1 00:00:00.200 --> 00:00:01.250 Welcome 2 00:00:01.950 --> 00:00:06.050 Today, we are excited to welcome a CEO of a 3 00:00:06.300 --> 00:00:09.650 rising star company in the robotics area in Korea 4 00:00:10.000 --> 00:00:12.500 His name is CEO Choi Jae-won 5 00:00:13.000 --> 00:00:16.050 CEO Choi Jae-won is the founder of Helper Robotics, 6 00:00:16.800 --> 00:00:20.350 a company specializing in the development of service robotics 7 00:00:21.000 --> 00:00:25.850 The company currently provides automated robotics solutions 8 00:00:26.200 --> 00:00:28.300 for the food and beverage industry 9 00:00:29.250 --> 00:00:32.750 The company is currently valued at $10 million 10 00:00:33.000 --> 00:00:36.000 and has entered the Series A stage 11 00:00:36.800 --> 00:00:40.200 Also, beyond the F&B market, 12 00:00:40.750 --> 00:00:45.400 the company is expanding its automation solutions into logistics, 13 00:00:45.800 --> 00:00:49.300 agriculture, and construction sites 14 00:00:50.500 --> 00:00:53.950 We will now have an in-depth conversation with CEO Choi Jae-won 15 00:00:54.400 --> 00:00:58.250 about value proposition and product market fit 16 00:00:59.000 --> 00:01:02.000 Now, the discussion will be in Korean, 17 00:01:02.650 --> 00:01:04.950 but English subtitles will be provided 18 00:01:05.100 --> 00:01:06.800 Are you ready? Let's begin 19 00:01:07.900 --> 00:01:12.900 Hello, CEO Choi. Thank you for joining us despite your busy schedule 20 00:01:13.750 --> 00:01:15.950 Please briefly introduce yourself 21 00:01:16.050 --> 00:01:19.250 Hello, I am CEO Choi Jae-won of Helper Robotics 22 00:01:19.500 --> 00:01:24.050 What kind of company is Helper Robotics? 23 00:01:24.400 --> 00:01:30.450 Helper Robotics is a robot solution company that automates F&B 24 00:01:30.800 --> 00:01:33.450 Currently, we are developing a store automation control system 25 00:01:33.600 --> 00:01:37.200 related to service robots and cooking robots 26 00:01:37.750 --> 00:01:41.250 Are you developing everything at once? Or are you doing it in order? 27 00:01:41.500 --> 00:01:44.000 We are a company that started with service robots 28 00:01:44.150 --> 00:01:46.250 Based on service robots, 29 00:01:46.450 --> 00:01:49.900 we have developed a control system 30 00:01:49.900 --> 00:01:53.450 that can operate a cooking robot and a store 31 00:01:55.600 --> 00:01:59.300 Then, who is the 32 00:02:00.000 --> 00:02:04.500 main customer of Helper Robotics? 33 00:02:05.000 --> 00:02:08.600 Currently, the market is dominated by those 34 00:02:08.600 --> 00:02:11.350 who do outdoor business 35 00:02:11.350 --> 00:02:16.600 and food court department stores 36 00:02:18.700 --> 00:02:22.950 Additionally, we are developing automation robot solutions 37 00:02:23.050 --> 00:02:28.100 related to agriculture, logistics, and construction 38 00:02:28.900 --> 00:02:34.300 I can see that the robot automation system of the store 39 00:02:34.900 --> 00:02:38.800 doesn't seem right to the viewers 40 00:02:39.300 --> 00:02:41.550 We would like to see the video 41 00:02:41.550 --> 00:02:44.100 Could you briefly explain what it is? 42 00:02:45.000 --> 00:02:49.300 Restaurant business is similar to singing 43 00:02:49.950 --> 00:02:52.150 In the case of singers, 44 00:02:52.300 --> 00:02:56.800 they have to be good at singing, marketing, 45 00:02:57.550 --> 00:03:01.900 design, and many other things 46 00:03:02.100 --> 00:03:06.100 In fact, most of the people who do the restaurant business 47 00:03:06.200 --> 00:03:08.800 for the first time are beginners 48 00:03:09.600 --> 00:03:11.950 However, it is not easy for them 49 00:03:12.200 --> 00:03:15.400 to master all these various skills at once 50 00:03:15.700 --> 00:03:18.200 It would be easier to understand 51 00:03:18.400 --> 00:03:22.550 if you think that we are a company that has developed robot solutions 52 00:03:22.700 --> 00:03:24.750 that can set up each skill 53 00:03:25.750 --> 00:03:27.750 Then, let's be more specific 54 00:03:27.750 --> 00:03:30.300 We call it a value proposal 55 00:03:31.000 --> 00:03:33.950 When we make a value proposition, 56 00:03:34.150 --> 00:03:38.400 we usually do what the customers are doing now 57 00:03:39.000 --> 00:03:42.200 Next, we solve the pain point 58 00:03:42.600 --> 00:03:46.100 that the customers are currently experiencing 59 00:03:46.400 --> 00:03:51.150 Third, it is good to have a new gain 60 00:03:51.650 --> 00:03:58.400 Could you tell us what the main product of Help Robotics is offering? 