Seoul Biohub announced on the 24th that it successfully completed the 'Digital Healthcare Innovation Day' on the 19th. 

This event was organized to introduce companies selected for the 'Digital Healthcare Innovation Challenge' program, jointly operated by Seoul Biohub and global accelerator 'Draper Startup House Korea', and to share successful cases and insights of digital health startups entering the global market.

The 'Seoul Biohub-Draper Digital Healthcare Innovation Challenge' recruited participating companies last November to support the global expansion of digital healthcare and AI/DATA-based medical device startups. A total of 45 teams applied, and a total of 3 teams were selected through written and face-to-face evaluations. With a competition rate of 15:1, Medical AI (a medical device development company that develops electrocardiogram artificial intelligence software), Superas (a digital pathology morphometry solution development company based on AI), and Wismedical (a remote medical sleep diagnosis solution development company) were selected.

These companies will be provided with professional coaching and networking for business model analysis, overseas investment attraction strategy advancement, overseas VC meetings, market entry, etc. through Draper Startup House’s domestic and international network. They will also be given the opportunity to participate in Seoul Bio Hub’s entry and global expansion programs first.

Medical AI CEO Kwon Jun-myeong stated, “We plan to use this opportunity to lay the foundation for our overseas expansion,” and added, “We have the ambition to use Medical AI’s AiTiALVSD to enable early detection of heart failure patients not only in Korea but also around the world, and to enable rapid diagnosis and treatment.” 

Wismedical Co-CEO/CTO Yeo Woon-hong said, “We are grateful for being selected as a Draper partner company,” and introduced Wismedical’s sleep diagnostic equipment technology, which develops sleep diagnostic devices in the digital healthcare field, and expressed his ambition to lead the global sleep market in the future. 

CEO Yong-Hwan Kim of SuperSpeed ​​said, “Through our participation in this overseas expansion program, we have secured reliable and strong support for entering the global market,” and expressed his will to “do our best to create a meaningful success story that will serve as a stepping stone for the global expansion of domestic startups.”

Next, a fireside chat session was held with the theme of ‘AI-based digital healthcare startup global expansion success strategy’. Draper Startup House CEO Lee Se-yong served as the moderator, and the panelists included Huron CBO Park Chan-ik, MediWhale COO Shin Na-yeon, 3billion CBO Lee Sook-jin, and AITRIX CBO Cho Hoon. 

The panelists shared their experiences on the following topics: △Major challenges in entering the U.S. market, △U.S. healthcare regulations and certification, △Localization strategies and partnerships, △Investment attraction and network utilization. They also shared vivid experiences and achievements gained in various global markets such as the Middle East, Europe, and Southeast Asia, and emphasized the importance of establishing market entry strategies through analysis of each target market.

The event concluded with a business networking session where attendees shared their global expansion strategies and visions. There was active discussion about new collaboration opportunities as well as sharing insights among attendees.

Seoul Biohub stated, “For startups with limited manpower and support, global expansion requires a clear strategy above all else,” and added, “We will continue to spare no effort in providing diverse support so that companies can find the answer to success in the global market.”

Reporter Kwon Hyuk-jin hjkwon@yakup.com https://www.yakup.com/news/?mode=view&cat=12&cat2=121&cat3=0&nid=304282