MATTER, UChicago Medicine and KOSME launch market adoption program for Korean entrepreneurs entering the U.S.
July 11, 2023, CHICAGO and SEOUL, Kor. — MATTER, the premier healthcare incubator and innovation hub, in collaboration with the Korea SMEs and Startups Agency (KOSME), has launched the third annual Korean SME U.S. Market Adoption Program to prepare a cohort of Korean healthcare companies for U.S. market success. This year, select entrepreneurs from the program will have the opportunity to validate their solutions at the University of Chicago Medicine.
Over the past two years, MATTER and KOSME have partnered to help 10 small to medium-sized enterprises (SMEs) launch in the U.S., helping them navigate the nuances of the U.S. healthcare system and meet potential customers, partners and investors.
The four-month program will support four SMEs 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. In addition, participants will receive a one-year MATTER membership and have the opportunity to engage with peers, potential partners, investors and industry influencers.
This year, MATTER and KOSME have partnered with UChicago Medicine’s Center for Healthcare Delivery Science and Innovation (HDSI) to facilitate validation studies during the program. Through this collaboration, the teams will have the opportunity to validate their basic assumptions, data models, technologies and workflows in real-world clinical settings. UChicago Medicine, an academic health system on Chicago’s South Side, will also provide subject matter expertise and mentorship to the Korean cohort.
“With the addition of UChicago Medicine, this year’s program is going to be our strongest yet,” said Steven Collens, CEO of MATTER. “The program will give Korean entrepreneurs an extraordinary degree of insight into how the U.S. healthcare system works, how their solutions can be adapted for the U.S. market and how to build their businesses in the U.S.”
“We look forward to meeting this cohort of Korean entrepreneurs, who are building cutting-edge technologies that can benefit our patients here in Chicago,” said Sharon Markman, executive director of clinical excellence innovation and engagement at UChicago Medicine. “Our physicians and staff will collaborate with the entrepreneurs to help them improve their solutions and go-to-market strategies for success in the U.S. market.”
Learn more about the 2023 cohort:
Deep Bio is an AI healthcare company that provides solutions for unmet medical needs using deep learning technology with a focus on digital pathology. Currently, using a convolutional neural network with the input of myriad needle biopsy images, they are developing a computer-aided detection and diagnosis system for prostate cancer.
Medipixel was established in 2017 as a company that contributes to the improvement of the quality of human life by innovating diagnostic and therapeutic procedures in cardiovascular disease with the power of AI. Medipixel has the best expertise in AI technology for computer vision, deep learning and reinforcement learning, with their Medipixel XA Series having received FDA 510(k) and Korean Ministry of Food and Drug Safety (MFDS) approval and their FFRXA currently undergoing clinical trials for MFDS approval.
PROTEINA has developed the first-in-class single-molecule, co-immunoprecipitation-based general platform, which enables precise measurement of protein-protein interactions (PPIs) at the single-molecular level. Their wealth of knowledge of and experience with the intricacies of PPIs is reflected in their diverse range of research services and products, including biomarker discovery for drug development, deciphering the mechanisms of pharmaceutical compounds and identifying the ideal drug dose of a specific drug treatment. PROTEINA has seen their goal of developing accurate, reliable companion diagnostic devices slowly become a reality.
VUNO is an AI medical software company that develops deep learning-based medical AI solutions using medical imaging (X-ray, CT, MRI) and biosignal data. VUNO strives to support medical practitioners in their day-to-day workflows, empowering them to make better diagnostic decisions faster and more accurately and to improve quality of patient care, monitoring and treatment planning. VUNO Med® - DeepCARS™ is an AI-based patient cardiac arrest risk management system for cardiac arrest monitoring and risk prediction that received Breakthrough Device Designation from the FDA earlier this month.
At MATTER, we believe collaboration is the best way to improve healthcare. The MATTER collaborative includes more than 800 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.
Since 1979, the Korea SMEs and Startups Agency (KOSME) has been growing together with SMEs and startups with 24 global offices in 16 countries. KOSME is a non-profit, government-funded organization established to implement government policies and programs for the sound growth and development of Korean SMEs.
To achieve its purpose, KOSME operates financial and non-financial programs for SMEs and startups. Through financial programs, KOSME provides financing for SMEs and startups to expand operations, develop new products and convert their business structures. With advisory programs including consulting, training, marketing and global cooperation programs, KOSME supports SMEs and startups to enhance their global competitiveness. KOSME assists 22,000+ companies annually, and the 2023 annual budget was $7.9 billion. For more information, visit KOSME.