61 00:03:58.650 --> 00:04:04.200 Could you tell us about the job, pain, and gain? 62 00:04:04.450 --> 00:04:10.000 Currently, 90% of the customers who use our robot are restaurant business 63 00:04:10.800 --> 00:04:13.600 In the case of the restaurant business 64 00:04:14.450 --> 00:04:16.700 they have to know how to set up staff, 65 00:04:16.900 --> 00:04:20.450 how to serve customers, and how to manage the kitchen 66 00:04:20.750 --> 00:04:24.800 In other words, it is a market 67 00:04:25.000 --> 00:04:30.500 where the sales of the store depend on 68 00:04:30.750 --> 00:04:35.200 the know-how and operating experience 69 00:04:35.550 --> 00:04:40.450 Therefore, although everyone starts the restaurant business easily at first, 70 00:04:40.600 --> 00:04:45.276 the actual success rate is only about 1% to 2% 71 00:04:45.376 --> 00:04:47.076 This market is not easy 72 00:04:47.300 --> 00:04:50.950 The robot solutions we have now, 73 00:04:51.150 --> 00:04:55.900 even if the store owner does not have experience or know-how, 74 00:04:56.000 --> 00:05:00.650 if he or she basically operates with our robot solution, 75 00:05:01.000 --> 00:05:06.850 we have built a solution that can guarantee the labor cost of one store owner 76 00:05:07.000 --> 00:05:10.500 So, the main products that are being sold now are 77 00:05:10.500 --> 00:05:13.100 serving robots and cooking robots 78 00:05:13.150 --> 00:05:14.450 Among the cooking robots, 79 00:05:14.500 --> 00:05:18.350 there are also frying robots and automated roasting robots 80 00:05:19.700 --> 00:05:23.850 There are many other companies related to serving robots 81 00:05:24.050 --> 00:05:26.650 What is the difference? 82 00:05:27.000 --> 00:05:32.300 Our target was to automatically operate a store for one store owner 83 00:05:33.600 --> 00:05:38.750 Therefore, our robot has its own path 84 00:05:40.000 --> 00:05:43.000 So, in order to be able to cover the peak time, 85 00:05:43.500 --> 00:05:47.650 our robot has been miniaturized based on a logistics robot 86 00:05:47.650 --> 00:05:50.700 Like a miniaturized logistics robot in a smart factory 87 00:05:51.000 --> 00:05:54.900 One of the characteristics of our serving robot is 88 00:05:55.350 --> 00:05:59.550 the maximum operating efficiency 89 00:06:00.750 --> 00:06:02.550 However, 90 00:06:02.600 --> 00:06:06.650 compared to the existing self-driving robot, 91 00:06:07.000 --> 00:06:09.550 our serving robot covers about 92 00:06:09.550 --> 00:06:14.750 50% to 60% of the operating efficiency 93 00:06:15.550 --> 00:06:18.000 So, compared to other serving robots, 94 00:06:18.000 --> 00:06:21.850 is the cost of using our product cheaper? 95 00:06:22.150 --> 00:06:26.750 The cost is about one-third of the existing robot 96 00:06:27.100 --> 00:06:29.950 Does that mean more benefits for the store owners? 97 00:06:30.100 --> 00:06:33.000 Yes. In that case, the actual rental price of our robot 98 00:06:33.300 --> 00:06:37.000 or the selling price of the robot is cheaper than the existing robot 99 00:06:37.200 --> 00:06:40.650 So, compared to the labor cost, it's about one-tenth of the labor cost 100 00:06:40.950 --> 00:06:42.450 So, it's about one-tenth of the labor cost? 101 00:06:42.450 --> 00:06:44.700 Yes. That's how much we make with the robot 102 00:06:45.050 --> 00:06:49.550 Do you feel any pressure or rejection 103 00:06:49.550 --> 00:06:51.900 from the general customers? 104 00:06:52.150 --> 00:06:54.000 Of course, at first 105 00:06:54.200 --> 00:06:56.600 Because this robot solution is a 106 00:06:56.750 --> 00:07:00.050 new solution for the customers, 107 00:07:00.250 --> 00:07:04.000 we have to work on the interior as well 108 00:07:04.200 --> 00:07:08.000 So, at first, we felt a little bit of rejection, 109 00:07:08.250 --> 00:07:12.150 but we managed the store in a way to solve that rejection 110 00:07:12.250 --> 00:07:14.000 Oh, you managed the store yourself? 111 00:07:14.250 --> 00:07:17.000 Yes. So, we proved how effective this solution is 112 00:07:17.000 --> 00:07:20.750 through the store we run ourselves, 113 00:07:21.000 --> 00:07:22.850 and we presented it to them 114 00:07:23.000 --> 00:07:25.650 So, by looking at our robot solution, 115 00:07:26.000 --> 00:07:29.000 and introducing the robot to our store, 116 00:07:29.000 --> 00:07:32.600 we found that this robot solution is more efficient 117 00:07:32.600 --> 00:07:35.000 compared to other robots with the same labor cost 118 00:07:35.350 --> 00:07:38.750 So, we are running it in about six stores now 119 00:07:39.050 --> 00:07:43.000 So, instead of explaining that it will be helpful 120 00:07:43.000 --> 00:07:44.700 if you use our product, 121 00:07:45.000 --> 00:07:47.100 you should just set up a store yourself 122 00:07:47.100 --> 00:07:50.650 and see how effective it is 123 00:07:50.650 --> 00:07:52.500 and feel it 124 00:07:53.000 --> 00:07:56.750 Then, do you invite potential customers and show them? 125 00:07:56.900 --> 00:07:57.900 Yes, that's right 126 00:07:58.000 --> 00:08:00.000 If you are interested, 127 00:08:00.000 --> 00:08:01.950 you can come to our store and see for yourself 128 00:08:02.100 --> 00:08:04.550 And the store we run 129 00:08:04.850 --> 00:08:08.700 is used as a marketing or promotional video 130 00:08:09.000 --> 00:08:12.000 So, if you contact us through the exposure, 131 00:08:12.000 --> 00:08:15.800 you can call us and make a purchase 132 00:08:16.250 --> 00:08:18.900 Then, the service is good, 133 00:08:19.050 --> 00:08:20.700 and there is no problem with serving, 134 00:08:21.750 --> 00:08:24.000 and the labor cost is high, 135 00:08:24.000 --> 00:08:27.200 but it's a painful pain point, but you can get rid of it 136 00:08:27.600 --> 00:08:30.800 Then, you can get more profit 137 00:08:30.800 --> 00:08:31.800 Yes, that's right 138 00:08:32.000 --> 00:08:33.550 Other than that, 139 00:08:33.900 --> 00:08:36.900 is there any benefit for those who run the store? 