This year, South Korea’s most promising early-stage healthcare and sports startups have taken bold steps towards international growth through the 2024 Global Market Expansion Program (GMEP). Run over an intensive 12-week accelerator, 15 innovative startups tackled a three-phase program meticulously designed to get them ready for success on the world stage, starting with Singapore.
The GMEP, spearheaded by the Korea Institute of Startup and Entrepreneurship Development (KISED), the Korea Sports Promotion Foundation (KSPO), and VentureBlick, offers critical connections, hands-on mentorship, and strategic insights that prepare Korean startups for global markets. Here’s an inside look at what these startups accomplished during the program:
Meet the Startups
Each startup brings something unique, addressing specific needs in healthcare and sports technology with forward-thinking approaches. Here’s a snapshot of the startups that participated in GMEP 2024:
D’Bridge: A platform for doctors in dentistry and aesthetics to collaborate for training and medical education across borders
DF World: Smart grounding technologies aimed at improving sleep quality and overall well-being
D&U: Magnetic clipless bicycle pedals aimed at improving comfort and performance for cyclists
Initcare: A data-driven mental health platform for practice management and clinical decision support for psychotherapy
Injewelme: A platform for child and adolescent mental health monitoring, prediction, and early intervention through gamification
MEDIAIPLUS: A platform to matchmake Contract Research Organizations to optimize clinical trial effectiveness
Molim: Advanced nuclear medicine technologies for drug development, streamlining the process of bringing new medications to market
Moty: A novel cable-based smart exercise machine designed to enhance athletic performance through targeted training methods
OLDAM: Medical-grade silicon menstrual cups for changing habits in the post-pandemic world
OnJourney: An integrated platform for diabetes management through nutrition and insulin control
REMO: An AI-powered 3D body and biomechanics analysis platform that checks for 9 different body imbalances
StemExOne: Stem cell culture and exosome-based therapeutics for regenerative medicine
Woodang Network: An AI-powered platform called Haedeup for personalized skincare including product recommendations
Youngand: An AI-driven solution focused on the prevention, detection, and management of dementia in the elderly.
76soft: A game and tournament management platform for badminton and other racket games for better sports management
Orientation session in Korea at the start of the program
The Journey of a Lifetime: From Seoul to Singapore
The GMEP unfolded over three distinct phases:
Phase 1 – Laying the Foundation in South Korea (5 weeks)
Startups worked on refining their goals, gaining insights from global experts from the VB Advisory Network, and receiving tailored guidance on reaching international markets. This included custom reports assessing their clinical and commercial viability and guidance on their fundraising goals and clinical workflows, sharpening their strategies for success.
Each startup was paired with experienced mentors, including experts like Dr Kailash Jialdasani, Head of South Asia Operation at VentureBlick; Kay Joest, Head of Europe Operations at VentureBlick; and Kevin Yeo, Head of Korea Operations at VentureBlick, who each bring 20+ years in healthcare across key markets. This phase set the stage for focused development, providing startups with the clarity and confidence they needed to move forward.
Kevin Yeo, Head of Korea Operations, VentureBlick, sharing program details with the startups
Phase 2 – Market Immersion in Singapore (6 weeks)
Arriving in Singapore, the startups immersed themselves in a rich ecosystem of workshops, networking events, and more than 30 meetings with local stakeholders and institutions. In this phase they not only gained insights that set the stage for impactful market entry, but also had multiple opportunities to pitch their innovations in different settings.
The Korean Startup Centre played a pivotal role in this phase, providing an overview of the local business landscape and helping startups understand critical market dynamics unique to Singapore. This knowledge became the foundation on which these innovative teams could strategically build.
The startups were invited to Synapxe’s HealthX Startup Day, where they had the chance to hear Singapore startups pitch their ideas. MedTech Catapult complemented these efforts by offering an introduction to its critical engineering support, regulatory guidance, and even funding pathways to expedite commercialization – a valuable asset for scaling operations effectively.
Learning about distribution and 4PL services at SPD Scientific
Exploring further, IPI Singapore shared about the support available to startups to tap into a global network for technology co-development and partnerships that open doors to solving complex innovation challenges. Likewise, SG Innovate provided a thorough overview of local talent placement support and funding options, while SPD Scientific deep dived into its distribution and fourth-party logistics (4PL) services for laboratory equipment and diagnostics.
Further strategic insights came from L.E.K. Consulting, whose advisors offered insights on partnerships, commercialization, and distribution frameworks for long-term success.
Dr Andrew Chou’s clinical strategy workshop
SingHealth Polyclinics provided the startups an insight into one of Singapore’s key healthcare clusters and potential collaboration opportunities. Dr. Andrew Chou, an orthopedic surgeon, also lent his expertise in a workshop on clinical trial strategy, advising startups on the nuances of clinical engagement.
Innovation in product design was supported by Innovation Factory, which offered insights into design thinking and user-centered design, prototyping resources, and advice on streamlining product development.
The session, ‘Navigating the Singapore Healthcare Ecosystem’, brought startups together with JLABS, the National Healthcare Group’s Centre for Medical Technologies & Innovations (CMTi), and Co11ab Novena. Startups gained invaluable access to JLABS' expansive life sciences network and specialized resources tailored to healthcare innovation. Through CMTi, startups connected with clinicians to facilitate clinical pilot studies, a critical step toward market validation and real-world application. Additionally, Co11ab showcased its cutting-edge lab spaces, providing startups with essential resources for hands-on development within a dedicated healthcare innovation hub.
