MATTER and KOSME announce cohort for U.S. Market Expansion Program for Korean SMEs and startups with select validation studies

August 2, 2024, CHICAGO, IL, and SEOUL, KR — MATTER, the premier healthcare incubator and innovation hub, and the Korea SMEs and Startups Agency (KOSME) are pleased to announce the 2024 cohort for the fourth annual U.S. Market Expansion Program.

“The prior years’ programs have successfully enabled U.S. market entry and expansion for leading Korean companies,” said Cheolhyeong Jeon, Director at KOSME, Global Business Center-Chicago. “We look forward to supporting the spectacular startups and SMEs in this year’s cohort.”

The 2024 U.S. Market Expansion Program, a four-month initiative, supports eight Korean small and medium enterprises (SMEs) and startups striving to establish a meaningful presence in the U.S. market. Selected SMEs and startups will participate in four- to six-week validation studies with either UChicago Medicine or Parkview Health, giving them the opportunity to validate their solutions in U.S. hospitals and receive feedback from clinicians.

“We look forward to partnering with MATTER and UChicago Medicine to support this year’s cohort of Korean entrepreneurs,” said Ethel Massing, MSHI, SHIMSS, Director of Innovation and Parkview Strategic Enterprises. “Our focus will be on enhancing the entrepreneurs’ innovations and setting them up for success in the U.S. market.”

The four-month program will support eight SMEs and startups with programming, resources and mentorship from MATTER to advance their product, strategy, sales and fundraising in the U.S. Additionally, participants will receive a one-year MATTER membership and have the opportunity to engage with potential partners, investors and industry influencers at a showcase event.

“We have strengthened the program this year by adding Parkview Health as a validation site,” Steven Collens, CEO of MATTER said. “The U.S. Market Expansion Program equips entrepreneurs with essential insights as they work to adapt their solutions to benefit the U.S. market. We look forward to supporting each of these great companies.”

Learn more about the 2024 cohort:

AirsMedical, Inc.:
Based in Seoul, Korea, AIRS Medical is dedicated to enhancing patient experiences and institutional efficiency through the integration of AI, vision, robotics and big data. The company’s flagship product, SwiftMR, is a deep learning-based MRI reconstruction solution. By significantly improving the quality of low-quality images, SwiftMR successfully applies this technology to accelerate MR scan times by up to 50 percent without compromising image quality. SwiftMR has received FDA 510k approval for full anatomical coverage, all image types and scanners. AIRS Medical also has a dedicated U.S. office in Chicago.

AITRICS:
AITRICS utilizes world-class AI technology and clinical problem-solving capabilities to enhance the quality of medical services, safeguard patient health and improve the efficiency of healthcare professionals. Following approval from the Korean Ministry of Food and Drug Safety, AITRICS-Vital Care, an AI-based clinical decision support system, has been deployed in hospitals across Korea. The system continuously monitors patients’ conditions in real time and predicts the risk of deterioration at an early stage. AITRICS-Vital Care is approved for three indications and uses 19 types of EMR data to predict sepsis and acute severe events (mortality, transfer to intensive care unit, cardiac arrest) in patients hospitalized in general wards, as well as mortality risk in the intensive care unit.

Beyondmedicine:
Beyondmedicine offers cognitive behavioral therapy and recovery treatments to patients with temporomandibular disorders (TMD). Through the application, patients can monitor their temporomandibular joint (TMJ) health through health and pain logs, manage behaviors that adversely affect their TMD, assess their condition weekly to track progress, stay informed about changes in their condition through reports and notifications, engage in essential activities such as exercises and meditation, access essential knowledge through educational videos and articles and manage their medications effectively anytime and anywhere.

HERIBio:
HERIBio is a dentistry IT company, providing solutions like HERi2go and Dr.HERi. HERi2go is an online dental lab platform that connects dentists and certified dental labs worldwide, enabling dentists to order prostheses with a seven-day turnaround. Dr.HERi is a mobile application that serves as an AI-based implant search engine and a community service for dental experts, enhancing the convenience and efficiency of implant identification and professional collaboration.

Imagoworks:
Imagoworks offers a web-based, computer-aided dental design solution using AI, streamlining the digital workflow for dental professionals. Together with world-class technology, they are setting new standards for digital dentistry in the global market.

NeuroXT:
NeuroXT is an AI medical software company dedicated to revolutionizing the diagnosis and treatment of Alzheimer’s disease. Utilizing MRI technology with novel deep-learning approaches and neural connectome-based models, NeuroXT has developed two key diagnostic tools: NEXT-ATN, which precisely predicts regional accumulation of pathological proteins without the need for positron emission tomography protocols, and NEXT-ALZ-CDx, a companion diagnostic tool for amyloid-lowering drugs. NeuroXT is actively collaborating with global pharmaceutical companies and major hospitals, preparing for clinical trials and commercialization in the U.S. and Korea.

Phantomics:
Phantomics is an imaging technology developer providing patients and physicians with user-friendly diagnostic solutions as alternatives to invasive tests. Phantomics team of experts in cardiology, radiology, image medical science and artificial intelligence are working to deliver high performance imaging diagnostic tools to physicians.

THYROSCOPE:
THYROSCOPE has pioneered the world’s first digital monitoring solution for the 480 million thyroid dysfunction patients worldwide. Their evidence-based solution provides a safer and more convenient healthcare experience for doctors and patients.

Learn more about the U.S. Market Expansion Program here.

About MATTER
At MATTER, we believe collaboration is the best way to improve healthcare. The MATTER collaborative includes more than 1,000 current and alumni startups from around the world, working together with dozens of hospitals and health systems, universities and industry-leading companies to build the future of healthcare. Together we are accelerating innovation, advancing care and improving lives. For more information, visit matter.health and follow @MATTERhealth.

About KOSME
Since our inception in 1979, mandated by the visionary “Small & Medium Enterprises Promotion Act 1978” by the South Korean Congress, we’ve stood as a steadfast beacon of support for Korean Small and Medium-sized Enterprises (SMEs) and Startups. With an annual budget of $8.1 billion, bolstered by our expansive network of 26 global offices, we proudly serve as the catalyst for over 22,000 Korean companies each year. Through our unwavering dedication, we provide not just support, but comprehensive solutions, empowering these enterprises to navigate and conquer the ever-evolving business landscape of today. For more information, visit KOSME.

About Parkview Health
Parkview Health is a not-for-profit, community-based health system serving a northeast Indiana and northwest Ohio population of more than 1.3 million. Parkview Health’s mission is to improve health and inspire well-being in the communities it serves. With more than 16,000 co-workers, it is the region’s largest employer.

Parkview Health includes 14 hospitals and an extensive network of primary care and specialty care physicians. The flagship Parkview Regional Medical Center campus includes services such as the Parkview Packnett Family Cancer Institute, Parkview Heart Institute, Samaritan flight and ground transport program, Parkview Ortho Hospital, a certified stroke center, verified adult and pediatric trauma centers, Women’s & Children’s Hospital and an outpatient services center.

Parkview has been named one of America’s Best-In-State Employers by Forbes and made Newsweek’s list of Top 100 Most Loved Workplaces.