140 00:08:37.750 --> 00:08:40.000 Yes, first of all, we automated the hall 141 00:08:40.000 --> 00:08:41.700 through the serving robot 142 00:08:42.100 --> 00:08:45.000 And in addition, we made cooking robots 143 00:08:45.000 --> 00:08:47.650 to automate the kitchen 144 00:08:48.000 --> 00:08:50.000 Then, if you automate the hall first, 145 00:08:50.000 --> 00:08:52.200 you can connect it and automate the kitchen 146 00:08:52.400 --> 00:08:54.400 Yes, you can automate the kitchen 147 00:08:54.500 --> 00:08:57.000 So, we made the structure to increase the pure profit 148 00:08:57.300 --> 00:09:00.000 Then, you're reducing the labor cost by one-tenth now, 149 00:09:00.000 --> 00:09:04.400 but the labor cost is only for serving the hall, 150 00:09:05.000 --> 00:09:07.000 so if you automate the kitchen, 151 00:09:07.000 --> 00:09:09.000 the cost will be reduced 152 00:09:09.150 --> 00:09:11.000 Yes, the cost will be reduced 153 00:09:11.150 --> 00:09:12.000 I see 154 00:09:12.350 --> 00:09:14.050 But if we look at it, 155 00:09:14.350 --> 00:09:16.000 reducing the cost is important, 156 00:09:16.200 --> 00:09:18.200 but increasing the brand outside is also important 157 00:09:18.200 --> 00:09:19.000 Yes 158 00:09:19.100 --> 00:09:20.100 The restaurant 159 00:09:20.850 --> 00:09:22.350 But if we use the helper robotics, 160 00:09:22.650 --> 00:09:24.300 or the automated robot, 161 00:09:24.350 --> 00:09:27.100 will it help to increase the brand? 162 00:09:27.300 --> 00:09:29.600 Yes, we are actively using that part 163 00:09:29.600 --> 00:09:33.000 as one of our goals for this year 164 00:09:33.300 --> 00:09:36.750 So, it's not just a function of serving robots, 165 00:09:37.200 --> 00:09:41.000 but when there is a commemoration or an event, 166 00:09:41.000 --> 00:09:43.400 the robot can make comments 167 00:09:43.650 --> 00:09:47.950 or do things that the existing customers can't experience 168 00:09:48.000 --> 00:09:51.100 For example, if it's a birthday, 169 00:09:51.150 --> 00:09:54.600 the robot can make a motion to celebrate the birthday, 170 00:09:54.600 --> 00:09:56.200 and the voice of the robot, 171 00:09:56.400 --> 00:10:00.000 and related services are made through the robot, 172 00:10:00.250 --> 00:10:02.000 and that becomes a content, 173 00:10:02.000 --> 00:10:05.000 so we are making it as a marketing point 174 00:10:05.000 --> 00:10:07.000 that the existing customers can't access 175 00:10:07.200 --> 00:10:10.800 Then, what about the general customers 176 00:10:10.800 --> 00:10:13.350 who use the restaurant? 177 00:10:13.550 --> 00:10:15.150 Do they like it? 178 00:10:15.300 --> 00:10:18.150 Or are there more young customers? 179 00:10:18.750 --> 00:10:22.850 In fact, we have a room pub for this event 180 00:10:23.000 --> 00:10:26.000 In the room pub, 181 00:10:26.000 --> 00:10:29.000 there are usually group customers 182 00:10:29.250 --> 00:10:34.000 So, the robot of the group customer enters, 183 00:10:34.450 --> 00:10:36.200 and in the case of the room, 184 00:10:36.250 --> 00:10:39.000 the server of the general customer can't enter 185 00:10:39.000 --> 00:10:41.000 So, in the room space, 186 00:10:41.450 --> 00:10:44.000 they can experience their own new values 187 00:10:44.000 --> 00:10:47.750 that they couldn't feel before 188 00:10:48.650 --> 00:10:51.000 And in a way, 189 00:10:51.000 --> 00:10:53.150 they don't get disturbed when they talk 190 00:10:53.150 --> 00:10:55.200 or talk about important things, 191 00:10:55.500 --> 00:10:57.350 so the satisfaction of the customer 192 00:10:57.350 --> 00:10:59.000 for the room is higher, 193 00:10:59.150 --> 00:11:01.250 which is represented by our robot 194 00:11:01.300 --> 00:11:03.800 Then, you made the serving robot like that, 195 00:11:04.150 --> 00:11:06.700 and when you automate the robot serving, 196 00:11:07.000 --> 00:11:09.000 the general table in the restaurant 197 00:11:09.000 --> 00:11:11.000 turns into a private room 198 00:11:11.150 --> 00:11:12.150 Yes, that's right 199 00:11:12.200 --> 00:11:14.000 And no one enters there, 200 00:11:14.000 --> 00:11:17.250 and they can have a private conversation, 201 00:11:17.450 --> 00:11:19.950 and it turns into a quiet space 202 00:11:20.000 --> 00:11:24.000 I think this is a value that other companies 203 00:11:24.000 --> 00:11:26.450 can't provide 204 00:11:28.250 --> 00:11:32.000 In a way, it's impossible 205 00:11:32.000 --> 00:11:34.000 In the first place, 206 00:11:34.000 --> 00:11:38.000 there are a lot of robots 207 00:11:38.050 --> 00:11:40.000 So, it's a robot company 208 00:11:40.000 --> 00:11:42.000 specialized in multi-control algorithms 209 00:11:42.000 --> 00:11:43.800 and multi-control control systems 210 00:11:43.950 --> 00:11:47.000 So, compared to other robots, 211 00:11:47.200 --> 00:11:49.000 it can be much cheaper 212 00:11:49.000 --> 00:11:51.000 in terms of efficiency and price 213 00:11:51.400 --> 00:11:54.000 And the robot in this room 214 00:11:54.000 --> 00:11:56.000 is called dead space, 215 00:11:56.000 --> 00:11:58.000 so it uses the dead space appropriately 216 00:11:58.200 --> 00:12:01.000 So, other robots can't use the dead space, 217 00:12:01.000 --> 00:12:03.000 but our robots can, 218 00:12:03.100 --> 00:12:07.650 and that's our difference 219 00:12:08.200 --> 00:12:11.200 So, how long has it been since you launched it, 220 00:12:11.200 --> 00:12:15.000 and do you think the product market fit has been achieved? 