Momentum secures Korean wireless deal
Momentum secures Korean wireless deal
Melbourne startup Momentum Technologies Group has snared a deal with listed Korean technology company INCR to distribute its wireless videostreaming product in one of the world’s hottest broadband markets.
The deal, signed at INCR’s Seoul offices, follows close on the heels of CeBIT Australia, when the Korean ICT minister and his entourage surrounded (engulfed?) MTG’s tiny AIIA Showcase stand to see the “SquizBiz” product in action.
SquizBiz combines software in a hardware attachment that turns a standard video camera into a wireless videostreaming appliance for use with any wireless-enabled PC.
Given that the asking price for a unit is around $2000, and Korea has a well known love affair with mobile and fixed line internet, the payback should be “significant”, says MTG managing director Adele Whish-Wilson.
Momentum is one of 19 companies awarded a Telstra Broadband Fund Grant in February, and the company leveraged international Austrade assistance to make contact with several interested parties in Korea.
Unlike other startups challenged by the cost of presenting their wares in overseas markets, SquizBiz was able to direct potential Korean partners to a web page where they could transmit untethered video live as they walked around their office and into Chapel Street, Prahan, within about 100 metres range from the PC.
INCR is a marketing and technology company with products such as personal digital assistants and large portal websites. Taking on the SquizBiz product is part of its strategy to “become the leading IT company in Korea” says INCR CEO Young Tae Chung.Whish-Wilson said the relationship between Korea and Australia is currently a focal point, with the Australia-Korea Broadband Summit held on the Gold Coast earlier this month.
“Korea will be a strong market for us, and we’re looking forward to following this agreement with more distribution deals in other Asian countries, and hopefully Europe and North America too,” she said.
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