Rockville, MD - On June 8th, Korea SMEs and Startups Agency (KOSME), its Korean Business Development Center (KBDC) and BioHealth Innovation, Inc. (BHI) will kick-off their second virtual US Market Entry program for Korean companies expanding to the United States.
Last summer, BHI and KOSME conducted a similar pilot program, which included five medical device and diagnostics companies.
This year’s competitively selected 5-member cohort includes medical diagnostics, medical devices, health AI and software companies. Over 25 Korea-based health-tech companies applied to the program.
image: KOSME President Hakdo Kim and BHI President Rich Bendis
The program will guide the cohort to adopt cultural business differences and communication methods, outline a go-to-market strategy, connect with strategic partners & key opinion leaders, and suggest product or prototype modifications. BHI’s Entrepreneurs in Residents (EIRs) mentor the cohort to achieve a successful US biohealth market entry.
BHI is pleased to welcome the following finalists to the BioHealth Capital Region:
- H Robotics, which develops, manufactures, and distributes state-of-the-art rehabilitation solutions, including medical robots and data-driven telemedicine offerings for patients suffering from stroke complications and other neurological or musculoskeletal diseases. www.hrroboticsinc.com
- Neurophet is a software company that uses deep learning AI-based image analysis to diagnose brain diseases. www.neurophet.com
- NuriBio developed a PCR-based genetic analysis tools that can provide efficient, cost-effective and accurate mutation detection in real-time. www.nuribio.com
- VPIX Medical Inc. developed a real-time digital biopsy platform called cCell, which enables surgeons to perform qualitatively and quantitatively enhanced cancer surgery. www.vpixmedical.com
- Wizbiosolution is a vertically integrated point of care (POC) focused company that plans to transform current diagnostics practices by introducing OTC infectious disease testing. www.cleo1.net
"Our team was very impressed with the quality of KOSME’s applicants this year. The cohort includes a complementary range of technologies and new possibilities for high-quality patient care," said Rich Bendis, BHI's CEO.
image: KOSME representatives visiting BHI offices in Rockville, Maryland
For 20 weeks from June through October, the companies will participate in lectures from subject matter experts, receive one-on-one and group mentoring from BHI’s renowned Entrepreneur-In-Residence program, be connected to strategic partners and networks, and benefit from other activities including the 8th Annual BioHealth Forum in September.
“We continue to be impressed by BHI’s team which provided guidance and knowledge of the first-hand knowledge of the US biotech and healthcare markets. There is no doubt our second cohort will also benefit from this partnership,” said Youngtae Kim, Director of KBDC.
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About KOSME:
KOSME, Korea SMEs and Startups Agency, is a Korean government agency established in 1979 to support the growth of Korean startups and small-and-medium sized enterprises. The agency runs a $50B government fund to implement various government initiatives from policy funds to overseas marketing, startup & technical assistance, and human resources. KOSME has about 1,700 employees, 33 regional offices in Korea, and 27 global offices around the world, including Washington, D.C., and other four in the U.S. Learn more at www.kosmes.or.kr
About BHI:
BHI is a non-profit regional innovation intermediary, which works with growth-stage biohealth companies to help them commercialize their technologies. BHI is headquartered in Rockville, MD. Learn more at www.biohealthinnovation.org