[Startup Story] Park Jae-joon, CEO of Antock, “Hubble Database Used as a Performance Tracking Service for Startups”]
“Reliable information is important in order to disguise privately held companies. Antock provides information by analyzing not only financial data but also alternative data such as patents, media reports, and comparisons with successful companies.”
Park Jae-joon, CEO of Antock, recently revealed in an interview with Money Today that the number of venture capital (VC), banks, and other institutions using the corporate big data solution 'Hubble Database' (Hubble Database), which was launched last January, is increasing. The Seoul Credit Guarantee Foundation, Korea Social Investment, Woori Financial Holding, and KB Financial Holding are using the Hubble database.
The Hubble database takes its name from the Hubble Space Telescope, which is most commonly used in astronomical research. It was developed with the goal of creating a system to discover good companies that can become future unicorns based on data.
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Unlike listed companies, it is difficult for privately held companies to grasp sales, operating profits, and patent holdings. Therefore, the solution developed is the Hubble database, which tracks, collects, and then analyzes data from 810,000 domestic corporations.
Judging a company's growth with 300 kinds of open data... Comparing with successful companies is also possible
When Antock was founded in 2015, Mr. Park aimed to develop a financial platform for individuals, but during the development process, he changed the direction of development to a B2B (business-to-business) engine that is easy to generate sales.
Mr. Park said, “Antock has excellent big data technology to secure and integrate source data. The core competency is financial visualization technology that can collect data, create algorithms that can be analyzed in depth, and can easily view evaluation results.” He then explained, “However, even if the platform was completed, I decided that it was useless if someone didn't use it, and I thought I should first build trust in the B2B market.”
The Hubble database regularly updates up to 300 types of open data in 7 major areas: identification (related to establishment and corporate registration information), organization (related to employee employment and wages), technology (related to intellectual property rights such as patents and utility models), certification (related to corporate and technical certification), performance (related to government support programs, external awards), business (related to service products and media coverage), and performance (information related to diagnosis and analysis results).
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He explained, “I believe that by using the Hubble database, startups can diagnose their own business performance and competitiveness, and furthermore, expand their business with entrepreneurship performance research and credit evaluation services.”
In fact, Woori Financial Holding uses the Hubble database to track the performance of fintech startups, and KB Financial Group uses it for promising startup discovery and curation services. In January, Antock signed a business agreement with Aizen Global, a company specializing in financial AI, and is also preparing to enter the field of credit evaluation and privately held investment roboadvisor for small and medium-sized enterprises and startups.
Due to the high growth potential of corporate curation... Expectations for use in the ESG area
The Hubble database also has a corporate curation function. It is a service that recommends companies by entering keywords in the field of interest in the search box. CEO Park believes that users can discover unknown superior companies and create a virtuous cycle of financing by inducing future investment.
The first project for this purpose is the discovery of ESG (Environmental, Social, and Governance) companies. With support from the Ministry of Small and Medium Venture Enterprises, Antock is developing an 'social finance data-based impact investment roboadvisor' system with the goal of completion in July 2022.
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Mr. Park said, “By completing the robo-advisor system, we can expand the field not only to ESG companies but also to general business groups. I want to enter the B2C (business-to-person transaction) market in the long term and open up an era of popularization of the Hubble database.”
Article written by: Reporter Kim Kun-woo
Article source: Money Today (https://news.mt.co.kr/mtview.php?no=2021101211163176355)
