IVS, led by CEO Bae Young-hoon, said on Dec. 21 that it has been selected as the “Defense Innovation Company 100,” a project to foster promising small and medium-sized companies that will lead new defense industries (AI, space, semiconductor, robot, and drone) organized by the Defense Acquisition Program Administration (DAPA).
At the ceremony held at the War Memorial of Korea in Seoul on Dec. 20, defense industry officials, including Minister Eom Dong-hwan of the DAPA, attended. A total of 18 companies, including three companies including IVS in the AI field, one company in the robot field, five companies in the drone field, two companies in the semiconductor field, three companies in the space field, and four others, were selected in the “Defense Innovation Company 100.”
Under the Defense Industry Development Act, this project selects and intensively fosters 100 small and medium-sized enterprises (SMEs) with potential for innovative growth in the defense sector to prepare for future changes in the battlefield caused by the Fourth Industrial Revolution.
Under the project, DAPA selects a total of 100 companies for five years, about 20 each year from 2022 to 2026.
Major support projects include comprehensive consulting in the defense sector, funds, R&D, and export assistance, and other support is provided in a full package according to the growth stage and demand of the company.
As part of the military rapid project in 2021, IVS developed an AI warning system that combines AI image and sound source analysis technology for the first time in Korea, installing and operating it on site.
IVS also developed military-related products in many AI fields such as sniper location, gun and bullet detection systems using AI sound source analysis technology.
CEO Bae Young-hoon said, "IVS has been carrying out many military-related projects through AI image analysis and sound source analysis technologies accumulated over the past 12 years.”
He also added, “With this selection, we will become a competitive company in the global market by possessing the technology to lead the new defense industry that the government is focusing on.”
