The global technology startup landscape is highly competitive and only the best survives. With millions of startups launching every year, it’s becoming increasing difficult for startups around the world to get the exposure and funding they need to execute their ideas. The problem is further compounded for tech startups outside the Europe and the United States. For South Korean tech startups, KIC-FedTech Accelerator is a program helping to give visibility and support to the most promising Korean entrepreneurs looking to launch their businesses in the U.S. and achieve their strategic goals. This cohort features companies in healthcare, security, drone technology, and blockchain.
The KIC-FedTech Accelerator held a Pitch Day on October 3, 2019, that brought together 13 companies that have been selected to undergo the prestigious accelerator curated by FedTech for the Korea Innovation Center in Washington DC. The pitch is the final phase of the accelerator program in which the startups put their newly acquired skills and knowledge to the test by pitching to active & accredited investors and stakeholders.
The event was hosted by the Korea Innovation Center (KIC) which is the Korean government-backed technology innovation center in Washington D.C. The event featured a pitching competition in which the best presenter was selected by a panel of judges. The winner of the competition was Tony Kim, CEO of Corners Co., Ltd. Judges from the panel included Christopher Schroeder, entrepreneur, investor, and bestselling author, as well as Alicia Fuller, from Silicon Valley Bank who overseas partnerships with emerging startups in the DC area.
The 2-week accelerator program was designed for 13 of the leading Korean tech companies, carefully picked from a pool of startups in Korea considered to have the most potential for US market expansion. Through this KIC technology accelerator program the Korean tech entrepreneurs learned from industrial experts, mentors and government officials on how to successfully launch their product into the U.S. and secure funding. This event focused on companies in healthcare, security, drone technology, and blockchain.
The 13 participating companies were:
1. Aevis Bio: A breast cancer therapeutic based on Targeted Proteolysis Inducer (TAPI)
2. BlueWaveTel: Solutions in wireless telecommunication and broadcasting field
3. Corners: Safety Intelligence Solution that combines IoT (Artificial intelligence of things) and on-time space intelligence service
4. Cardiocoin: The first preventive healthcare blockchain platform
5. Cruxell: A dental PSP scanner specialized in high quality dental x-ray image systems
6. ETL: Radar absorbing paint with multiple core evaluation results
7. Frasen: Personalized sleep care service that combines the latest in sleep science, internet of things (IoT), and software
8. IM Technology: Affordable and eco-friendly way of metalizing super engineering plastics
9. MediFutures: Ultrasonic and biological fusion medical solutions for aesthetics and surgical applications
10. Narma: Tilt-rotor type hybrid drone VTOL (Multi-copter Drone) & High Speed Flight(Fixed-wing UAV)
11. OSD(ONESOFTDIGM): A portable bio impedance analyzer that provides on-demand customized healthcare
12. Secuworks: Home and building security sensors using sound field spectrum with no blind spots, late detection or false alarms.
13. Welt: A smart belt that analyzes various health information to prevent central obesity
“KIC strives to be a bridge between Korean startups and the North East US market. Through our hardworking community of KIC members, mentors, investors and partners such as FedTech, I believe we have successfully created an epicenter of cross-cultural business alliance, and we hope to continue to grow and bring innovative technologies into the US market.” -Jung Moon, Director General of Korea Innovation Center
KIC Washington is a Korean government supported organization under the Ministry of Science and ICT that specializes in facilitating connections and expansion to the U.S. market for Korean tech startups. Over the past five years, The KIC Washington branch has helped over 500 Korean startups achieve growth in Korea and the United States.