221 00:12:15.650 --> 00:12:18.950 We haven't officially launched it yet 222 00:12:19.100 --> 00:12:22.450 We will officially launch it in October this year 223 00:12:22.550 --> 00:12:24.550 So, is it a beta test so far? 224 00:12:24.550 --> 00:12:26.000 Yes, it's a beta test, 225 00:12:26.000 --> 00:12:29.000 but you can think of it as the middle stage 226 00:12:29.000 --> 00:12:31.000 of commercialization 227 00:12:31.300 --> 00:12:33.000 As you said, 228 00:12:33.000 --> 00:12:35.750 it's an element of the product market fit 229 00:12:35.750 --> 00:12:39.450 that we've proven 230 00:12:40.250 --> 00:12:45.000 So, you launched the store to prove PMF, 231 00:12:45.000 --> 00:12:47.700 and you're in the middle of the beta test 232 00:12:47.700 --> 00:12:49.700 and the official launch 233 00:12:50.000 --> 00:12:52.000 Yes, we have six stores there 234 00:12:52.000 --> 00:12:55.000 So, you're running six stores as a beta test 235 00:12:56.550 --> 00:12:57.900 In the meantime, 236 00:12:57.900 --> 00:13:03.900 the value of the company is about 10 billion won 237 00:13:04.000 --> 00:13:06.700 So, if it's officially launched, 238 00:13:07.000 --> 00:13:09.000 will the value increase a lot? 239 00:13:09.450 --> 00:13:13.050 Right now, it's 1.35 billion won, 240 00:13:13.300 --> 00:13:17.300 and we're about to open the Series A round 241 00:13:17.500 --> 00:13:19.250 So, in the Series A round, 242 00:13:19.300 --> 00:13:22.000 the value is 2 billion won, 243 00:13:22.000 --> 00:13:24.200 and the funding is about 5 billion won, 244 00:13:24.200 --> 00:13:27.200 so it's about 2.5 billion won 245 00:13:27.450 --> 00:13:30.000 So, it's October when we officially launch it, 246 00:13:30.000 --> 00:13:33.650 and we're launching it with a large company 247 00:13:34.000 --> 00:13:37.000 So, the reliability of the brand 248 00:13:37.000 --> 00:13:39.000 that a startup can't have 249 00:13:39.000 --> 00:13:41.900 is covered by the brand name of a large company 250 00:13:42.100 --> 00:13:45.000 And the performance and closeness to customers 251 00:13:45.000 --> 00:13:47.000 that only startups can have 252 00:13:47.000 --> 00:13:49.000 is based on the strengths of a startup, 253 00:13:49.150 --> 00:13:52.000 and we're trying to build a new market 254 00:13:52.000 --> 00:13:54.700 that's differentiated and focused 255 00:13:55.000 --> 00:13:57.000 Now that I've heard about it, 256 00:13:57.350 --> 00:14:00.550 I think you have a very promising future 257 00:14:00.550 --> 00:14:02.100 I think you have a bright future 258 00:14:02.600 --> 00:14:03.600 Thank you 259 00:14:03.800 --> 00:14:06.450 So, if you receive the value of 2.5 billion won 260 00:14:06.700 --> 00:14:08.900 and officially launch it in October, 261 00:14:09.000 --> 00:14:12.000 it will be sold in many stores in Korea 262 00:14:12.000 --> 00:14:13.750 Do you have any plans to go abroad? 263 00:14:14.000 --> 00:14:18.000 We actually have an export record 264 00:14:18.000 --> 00:14:20.650 We're exporting to LA 265 00:14:21.000 --> 00:14:22.850 Not only Korea, 266 00:14:23.000 --> 00:14:28.000 but also the U.S., Singapore, Taiwan, and Hong Kong 267 00:14:28.000 --> 00:14:30.800 have high demand for our robots 268 00:14:31.100 --> 00:14:34.000 So, in the case of overseas markets, 269 00:14:34.000 --> 00:14:38.300 we're going to start in the second half of next year 270 00:14:38.500 --> 00:14:39.900 To do that, 271 00:14:39.900 --> 00:14:41.800 we're opening the investment round this time 272 00:14:42.200 --> 00:14:44.000 Then, in order to know 273 00:14:44.150 --> 00:14:49.000 whether the product market fit has been achieved or not, 274 00:14:49.000 --> 00:14:52.000 you usually collect and analyze 275 00:14:52.000 --> 00:14:55.350 a lot of quantitative and emotional data, right? 276 00:14:55.400 --> 00:14:56.250 Yes 277 00:14:56.550 --> 00:15:00.000 Can you tell us how the company is doing now? 278 00:15:00.000 --> 00:15:02.000 The characteristics of our robots 279 00:15:02.000 --> 00:15:05.000 are a little different from the general products 280 00:15:05.000 --> 00:15:07.000 that fit the existing B2C 281 00:15:07.000 --> 00:15:10.000 So, since we are a solution product 282 00:15:10.000 --> 00:15:12.000 between B2C and B2B, 283 00:15:12.200 --> 00:15:15.200 rather than the existing marketing 284 00:15:15.200 --> 00:15:18.350 and the number of views or CPR, 285 00:15:18.650 --> 00:15:23.000 we have a lot more content that comes out through interviews 286 00:15:23.500 --> 00:15:28.700 One of the shareholders of our company is CEO of T-Order 287 00:15:29.100 --> 00:15:30.950 Through CEO of T-Order 288 00:15:31.050 --> 00:15:34.550 we are always introduced to franchise representatives 289 00:15:34.750 --> 00:15:38.000 So, we have an interview with franchise representatives, 290 00:15:38.050 --> 00:15:42.500 and then they see our robots in our store, 291 00:15:42.850 --> 00:15:47.000 and they tell us about the parts that can be customized 292 00:15:47.000 --> 00:15:51.000 in the store that the franchise representatives have 293 00:15:51.000 --> 00:15:55.950 As a result, the product market fit naturally fits 294 00:15:56.300 --> 00:16:00.150 So, that's how we're