Bagel Labs, founded in January 2016, is a startup company that provides a platform service for taking and recording length measurements. The company’s core product is the “Bagel,” a smart tape measure that is capable of measuring length in three different ways. Users can draw a string from the device to take and record length measurements, which are displayed on a liquid crystal display, rather than the typical linear scale. The device also features a small wheel that can be used to measure distances across surfaces, making it great for one-hand use and taking measurements over curved surfaces and eliminating the need to extend and retract the string repeatedly to take long measurements. Lastly, for hard-to-reach spaces, the Bagel smart tape measure features an ultrasonic sensor for taking non-contact measurements.

 

 

A CEO Who Left a Big Company to Start His Own Company, but Had Trouble Producing a Prototype

 

Park Soo-hong, the CEO of Bagel Labs, first started thinking about starting a business in 2014, when the explosive growth of Ticket Monster and the People of Delivery, one of the few food delivery apps in Korea, inspired greater interest in startups nationwide. According to Park, “At the time, startups were booming, with Facebook holding its initial public offering and numerous high-profile M&As of overseas startups taking place. These startup success stories inspired me to start my own company.” Contributing to Park’s decision to enter the startup scene were the fact that he saw no future in the industry he was in at the time and the expansion of startup support programs in line with the government’s creative economy initiative.

 

Despite the efforts of his family and friends to dissuade him, Park ambitiously threw his hat into the ring, but he soon faced a grim reality. He encountered many difficulties in terms of producing and marketing new products. Park said, “Product planning, parts selection, and the accompanying design and pricing processes were all intertwined and highly complex.” He also noted, “In particular, the overall process went too fast, leaving no time to complete some necessary tasks. In the end, I was forced to go back to the drawing board.” However, the more difficulties he faced, the more he focused on developing products.

 

 

If there is a Smart Scale, Why is there no Smart Tape Measure?

 

Concerning the Bagel smart tape measure, Park emphasized that the product’s biggest benefit for users is being able to measure length in various ways without having to physically write anything down. Drawing a comparison, Park said, “The use of electronic scales for measuring weight has become commonplace, with Internet-connected platforms such as smart scales having been developed over five years ago. Despite the demand for a way to measure length accurately and conveniently, it is still common to use traditional tape measures with linear scales. Bagel Labs’ smart tape measure, however, is unique in that it digitizes measurement data and uploads it to the Internet.”

 

 

Proving the Potential of Its Product as Shown through its Crowdfunding Campaign

 

Although it is still a fledgling company, having been established only slightly over one year ago now, Bagel Labs has already been recognized for its business and technological capabilities. After attracting USD 100 million in initial investment from FuturePlay, a tech accelerator, Bagel Labs was selected to participate in the Small and Medium Business Administration’s TIPS program. With this support, the company was able to launch crowd-funding campaigns on Kickstarter, the world’s largest crowd-funding platform, and Indiegogo, earning USD 1.35 million and USD 500,000 in sales, respectively.

 

 

Throughout this process, Bagel Labs received significant support from Born2Global. It was selected to be a tenant company and member company, received consulting services related to complex legal and accounting issues, and provided with office space. In addition, the company had the chance to meet with representatives from numerous venture capital firms and accelerators by participating in the Demo Days events in the United States, China, and Europe—also thanks to the support of Born2Global. As a result, in July last year, Bagel Labs won second prize at the first Sino-Korean Youth Innovation and Entrepreneurship Contest and was the top company at the IoT Innovation Awards Showcase.

 

 

Although the Bagel smart tape measure is still in the initial phase of development, Bagel Labs has received various proposals from abroad since showcasing the prototype. Now, the company plans to take its time to carefully and thoroughly draw up a sales strategy in the first half of the year, with the aim of beginning full-fledged sales in the second half. It is preparing to launch new products as well. “Following the success of our global crowd-funding campaign, we have been flooded with requests for product distribution,” said Park. “We are now making preparations to ensure that sales of the Bagel smart tape measure can get underway in various overseas markets in the second half of this year.”

 

 

 

 

 


 

 

Our member in this article

 

 

Description

Our smart tape measure offers an array of size measurement 

and analysis solutions. Users can measure size using the device’s 

string, wheel, or ultrasonic sensor and record voice memos.


