MATTER and KOSME launch U.S. Market Expansion Program for Korean SMEs and startups with select validation studies
May 7, 2024, CHICAGO, IL, and SEOUL, KR — MATTER, the premier healthcare incubator and innovation hub, in collaboration with the Korea SMEs and Startups Agency (KOSME), has launched the U.S. Market Expansion Program to prepare a cohort of Korean healthcare companies for U.S. market success. This year, MATTER will support eight small-medium enterprises (SMEs) and startups focused on successful business landing in the U.S.
Over the past three years, MATTER and KOSME have partnered to help over a dozen SMEs launch in the U.S., helping them navigate the nuances of the U.S. healthcare system and meet potential customers, partners and investors. This year, the U.S. Market Expansion Program has achieved a significant expansion milestone: The program’s capacity has doubled, going from accommodating four SMEs and startups to eight. Additionally, the program is now supporting two validation study partners, which is an increase from just one partner in 2023.
The four-month program will support eight SMEs and startups with programming, resources and mentorship from MATTER’s executives-in-residence, venture acceleration team and mentors 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.
Select SMEs and startups will also participate in a four- to six-week validation study with health system partners (subject to MATTER and validation study partner approval). SMEs, validation study partners and MATTER will jointly design the problem statement for the validation study which may focus on, but is not limited to, technical, cost or usability.
Learn more about the U.S. Market Expansion Program for Korean SMEs and startups 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.