National Institute for Korean Medicine Development Successfully Concludes 'K-Medicine Startup Week'

Prospective Entrepreneurs and Promising Companies in Korean Medicine Participate
Supporting Growth Through IR Presentations and Investment Consulting

The National Institute for Korean Medicine Development (Acting President Song Sujin) held the 'K-Medicine Startup Week' on November 5 at COEX Startup Branch in Seoul to support the growth of prospective entrepreneurs and promising companies that will lead the future of the Korean medicine industry.

This event was organized to promote startups based on Korean medicine and to provide promising companies with opportunities to attract investment. It featured a business competition-style investor relations (IR) presentation, an awards ceremony, and investment consulting sessions.

Winners of the Korean Medicine Jump-Up Mock IR Presentation Category

In the 'Korean Medicine Jump-Up Mock IR Presentation,' five teams preparing to launch startups showcased a range of ideas, including customized services for Korean medicine doctors, AI-based medical automation systems, personalized protein products for the elderly, and herbal foot bath products.

In the subsequent 'Investment Capability Exchange IR Presentation' for small and medium-sized enterprises, four companies-Bichedam Co., Ltd., Team Elysium, Primo Biotech, and Benature Biolab-introduced their products and technological capabilities.

After the IR presentations, a panel of seven judges-comprising five investment experts and two Korean medicine experts-conducted a comprehensive evaluation of the teams, assessing technical excellence, innovation in business models, growth potential, technological merit, and public value.

As a result of the evaluation, the grand prize in the Korean Medicine Jump-Up Mock IR Presentation category (Minister of Health and Welfare Award, prize money of 1 million won) was awarded to the 'Hanitech' team, which presented an AI voice recognition-based medical workflow automation solution. The Excellence Award (President of the National Institute for Korean Medicine Development Award, prize money of 700,000 won) and the Outstanding Award (President of the National Institute for Korean Medicine Development Award, prize money of 300,000 won) went to the 'Hani Resource' team and the 'Haechi' team, respectively.

The Encouragement Award (President of the National Institute for Korean Medicine Development Award) was presented to the 'Recommended Herbal Medicine' team and the 'Full & Dream' team.

In the Investment Capability Exchange IR Presentation, the 'Primo Biotech' team, which developed 'Mecasin,' a natural medicine for the treatment of degenerative brain diseases, received the Minister of Health and Welfare Award.

Meanwhile, the event also featured specialized investment consulting and exchange and cooperation programs to support the practical growth of Korean medicine companies, attracting significant interest and positive responses from participants.

Song Sujin, Acting President, stated, "I hope this event will serve as an opportunity to discover new growth engines for the Korean medicine industry and enable prospective entrepreneurs and companies to grow together." She added, "The National Institute for Korean Medicine Development will continue to actively strengthen the startup and investment environment for Korean medicine companies and enhance the industry's competitiveness."