doing PMF 295 00:16:00.450 --> 00:16:04.350 So, even if you don't do a lot of marketing outside, 296 00:16:04.800 --> 00:16:08.800 it's naturally going viral with word of mouth 297 00:16:09.000 --> 00:16:10.300 Yes, people are coming 298 00:16:10.550 --> 00:16:15.000 When did you feel that this was coming a lot? 299 00:16:15.750 --> 00:16:20.500 We opened a hamburger store in 2022 300 00:16:20.950 --> 00:16:24.450 Since then, after COVID-19, 301 00:16:24.450 --> 00:16:29.950 from 2024, the demand for automated robots has increased tremendously 302 00:16:30.000 --> 00:16:34.500 As a result, franchise representatives who have experienced COVID-19 303 00:16:34.850 --> 00:16:39.300 have more needs for automated elements 304 00:16:39.400 --> 00:16:44.000 than the existing labor-intensive human resources-based franchises 305 00:16:44.150 --> 00:16:49.000 As a result, a lot of them naturally came to our robot company 306 00:16:49.200 --> 00:16:54.000 So, in a way, the market has been learned through COVID-19 307 00:16:54.000 --> 00:16:57.000 So, you came to us on purpose 308 00:16:57.000 --> 00:16:58.000 Yes, that's right 309 00:16:58.250 --> 00:17:01.000 But instead, there's T-Order in the middle, 310 00:17:01.000 --> 00:17:04.700 and it's spread through T-Order 311 00:17:05.250 --> 00:17:09.750 So, after that, the product market fit 312 00:17:09.750 --> 00:17:13.950 suddenly popped up at some point 313 00:17:14.000 --> 00:17:15.000 Yes, that's right 314 00:17:15.300 --> 00:17:17.200 How long did it take? 315 00:17:17.250 --> 00:17:19.000 So, it took about three years 316 00:17:19.000 --> 00:17:22.000 Yes, that's right. It took about three years 317 00:17:22.000 --> 00:17:24.000 So, if there wasn't such an event as COVID-19, 318 00:17:24.000 --> 00:17:26.000 could it have lasted longer? 319 00:17:26.000 --> 00:17:29.450 Actually, we developed this serving robot 320 00:17:29.500 --> 00:17:34.000 and expected it to be mass-produced for about seven years 321 00:17:34.350 --> 00:17:36.000 So, the mass-production was until the product market fit? 322 00:17:36.050 --> 00:17:38.700 Yes, we verified the product market fit 323 00:17:39.000 --> 00:17:44.000 and waited for seven years until our consumers could see the robot 324 00:17:44.150 --> 00:17:45.150 Seven years 325 00:17:45.250 --> 00:17:48.000 But with the COVID-19 event, 326 00:17:48.000 --> 00:17:50.700 the seven years were shortened to two years, 327 00:17:50.700 --> 00:17:52.350 I mean, five years 328 00:17:52.450 --> 00:17:54.000 Oh, five years were shortened? 329 00:17:54.000 --> 00:17:56.000 Yes, I think it was shortened to five years 330 00:17:56.000 --> 00:17:58.000 So, to sum up, 331 00:17:58.000 --> 00:18:00.000 you said you were going to launch it in October 332 00:18:00.000 --> 00:18:01.000 Yes 333 00:18:01.000 --> 00:18:04.000 So, it took about three years 334 00:18:04.000 --> 00:18:06.600 to reach the product market fit after the launch 335 00:18:06.800 --> 00:18:07.550 Yes 336 00:18:07.800 --> 00:18:10.700 After that, you can launch it after about a year 337 00:18:11.000 --> 00:18:12.000 Yes 338 00:18:12.150 --> 00:18:14.950 If there wasn't COVID-19, it would have been a long time later 339 00:18:15.000 --> 00:18:15.850 Yes 340 00:18:16.000 --> 00:18:18.750 So, you were expecting a few more years 341 00:18:18.800 --> 00:18:20.850 to reach the product market fit 342 00:18:21.150 --> 00:18:21.750 Yes 343 00:18:22.000 --> 00:18:24.000 One of the reasons is that 344 00:18:24.000 --> 00:18:28.000 robots are products based on customer experience 345 00:18:28.000 --> 00:18:28.700 Yes 346 00:18:28.900 --> 00:18:29.900 For example, 347 00:18:30.000 --> 00:18:32.000 Kiosk can be an example 348 00:18:32.600 --> 00:18:33.850 It took about 20 years 349 00:18:33.900 --> 00:18:35.900 for Kiosk to be developed 350 00:18:36.000 --> 00:18:37.650 and applied to the market 351 00:18:38.000 --> 00:18:39.000 Kiosk 352 00:18:39.000 --> 00:18:39.950 Yes 353 00:18:39.950 --> 00:18:41.950 And once Kiosk 354 00:18:42.000 --> 00:18:45.000 created customer experience for the consumer, 355 00:18:45.000 --> 00:18:47.850 and from the moment it became convenient, 356 00:18:48.000 --> 00:18:50.000 I experienced Jacob 357 00:18:50.000 --> 00:18:52.000 I saw our serving robot with him 358 00:18:52.350 --> 00:18:54.000 So, once the customer experience 359 00:18:54.000 --> 00:18:56.000 and the data are secured, 360 00:18:56.000 --> 00:18:59.000 and the secured data becomes convenient, 361 00:18:59.000 --> 00:19:02.000 the serving robot can create Jacob 362 00:19:02.000 --> 00:19:03.550 That's what we saw 363 00:19:04.000 --> 00:19:06.900 Then, if you had planned for 7 years, 364 00:19:07.000 --> 00:19:09.000 what would have been the way 365 00:19:09.000 --> 00:19:11.000 for the company to survive? 