Brainwave Analysis Startup Slowave Selected as Top Company in Ministry of SMEs and Startups Early Startup Package

Specialized Technology Applied EEG Monitoring Patch and Solution
Providing Objective Sleep Testing

Slowave, a brainwave analysis specialist company, announced on the 29th that it was selected as the top company in the final evaluation of the '2023 Early Startup Package' hosted by the Ministry of SMEs and Startups.

Slowave is a startup that developed a brainwave monitoring patch and solution embedded with an ultra-small chip and low-power measurement algorithm. It minimizes factors that interfere with sleep tests and provides the collected sleep diagnostic data to medical professionals.

The Early Startup Package is a project targeting companies within three years of establishment that possess promising startup items and technologies. Slowave received high evaluations last year in problem recognition, feasibility, growth strategy, and company composition, receiving up to 100 million KRW in commercialization funds and support for infrastructure, investment, and technology demonstration for nine months.

Slowave, together with the Korea University Startup Support Group, the supervising institution, has advanced its brainwave measurement and analysis technology over the past nine months. As a result, it expanded the diagnostic scope from sleep to mental disorders and produced substantial research outcomes, gaining recognition for its expertise and technological capabilities, and was selected as the top company awarded only to the top 10% of participating businesses.

Taking this project as an opportunity, Slowave plans to develop and commercialize medical devices that can predict the likelihood of mental illness based on brainwaves, aiming to reduce the waste of human and material medical resources through preventive measures.

Ryu Kyungho, CEO of Slowave, said, "We will introduce devices and services that help provide clear diagnoses in the mental health field, offering practical assistance to patients and establishing ourselves as an essential company in the medical community."

Meanwhile, Slowave passed the Ministry of SMEs and Startups' Deep Tech TIPS fast track in November last year with the support of its seed investor, the global accelerator SparkLabs, and was previously selected as an excellent company and star company in the 12th Kibo Venture Camp.