Summary
- Closed for EoI
- Profile Type
- Technology offer
- POD Reference
- TOKR20240820002
- Term of Validity
- 20 August 2024 - 20 August 2025
- Company's Country
- South Korea
- Type of partnership
- Research and development cooperation agreement
- Commercial agreement with technical assistance
- Investment agreement
- Targeted Countries
- All countries
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General information
- Short Summary
- Parallel Space Co., Ltd., a South Korean app developer, offers P-Engine and P-House, which use Spatial AI and Geometric Algorithms to create accurate 3D models from real-world data. This technology improves digital twin creation and process visualization. The company seeks partnerships with LiDAR equipment manufacturers and large-scale manufacturers for efficient digital twin implementation. Target markets include Europe, the US, Japan, and China.
- Full Description
-
"Intro:
Parallel Space is an IT startup specializing in the development of automated software programs that convert point cloud data into meshes. It focuses on creating software solutions that automate 3D modeling, which traditionally requires extensive manual effort by 3D modelers. This manual process is inevitably time-consuming and costly, making automation an essential development in the field.
Technologies: P-Engine/P-House
Recognizing the necessity of automating these tasks, Parallel Space embarked on the research and development of such an automated program. The company's primary focus is on two key sectors: 1. industrial real estate and 2. residential/commercial real estate. To address the specific needs of each sector, Parallel Space has developed two distinct automated solutions, P-Engine and P-House, respectively.
1) P-Engine:
For industrial real estate, where precision and accuracy are paramount—such as in modeling factory processes—Parallel Space offers the P-Engine solution. This automated solution leverages sophisticated technologies such as Spatial AI and Geometric Algorithms to ensure that real-world information is accurately reflected, allowing for the flawless implementation of factory processes in a virtual environment.
2) P-House:
For residential and commercial real estate, Parallel Space targets the B2BC market, offering the P-House solution. This solution is designed with the end-user in mind, ensuring that the visually refined data accurately reflects real-world information. This solution enhances practicality by incorporating a user-friendly UI/UX within its function, making it more accessible and effective for the end-user. Additionally, the solution integrates the latest machine learning techniques and Spatial AI, thereby increasing efficiency and precision.
Vision:
Although the solutions are specialized in each sector, Parallel Space's core technology lies in its ability to automatically reconstruct 3D models that reflect real-world information. This technology enables a wide range of applications, including internal visualization and creating digital twin models, opening up limitless possibilities for innovation and advancement.
Would-be Partner:
Parallel Space Co., Ltd. seeks to partner with companies specializing in producing high-precision LiDAR scanners and advanced surveying equipment, such as NavVis and Leica. These companies are renowned for their expertise in developing cutting-edge hardware technologies essential for generating continuous and accurate 3D models. However, their primary focus on hardware development has left a gap in software capabilities that Parallel Space aims to address.
By integrating its advanced 3D mesh automation solutions with the precision scanning technology of companies like NavVis and Leica, Parallel Space envisions creating a unified platform that seamlessly converts captured data into 3D models. This integration promises to deliver highly accurate 3D models immediately after scanning, revolutionizing the efficiency of digital twin creation.
In addition to these partnerships, Parallel Space is also interested in collaborating with manufacturing companies that own and operate large-scale production facilities. These manufacturers, particularly in sectors such as automotive, electronics, and heavy industry, can benefit significantly from the fast and cost-effective creation of digital twins and enhanced process visualization. By combining their manufacturing capabilities with Parallel Space’s software, these companies can improve operational efficiency, monitor processes in real time, and optimize their production lines.
For large-scale enterprises—including factories, construction sites, government agencies, and other high-security facilities—Parallel Space offers its solutions in both on-premise and SaaS formats. This flexibility allows for tailored deployment, ensuring that the integrated solutions meet th - Advantages and Innovations
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Innovation:
Parallel Space Co., Ltd.'s P-Engine solution is an advanced software program designed to automatically create 3D meshes from point clouds that precisely align with real-world spaces, a critical component in building digital twins. Recognizing the complexity and demands of handling 3D graphics, which are inherently more intricate and data-intensive than text or 2D images, the software's interface has been meticulously designed to be as simple and clear as possible, allowing users to focus entirely on their 3D work.
Ease of use:
Given that the core functionality of P-Engine involves the automatic conversion of 3D graphics, certain operations may require considerable processing time. To enhance the user experience, the software includes features that allow users to comfortably monitor progress, pause and save their work if necessary, and easily cancel ongoing operations, thereby reducing potential stress.