In sports tech, Sport Singapore and Kallang Alive Sport Management provided an overview of the Singapore sport ecosystem and how startups could collaborate to pilot test their health innovations, integrating their solutions into public health initiatives such as Active Health Labs, Healthier SG, and AgeWell SG.
Finally, the startups participated in Global Sports Innovation Centre (GSIC)’s Sports Innovation Day, where they met key partners from the fitness industry including Singapore Fitness Alliance and True Group, one of Asia’s largest fitness and wellness groups.
Getting to know Singapore’s sports ecosystem
Each of these meetings provided invaluable networking opportunities for startups to explore how their innovations can drive change in healthcare, fitness, and wellness in Singapore and beyond.
The program featured five practical workshops that proved invaluable in preparing startups for real-world challenges in business growth and expansion. These sessions covered critical topics: fundraising strategies to help startups secure investments, pitch marketing to refine their storytelling and communication, LinkedIn optimization to enhance their international presence and networking, commercialization pathways to navigate market entry effectively, and clinical trial strategy to guide them through regulatory and scientific hurdles. Each workshop offered hands-on advice and expert insights, empowering the startups to build robust strategies, connect with key players, and sharpen the skills essential for their global journey.
Individual pitch marketing coaching and critique
A standout feature of the program was the personalized 1-on-1 consultation sessions with Chris Lee, the founder and CEO of VentureBlick. With over 30 years of experience in the healthcare industry, Chris provided each startup with tailored advice based on his extensive knowledge of global healthcare markets. These sessions allowed startups to discuss their specific challenges, from strategic growth and regulatory navigation to market entry and investor engagement. Chris's seasoned insights and personalized guidance were instrumental in helping each team shape actionable plans for their path forward, making his mentorship a cornerstone of the program's impact.
The program culminated in the highly anticipated VentureBlick Unboxing Day, where all 15 startups pitched to a room full of investors, clinicians, and industry experts. MEDIAPLUS emerged as the Best Pitch winner for Judges’ Choice and DF World for People’s Choice.
Seohee Kim from MEDIAIPLUS during Q&A at VentureBlick Unboxing Day
The top five startups earned additional pitch time at an international webinar, extending their reach to Europe and the rest of Asia.
The startups also had the spotlight at VentureBlick’s pavilion during SWITCH 2024, Singapore’s premier tech festival and a major hub for the Global-Asia innovation ecosystem. Held at Marina Bay Sands Expo and Convention Centre, SWITCH attracts over 15,000 attendees across three days, offering startups a high-profile platform to showcase their cutting-edge innovations. This opportunity allowed the startups to connect directly with investors, industry leaders, and potential partners, amplifying their visibility and positioning them for success in global markets.
Showcasing their innovations at VentureBlick’s pavilion at the Singapore Week of Innovation and Technology (SWITCH) 2024
Phase 3 – Wrap up in Korea (1 week)
Finally, the last week in Korea was dedicated to performance sharing sessions, which facilitated follow-up networking opportunities to potential partners and investors.
What Startups Had to Say
The startups’ feedback reveals how impactful this program has been:
Martin Seo, Chief Business Development Officer at Youngand: “SingHealth Polyclinics emerged as a potential partner for our AI cognitive decline prevention tool. They are our most promising collaboration opportunity in Singapore. I’m grateful to VentureBlick for organizing numerous meetings, which led me to extend my stay by a month to explore even more opportunities.”
Hayoung (Lina) Ahn, Founder & CEO at D’Bridge: “The introduction to Singapore's startup ecosystem, including government bodies and hospital collaborations, was incredibly beneficial. It was surprising to see how supportive everyone is, not just VentureBlick, but all stakeholders. The guidance on pitch preparation was the most practical support I’ve ever received. My initial business plans for Singapore have changed significantly since arriving. I’m now developing a new strategy to enter the market and explore opportunities in neighboring countries. I've already identified potential partnerships with doctors and government bodies. KSPO and VentureBlick have been crucial for us; navigating the business landscape alone would have been much harder. Their support has allowed us to quickly identify opportunities across Asia.”
Gowoon Jo, Marketing Executive at Woodang Network: “What really helped us was that VentureBlick analyzed the Singapore market for us and gave us a clear guideline on how to enter the market, it was really helpful. They also taught us how to present effectively and how to communicate our message clearly. Since they explained things from a third-party perspective, it gave us a more objective benchmark.”
A Word from Our Partner
Sujin Hyun, Assistant Manager at KSPO, shared her gratitude: “I extend my appreciation to the VentureBlick team for the successful execution of the GMEP program. This year, healthcare and sports companies from Korea made their first strides into the Asian market with VentureBlick's support. Through GMEP, 15 companies gained invaluable experience, setting the stage for even broader global expansion. KSPO is excited to continue supporting these companies on their journey to new international markets.”
Looking Ahead: Supporting Innovation in Asia and Beyond
The GMEP has not only given South Korea’s healthcare and sports startups a strong start but has also equipped them with practical skills, mentorship, and valuable partnerships that are key to succeeding internationally. KSPO and VentureBlick have played a big part in making this happen, and their support for these startups is set to keep growing.
As these startups take their next steps in healthcare and sports on a global scale, we invite investors and industry leaders to connect with them. Each of these companies is well-prepared to make a real difference, with the skills, insights, and support needed to succeed internationally. Their future is bright, and the potential impact on healthcare and sports is inspiring.
15 Korean startups pitched to a room full of investors, clinicians, and industry experts at the VentureBlick Unboxing Day (demo day)
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