allowing managers to transparently understand research progress. Furthermore, when sharing sensitive data, it blocks the risk of leakage through strong security settings and thoroughly tracks and manages access history. The currently developing AI-based report generation and technology valuation model helps companies recognize the value of their data themselves and strategically set R&D directions, while providing investors with reliable standards for technology verification. REDWHIT has not only been selected as a trade secret original proof technology but also holds blockchain patent technology for anti-tampering, thus proving its technological prowess. CEO Jeon Hwa-sung offered deep insights into REDWHIT’s business model. The ‘GOONO’ service operates as a B2B SaaS, combining an annual per-user license sales model with an on-premise model to meet the diverse needs of corporate clients. He emphasized that it recorded 1.2 billion won in sales last year and has established a stable revenue model by charging an average annual fee of 1.75 million won per company. REDWHIT, which is bringing a wave of innovation to the intellectual property and technology asset management market through cutting-edge technologies like blockchain and AI, is expected to continue its steady growth.