 

 

 

 

 

 

Bagel Labs, founded in January 2016, is a startup company that provides a platform service for taking and recording length measurements. The company’s core product is the “Bagel,” a smart tape measure that is capable of measuring length in three different ways. Users can draw a string from the device to take and record length measurements, which are displayed on a liquid crystal display, rather than the typical linear scale. The device also features a small wheel that can be used to measure distances across surfaces, making it great for one-hand use and taking measurements over curved surfaces and eliminating the need to extend and retract the string repeatedly to take long measurements. Lastly, for hard-to-reach spaces, the Bagel smart tape measure features an ultrasonic sensor for taking non-contact measurements.

 

 

A CEO Who Left a Big Company to Start His Own Company, but Had Trouble Producing a Prototype

 

Park Soo-hong, the CEO of Bagel Labs, first started thinking about starting a business in 2014, when the explosive growth of Ticket Monster and the People of Delivery, one of the few food delivery apps in Korea, inspired greater interest in startups nationwide. According to Park, “At the time, startups were booming, with Facebook holding its initial public offering and numerous high-profile M&As of overseas startups taking place. These startup success stories inspired me to start my own company.” Contributing to Park’s decision to enter the startup scene were the fact that he saw no future in the industry he was in at the time and the expansion of startup support programs in line with the government’s creative economy initiative.

 

Despite the efforts of his family and friends to dissuade him, Park ambitiously threw his hat into the ring, but he soon faced a grim reality. He encountered many difficulties in terms of producing and marketing new products. Park said, “Product planning, parts selection, and the accompanying design and pricing processes were all intertwined and highly complex.” He also noted, “In particular, the overall process went too fast, leaving no time to complete some necessary tasks. In the end, I was forced to go back to the drawing board.” However, the more difficulties he faced, the more he focused on developing products.

 

 

If there is a Smart Scale, Why is there no Smart Tape Measure?

 

Concerning the Bagel smart tape measure, Park emphasized that the product’s biggest benefit for users is being able to measure length in various ways without having to physically write anything down. Drawing a comparison, Park said, “The use of electronic scales for measuring weight has become commonplace, with Internet-connected platforms such as smart scales having been developed over five years ago. Despite the demand for a way to measure length accurately and conveniently, it is still common to use traditional tape measures with linear scales. Bagel Labs’ smart tape measure, however, is unique in that it digitizes measurement data and uploads it to the Internet.”

 

 

Proving the Potential of Its Product as Shown through its Crowdfunding Campaign

 

Although it is still a fledgling company, having been established only slightly over one year ago now, Bagel Labs has already been recognized for its business and technological capabilities. After attracting USD 100 million in initial investment from FuturePlay, a tech accelerator, Bagel Labs was selected to participate in the Small and Medium Business Administration’s TIPS program. With this support, the company was able to launch crowd-funding campaigns on Kickstarter, the world’s largest crowd-funding platform, and Indiegogo, earning USD 1.35 million and USD 500,000 in sales, respectively.

 

 

Throughout this process, Bagel Labs received significant support from Born2Global. It was selected to be a tenant company and member company, received consulting services related to complex legal and accounting issues, and provided with office space. In addition, the company had the chance to meet with representatives from numerous venture capital firms and accelerators by participating in the Demo Days events in the United States, China, and Europe—also thanks to the support of Born2Global. As a result, in July last year, Bagel Labs won second prize at the first Sino-Korean Youth Innovation and Entrepreneurship Contest and was the top company at the IoT Innovation Awards Showcase.

 

 

Although the Bagel smart tape measure is still in the initial phase of development, Bagel Labs has received various proposals from abroad since showcasing the prototype. Now, the company plans to take its time to carefully and thoroughly draw up a sales strategy in the first half of the year, with the aim of beginning full-fledged sales in the second half. It is preparing to launch new products as well. “Following the success of our global crowd-funding campaign, we have been flooded with requests for product distribution,” said Park. “We are now making preparations to ensure that sales of the Bagel smart tape measure can get underway in various overseas markets in the second half of this year.”

 

 

 

 

 


 

 

Our member in this article

 

 

Description

Our smart tape measure offers an array of size measurement 

and analysis solutions. Users can measure size using the device’s 

string, wheel, or ultrasonic sensor and record voice memos.