366 00:19:11.200 --> 00:19:12.150 Yes 367 00:19:12.150 --> 00:19:14.650 Since we are a robot company, 368 00:19:14.750 --> 00:19:16.000 Korea has three main areas such as support business, 369 00:19:16.000 --> 00:19:18.000 such as support business, 370 00:19:18.000 --> 00:19:20.700 loan, and investment 371 00:19:20.950 --> 00:19:22.950 These three areas 372 00:19:23.000 --> 00:19:25.000 allow us to operate 373 00:19:25.000 --> 00:19:26.800 without any sales 374 00:19:27.050 --> 00:19:29.000 In order for these areas 375 00:19:29.000 --> 00:19:31.000 to be operated in order, 376 00:19:31.300 --> 00:19:35.050 Actually there is no 100% 377 00:19:35.050 --> 00:19:36.800 There is always a variable 378 00:19:37.000 --> 00:19:40.000 So, in order to eliminate that variable, 379 00:19:40.000 --> 00:19:42.000 we did F&B ourselves 380 00:19:42.250 --> 00:19:45.050 So, it's not just for demonstration, 381 00:19:45.050 --> 00:19:47.000 but also for verification 382 00:19:47.000 --> 00:19:49.000 You did it to cover our sales 383 00:19:49.000 --> 00:19:50.000 Yes, that's right 384 00:19:50.000 --> 00:19:52.000 So, you did it practically 385 00:19:52.000 --> 00:19:53.000 Yes, practically 386 00:19:53.000 --> 00:19:53.950 By necessity 387 00:19:53.950 --> 00:19:54.950 Yes 388 00:19:55.850 --> 00:19:58.800 Then actually in startups, 389 00:19:58.900 --> 00:20:01.100 I think it's good 390 00:20:01.100 --> 00:20:03.550 to go out and make money practically 391 00:20:04.200 --> 00:20:05.100 Yes 392 00:20:05.200 --> 00:20:07.000 Was it reflected in the investment? 393 00:20:07.200 --> 00:20:10.400 Yes. Compared to other robot companies, 394 00:20:10.400 --> 00:20:14.050 in a way, we have a short period of time 395 00:20:14.300 --> 00:20:15.000 Yes 396 00:20:15.200 --> 00:20:17.550 Since we established the company in 2021, 397 00:20:17.550 --> 00:20:19.850 it was later than other robot companies, 398 00:20:19.850 --> 00:20:22.750 but in terms of the market to prove it, 399 00:20:23.000 --> 00:20:25.000 we had the same production as them, 400 00:20:25.400 --> 00:20:27.300 so we were recognized 401 00:20:27.300 --> 00:20:29.700 as a company with fast execution within the robot company 402 00:20:30.000 --> 00:20:31.500 I think that recognition 403 00:20:31.500 --> 00:20:33.250 led to a lot of investment 404 00:20:33.700 --> 00:20:35.150 Oh, that's amazing 405 00:20:36.000 --> 00:20:38.050 So, operating the store 406 00:20:38.050 --> 00:20:40.000 in reality now, 407 00:20:40.900 --> 00:20:43.950 in terms of cost, does it actually help? 408 00:20:44.200 --> 00:20:45.050 Yes 409 00:20:45.100 --> 00:20:48.500 In fact, since we do the store ourselves, 410 00:20:48.700 --> 00:20:50.550 in order to revive the store, 411 00:20:50.550 --> 00:20:52.550 we have upgraded the robots more 412 00:20:53.100 --> 00:20:55.400 As we upgraded the robots more, 413 00:20:55.550 --> 00:20:57.000 in terms of actual customers, 414 00:20:57.000 --> 00:20:59.000 the need for robots increased, 415 00:20:59.000 --> 00:21:01.400 and the sales increased, 416 00:21:01.700 --> 00:21:04.200 so we were able to cover some of the sales 417 00:21:04.200 --> 00:21:06.300 and profits that the robot company 418 00:21:06.300 --> 00:21:08.550 that the robot company couldn't have in the beginning 419 00:21:09.100 --> 00:21:12.700 Then, you can wait for a long time 420 00:21:12.700 --> 00:21:13.200 Yes 421 00:21:13.750 --> 00:21:14.750 Luckily, 422 00:21:14.750 --> 00:21:17.750 you were able to expand your business 423 00:21:18.450 --> 00:21:20.000 Yes, that's right 424 00:21:20.800 --> 00:21:21.650 That's amazing 425 00:21:21.850 --> 00:21:25.200 So, the serving robot is the main product 426 00:21:25.200 --> 00:21:28.000 but you also said that you are preparing a cooking robot 427 00:21:28.000 --> 00:21:28.850 Yes 428 00:21:28.850 --> 00:21:31.200 What is the difference between a cooking robot and a serving robot? 429 00:21:31.800 --> 00:21:34.050 In the case of a cooking robot, 430 00:21:34.650 --> 00:21:37.650 it is one of the most difficult jobs 431 00:21:37.850 --> 00:21:41.850 to hire people in the kitchen in Korea 432 00:21:42.100 --> 00:21:42.800 Oh, really? 433 00:21:42.850 --> 00:21:43.600 Yes, 434 00:21:43.700 --> 00:21:46.500 because it is located in a very hot place 435 00:21:46.700 --> 00:21:48.700 and the labor intensity is high 436 00:21:49.000 --> 00:21:50.950 So, it is one of the jobs 437 00:21:50.950 --> 00:21:52.549 that people don't prefer 438 00:21:52.549 --> 00:21:54.350 because of the labor cost 439 00:21:54.450 --> 00:21:58.100 So, the reason why we created a cooking robot 440 00:21:58.100 --> 00:22:01.750 is because we wanted to collect the actual data 441 00:22:01.800 --> 00:22:04.550 of the cooking robot, the serving robot, 442 00:22:04.550 --> 00:22:07.000 and the restaurant by ourselves 443 00:22:07.000 --> 00:22:07.700 Yes 444 00:22:08.150 --> 00:22:10.900 So, in terms of labor cost and customers, 445 00:22:11.100 --> 00:22:14.200 we were able to solve the difficulties in the kitchen 446 00:22:14.200 --> 00:22:15.600 with our kitchen robot 447 00:22:16.000 --> 00:22:17.350 In terms of our company, 448 00:22:17.350 --> 00:22:18.950 we were able to get the actual data 449 00:22:19.000 --> 00:22:21.750 of the restaurant from the kitchen to the hall 450 00:22:22.000 --> 00:22:23.800 as a whole, so we expanded 451 00:22:24.000 --> 00:22:26.900 the cooking robot as well 452 00:22:27.200 --> 00:22:30.350 So, does the cooking robot actually make food? 453 00:22:30.700 --> 00:22:32.950 For example, we have a frying robot 454 00:22:33.000 --> 00:22:36.150 and a skewer automated robot 455 00:22:36.350 --> 00:22:37.600 The frying robot is the part 456 00:22:37.800 --> 00:22:40.700 where people get hurt