Technology:
P-Engine leverages state-of-the-art reconstruction algorithms, enabling the creation of meshes from extremely thin or fine point clouds that could not have been reconstructed before in previous algorithms. Also, P-Engine automatically detects and addresses common issues such as island effects, where meshes break into small fragments, and balloon effects, where meshes incorrectly inflate in areas lacking point cloud data. These issues can either be excluded from the final result or corrected with additional calculations.
Competitor&Performance:
Global competitors in the 3D reconstruction field include Prevu3D, Agisoft, and Epic Games. Each company specializes in different types of input data and serves different purposes in the field of 3D reconstruction. Parallel Space stands out by handling multimodal data, enabling the most precise 3D reconstruction. Through these technologies, Parallel Space has collaborated with some of South Korea's leading companies, including Samsung C&T, LG Electronics, and Dongkuk Steel. - Stage of Development
- Available for demonstration
- Sustainable Development Goals
- Goal 9: Industry, Innovation and Infrastructure
- Goal 10: Reduced Inequality
- IPR status
- IPR granted
Partner Sought
- Expected Role of a Partner
-
Parallel Space Co., Ltd. is actively seeking strategic partnerships with companies specializing in the production of high-precision LiDAR scanners and advanced surveying equipment. Notable examples include industry leaders like NavVis and Leica. These companies are renowned for their cutting-edge hardware technologies, which are crucial for generating continuous and accurate 3D models. However, their primary focus on hardware development has created a gap in software capabilities. Parallel Space aims to bridge this gap by integrating its advanced 3D mesh automation solutions with its technologies. This integration would result in a unified platform capable of converting captured data into highly accurate 3D models in real-time, offering seamless and efficient digital twin creation.
Beyond hardware manufacturers, Parallel Space is also keen on partnering with manufacturing companies that own and operate large-scale production facilities. These manufacturers are ideal candidates for implementing digital twins and enhancing process visualization. By collaborating with Parallel Space, these companies can achieve faster, more cost-effective digital twin creation, leading to significant improvements in operational efficiency, real-time monitoring, and process optimization. Industries such as automotive, electronics, and heavy industry, where precision and real-time data are critical, stand to gain the most from these partnerships.
To ensure that the highest standards of quality and reliability are met, Parallel Space prefers to collaborate with partners that hold relevant industry certifications and adhere to international standards. Certifications such as ISO 9001 (Quality Management) and ISO 27001 (Information Security) are vital for maintaining rigorous quality assurance and robust data security. Additionally, partners should possess specific certifications relevant to their industries, such as ASTM and IEC standards for LiDAR technology and manufacturing processes. These certifications not only reflect a commitment to quality but also ensure compliance with global standards, which is crucial for successful international collaborations.
Parallel Space is focused on scaling its solutions to meet the demands of large enterprises with global operations. The company seeks partners who share this vision and possess the experience and resources necessary to support the expansion of these solutions into new markets. This includes the ability to adapt the technology for industry-specific applications, ensuring that the solutions meet the unique needs of sectors such as manufacturing, construction, and government. Partners with a strong presence in international markets are precious, as they can significantly expand the reach of Parallel Space’s solutions and facilitate successful global implementation.
For large-scale enterprises and industry-specific applications, Parallel Space is open to forming joint ventures or strategic alliances. These collaborations would involve co-developing customized solutions tailored to the specific needs of different sectors, including automotive manufacturing, electronics production, and heavy industry. By leveraging the expertise of its partners, Parallel Space can deliver highly specialized services that address the unique challenges of each industry, thereby enhancing the overall value of the solutions offered. Moreover, these joint ventures provide opportunities for co-marketing and co-deployment, ensuring that the solutions reach a broader audience and are successfully adopted across various markets. - Type and Size of Partner
- Big company
- Other
- SME 50 - 249
- Type of partnership
- Research and development cooperation agreement
- Commercial agreement with technical assistance
- Investment agreement
Dissemination
- Technology keywords
- 01001002 - Digital Systems, Digital Representation
- Market keywords
- 02001007 - Other mini and micro computers
- 03004003 - Other electronics related equipment
- 01001004 - Other commercial communications
- 08005 - Other Industrial Products (not elsewhere classified)
- Targeted countries
- All countries