Digital therapeutics (DTx) startup Beltherapeutics announced on the 17th that it has been finally selected for the ‘Deep Tech TIPS,’ a private investment-led technology startup support program by the Ministry of SMEs and Startups.
Deep Tech TIPS is a major project by the Ministry of SMEs and Startups aimed at selecting and nurturing promising startups in 10 ultra-gap fields. Selected companies receive up to 1.7 billion KRW in commercialization and overseas marketing funds, including 1.5 billion KRW for research and development (R&D). Beltherapeutics was finally selected as a Deep Tech TIPS supported company in the bio-health field among the 10 ultra-gap sectors through the recommendation of Spring Camp, a venture capital (VC) affiliated with Naver, after receiving investment from Spring Camp in June.
Beltherapeutics is developing DTx for insomnia and cochlear implant hearing rehabilitation. This Deep Tech TIPS selection focuses on Beltherapeutics’ development of DTx technology for insomnia patients. Unlike existing cognitive behavioral therapy (CBT)-based DTx, it was highly evaluated as a next-generation technology that collects patients’ biosignals and provides real-time generated sound feedback to improve insomnia symptoms.
Jae-eun Lee, CEO of Beltherapeutics, said, "Being selected for Deep Tech TIPS will greatly help realize Beltherapeutics’ R&D vision and goals," adding, "We will continue to strengthen our competitiveness in the global market through ongoing innovation and growth."
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