the most 457 00:22:40.700 --> 00:22:42.000 and shake the food 458 00:22:42.550 --> 00:22:43.800 The robot shakes the food 459 00:22:43.800 --> 00:22:46.600 and always overcooks the food at the end 460 00:22:46.750 --> 00:22:50.000 so the food loses its flavor and becomes eddy 461 00:22:50.200 --> 00:22:53.150 The robot automates that part 462 00:22:53.150 --> 00:22:54.700 to put it simply 463 00:22:56.350 --> 00:22:58.450 Also, the skewer robot is the part 464 00:22:58.450 --> 00:23:00.450 where people have to cook in front of the fire 465 00:23:00.500 --> 00:23:02.500 at 500 degrees or 500 degrees in the forest 466 00:23:02.700 --> 00:23:03.950 It's the skewer robot 467 00:23:03.950 --> 00:23:05.550 that can solve the problem 468 00:23:05.600 --> 00:23:06.850 of having to cook in front of the fire 469 00:23:06.900 --> 00:23:07.900 at 500 or 700 degrees 470 00:23:07.900 --> 00:23:10.150 I think that's the skewer robot's role 471 00:23:10.750 --> 00:23:13.850 If the food is not fried or skewered, 472 00:23:14.050 --> 00:23:17.550 is it difficult to use it? 473 00:23:18.700 --> 00:23:20.150 For the skewer robot, 474 00:23:20.250 --> 00:23:22.350 we are developing a skewer robot 475 00:23:22.350 --> 00:23:24.650 that can only be used if the module is changed to a grilling robot 476 00:23:25.000 --> 00:23:26.600 Can all the menus be applied? 477 00:23:27.100 --> 00:23:29.650 About 70% of the entire menu can be covered 478 00:23:29.900 --> 00:23:30.900 70%? 479 00:23:31.150 --> 00:23:32.150 Yes, it can be covered 480 00:23:32.500 --> 00:23:34.550 Especially, if you have to cook in front of the fire 481 00:23:34.800 --> 00:23:36.200 if you have to grill in front of the fire, 482 00:23:36.200 --> 00:23:37.650 70% of the menus can be covered 483 00:23:37.850 --> 00:23:40.050 Also, about 80% of the menus 484 00:23:40.150 --> 00:23:42.600 can be fried through the skewer robot 485 00:23:43.400 --> 00:23:45.600 Then, do you also install the skewer robot 486 00:23:45.850 --> 00:23:48.600 in the store you are running and run it? 487 00:23:49.000 --> 00:23:50.900 Yes, we have about 10 stores 488 00:23:51.000 --> 00:23:52.000 10 stores? 489 00:23:52.000 --> 00:23:53.000 Yes 490 00:23:53.200 --> 00:23:55.750 Then, the serving and the skewer robot 491 00:23:55.850 --> 00:23:57.650 will be released later, right? 492 00:23:57.850 --> 00:23:59.300 Yes, they will be released later 493 00:23:59.300 --> 00:24:01.150 Which one is more popular? 494 00:24:01.300 --> 00:24:05.300 The serving robot is still a new experience for customers, 495 00:24:05.550 --> 00:24:08.550 so it's going up in demand slowly 496 00:24:09.000 --> 00:24:10.600 But, for the skewer robot, 497 00:24:10.700 --> 00:24:13.400 there are so many people wanted in the kitchen 498 00:24:13.600 --> 00:24:15.350 So, for the skewer robot, 499 00:24:15.500 --> 00:24:18.300 it's going up in demand 500 00:24:18.600 --> 00:24:20.500 But, from what I've heard, 501 00:24:20.600 --> 00:24:23.000 we see a lot of serving robots, 502 00:24:23.100 --> 00:24:25.350 but we haven't seen a lot of kitchen robots 503 00:24:25.550 --> 00:24:26.000 Yes 504 00:24:26.500 --> 00:24:28.400 So, the kitchen robot 505 00:24:28.400 --> 00:24:30.200 is more competitive, isn't it? 506 00:24:30.550 --> 00:24:31.350 Yes 507 00:24:31.450 --> 00:24:33.700 Actually, for the kitchen robot, 508 00:24:33.800 --> 00:24:36.750 it's usually inside the kitchen, 509 00:24:36.750 --> 00:24:38.850 so it's a little less exposed, 510 00:24:39.000 --> 00:24:41.250 so you might feel that way 511 00:24:41.500 --> 00:24:42.700 But, instead, 512 00:24:43.000 --> 00:24:45.250 the feature of the kitchen robot is that 513 00:24:45.450 --> 00:24:47.900 it's a little cheaper 514 00:24:49.000 --> 00:24:51.850 So, there are customers' views 515 00:24:51.950 --> 00:24:54.650 on whether it should be seen 516 00:24:54.750 --> 00:24:56.500 as a robot or a machine 517 00:24:56.850 --> 00:24:59.100 But, the reason we emphasize 518 00:24:59.300 --> 00:25:02.350 the cooking robot is that machines 519 00:25:02.350 --> 00:25:05.250 don't collect data and operate in different ways 520 00:25:05.550 --> 00:25:10.700 So, the algorithms that collect the data 521 00:25:10.700 --> 00:25:13.850 and automate the operating methods 522 00:25:13.850 --> 00:25:16.400 can only be used by robots 523 00:25:16.400 --> 00:25:18.550 On the outside, it looks like it's a machine, 524 00:25:18.650 --> 00:25:21.700 but the logic that goes into the movement 525 00:25:21.700 --> 00:25:24.250 is clearly different between robots and machines 526 00:25:24.500 --> 00:25:26.200 So, for the cooking robot, 527 00:25:26.250 --> 00:25:28.400 there are more than 10,000 logics 528 00:25:28.810 --> 00:25:29.650 10,000, huh? 529 00:25:29.650 --> 00:25:31.800 Yes, over 10,000 logics 530 00:25:32.350 --> 00:25:36.000 So, we made it possible to cover 531 00:25:36.150 --> 00:25:41.000 all the manuals that F&B brands have with robots 532 00:25:41.300 --> 00:25:44.950 Since regular customers can't see the kitchen robot, 533 00:25:45.100 --> 00:25:49.350 I think it's better for the boss to accept it 534 00:25:49.530 --> 00:25:51.350 Cause I'm the only one that have to accept that 535 00:25:51.750 --> 00:25:55.000 When we actually run a restaurant with serving robots 536 00:25:56.035 --> 00:25:59.435 and suppose that we met 10 restaurant owners 537 00:25:59.900 --> 00:26:06.500 And when we say that 30% of them choose the serving robots 538 00:26:06.800 --> 00:26:09.900 For cooking robot, the rate goes up to 70% 539 00:26:10.185 --> 00:26:12.564 7 out of 10 need cooking robots 540 00:26:12.864 --> 00:26:15.219 So the conversion rate is much higher 541 00:26:15.394 --> 00:26:16.364 Yes, that's right 542 00:26:18.464 --> 00:26:21.209 That's amazing. Is there anything else you're preparing? 