 

 

 

 

 

 

Bagel Labs, founded in January 2016, is a startup company that provides a platform service for taking and recording length measurements. The company’s core product is the “Bagel,” a smart tape measure that is capable of measuring length in three different ways. Users can draw a string from the device to take and record length measurements, which are displayed on a liquid crystal display, rather than the typical linear scale. The device also features a small wheel that can be used to measure distances across surfaces, making it great for one-hand use and taking measurements over curved surfaces and eliminating the need to extend and retract the string repeatedly to take long measurements. Lastly, for hard-to-reach spaces, the Bagel smart tape measure features an ultrasonic sensor for taking non-contact measurements.

 

 

A CEO Who Left a Big Company to Start His Own Company, but Had Trouble Producing a Prototype

 

Park Soo-hong, the CEO of Bagel Labs, first started thinking about starting a business in 2014, when the explosive growth of Ticket Monster and the People of Delivery, one of the few food delivery apps in Korea, inspired greater interest in startups nationwide. According to Park, “At the time, startups were booming, with Facebook holding its initial public offering and numerous high-profile M&As of overseas startups taking place. These startup success stories inspired me to start my own company.” Contributing to Park’s decision to enter the startup scene were the fact that he saw no future in the industry he was in at the time and the expansion of startup support programs in line with the government’s creative economy initiative.

 

Despite the efforts of his family and friends to dissuade him, Park ambitiously threw his hat into the ring, but he soon faced a grim reality. He encountered many difficulties in terms of producing and marketing new products. Park said, “Product planning, parts selection, and the accompanying design and pricing processes were all intertwined and highly complex.” He also noted, “In particular, the overall process went too fast, leaving no time to complete some necessary tasks. In the end, I was forced to go back to the drawing board.” However, the more difficulties he faced, the more he focused on developing products.

 

 

If there is a Smart Scale, Why is there no Smart Tape Measure?

 

Concerning the Bagel smart tape measure, Park emphasized that the product’s biggest benefit for users is being able to measure length in various ways without having to physically write anything down. Drawing a comparison, Park said, “The use of electronic scales for measuring weight has become commonplace, with Internet-connected platforms such as smart scales having been developed over five years ago. Despite the demand for a way to measure length accurately and conveniently, it is still common to use traditional tape measures with linear scales. Bagel Labs’ smart tape measure, however, is unique in that it digitizes measurement data and uploads it to the Internet.”

 

 

Proving the Potential of Its Product as Shown through its Crowdfunding Campaign

 

Although it is still a fledgling company, having been established only slightly over one year ago now, Bagel Labs has already been recognized for its business and technological capabilities. After attracting USD 100 million in initial investment from FuturePlay, a tech accelerator, Bagel Labs was selected to participate in the Small and Medium Business Administration’s TIPS program. With this support, the company was able to launch crowd-funding campaigns on Kickstarter, the world’s largest crowd-funding platform, and Indiegogo, earning USD 1.35 million and USD 500,000 in sales, respectively.

 

 

Throughout this process, Bagel Labs received significant support from Born2Global. It was selected to be a tenant company and member company, received consulting services related to complex legal and accounting issues, and provided with office space. In addition, the company had the chance to meet with representatives from numerous venture capital firms and accelerators by participating in the Demo Days events in the United States, China, and Europe—also thanks to the support of Born2Global. As a result, in July last year, Bagel Labs won second prize at the first Sino-Korean Youth Innovation and Entrepreneurship Contest and was the top company at the IoT Innovation Awards Showcase.

 

 

Although the Bagel smart tape measure is still in the initial phase of development, Bagel Labs has received various proposals from abroad since showcasing the prototype. Now, the company plans to take its time to carefully and thoroughly draw up a sales strategy in the first half of the year, with the aim of beginning full-fledged sales in the second half. It is preparing to launch new products as well. “Following the success of our global crowd-funding campaign, we have been flooded with requests for product distribution,” said Park. “We are now making preparations to ensure that sales of the Bagel smart tape measure can get underway in various overseas markets in the second half of this year.”

 

 

 

 

 


 

 

Our member in this article

 

 

Description

Our smart tape measure offers an array of size measurement 

and analysis solutions. Users can measure size using the device’s 

string, wheel, or ultrasonic sensor and record voice memos.


 

 

 

 

 

 

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