543 00:26:21.584 --> 00:26:24.784 We're automating F&B right now, 544 00:26:25.184 --> 00:26:27.734 but the vision we're pursuing 545 00:26:27.884 --> 00:26:32.734 is a robot solution that automates various industries 546 00:26:33.484 --> 00:26:37.723 So robots in the F&B market are commercialized 547 00:26:37.923 --> 00:26:44.574 Now, we're doing POC on agriculture, construction, and logistics 548 00:26:44.824 --> 00:26:46.174 So, in the same way, 549 00:26:46.174 --> 00:26:50.324 to find the right product market fit for various industries, 550 00:26:50.524 --> 00:26:55.933 we're doing POC directly with big companies right now, 551 00:26:56.183 --> 00:27:01.274 and we're showing one or two indicators of that right now 552 00:27:01.424 --> 00:27:04.574 So, the serving robot will be officially released, 553 00:27:04.624 --> 00:27:09.004 and the cooking robot will be released together 554 00:27:09.204 --> 00:27:13.663 Then, two of the main products will be released at the same time in October, 555 00:27:13.863 --> 00:27:16.613 and then we'll do POC between big companies, 556 00:27:16.613 --> 00:27:19.584 and we'll do logistics and agriculture 557 00:27:19.884 --> 00:27:21.464 When will that be released? 558 00:27:21.814 --> 00:27:25.114 We're looking at the second half of next year 559 00:27:25.364 --> 00:27:27.014 or the first half of next year 560 00:27:27.464 --> 00:27:29.024 So everything's been released 561 00:27:29.264 --> 00:27:33.624 Then, what do you think about the company you're planning? 562 00:27:34.624 --> 00:27:38.924 In fact, everyone knows that NVIDIA 563 00:27:38.924 --> 00:27:42.283 is recognized as a graphic card 564 00:27:42.683 --> 00:27:45.883 But in the end, the core value of NVIDIA 565 00:27:45.983 --> 00:27:49.024 is that it is the only independent company 566 00:27:49.024 --> 00:27:52.054 that can operate AI as a whole 567 00:27:52.304 --> 00:27:55.264 NVIDIA has repositioned itself 568 00:27:55.544 --> 00:27:57.544 People see Helper Robotics 569 00:27:57.544 --> 00:27:59.904 as a serving robot and a cooking robot, 570 00:27:59.904 --> 00:28:02.704 but in fact, we aim to become a company 571 00:28:02.804 --> 00:28:06.953 that can optimize and increase the operating rate 572 00:28:07.103 --> 00:28:11.503 only if there is Helper Robotics in the middle 573 00:28:11.603 --> 00:28:13.543 to introduce robots to any industry 574 00:28:13.943 --> 00:28:15.804 You have such a big vision, right? 575 00:28:15.804 --> 00:28:16.463 Yes, that's right 576 00:28:16.613 --> 00:28:17.893 I think that's super possible 577 00:28:17.893 --> 00:28:18.964 Thank you 578 00:28:19.344 --> 00:28:22.644 Lastly, would you like to say something 579 00:28:23.344 --> 00:28:28.053 to the overseas students who are watching this video 580 00:28:28.703 --> 00:28:32.353 and say that it would be good to consider this 581 00:28:32.353 --> 00:28:35.264 when starting a startup? 582 00:28:36.864 --> 00:28:41.253 In my case, this robot startup is my second startup 583 00:28:41.503 --> 00:28:45.024 So even if I started my first robot startup, 584 00:28:45.584 --> 00:28:50.184 I was able to say that the development was perfect, 585 00:28:50.434 --> 00:28:53.984 but there were many parts that did not fit 586 00:28:53.984 --> 00:28:57.044 when I applied the developed product to the market 587 00:28:57.394 --> 00:28:59.584 So, because I had such a failure experience, 588 00:28:59.584 --> 00:29:03.664 when we do Helper Robotics now, 589 00:29:03.664 --> 00:29:10.464 we tried to find PMF while opening the store 590 00:29:10.814 --> 00:29:15.214 That's why all startups have to grow fast 591 00:29:15.214 --> 00:29:19.954 with various attempts and results 592 00:29:20.304 --> 00:29:23.554 But even when you try various things, 593 00:29:23.554 --> 00:29:26.703 you have to focus on the market 594 00:29:26.953 --> 00:29:29.553 And in the end, startups 595 00:29:29.553 --> 00:29:31.503 have to make products that can be sold 596 00:29:31.503 --> 00:29:36.914 with the market as the center of thought rather than their own thoughts, 597 00:29:37.114 --> 00:29:39.053 in order to make them grow fast 598 00:29:40.753 --> 00:29:43.763 Thank you for your insightful words 599 00:29:43.863 --> 00:29:46.313 Thank you for your valuable words 600 00:29:46.563 --> 00:29:50.063 about value proposition and product market fit 601 00:29:50.663 --> 00:29:53.354 Thank you for coming, you must have been so busy 602 00:29:53.354 --> 00:29:55.453 Thank you for inviting me to a good place 603 00:29:56.353 --> 00:29:58.553 To everyone watching online, 604 00:29:58.553 --> 00:30:02.623 we hope you find this session very valuable and insightful 605 00:30:03.123 --> 00:30:05.713 Thank you for your time and attention