220614 13 Korean Medicine Companies Selected to Receive Up to KRW 100 Million in Technical Support

KIOM Selects Projects for Korean Medicine Industry Advancement Program
Supporting Industry Growth through Customized Product Development

The Korea Institute for Advancement of Korean Medicine (KIOM, President Chang-hyun Jung; hereinafter referred to as “KIOM”) announced on the 14th that a total of 13 companies—including Dongje Medical Co., Ltd., Bonplus, FCU Co., Ltd., and Pohang Bio Park—were selected through the call for proposals for the “Advanced Support Program for the Korean Medicine Industry,” which provides up to KRW 100 million per project (with a private sector contribution of 10–50%).

Now in its second year following last year’s launch, the program has significantly expanded its support areas to enable broader participation by companies, reflecting convergence between Korean medicine and other industries as well as region-specific strategic industries led by local governments. In addition, policy support for product development has been strengthened by combining KIOM’s internal capabilities with technical assistance from external specialized institutions.

KIOM decided to provide support based on comprehensive and objective evaluations by external experts, assessing factors such as the feasibility of technical support, the commercial potential of the products, and the suitability of the applicant institutions. The decision applies to companies that submitted applications between March 18 and April 13, and includes the following projects: △ 4 herbal medicine formulation projects
△ 5 Korean medicine medical device projects
△ 2 Korean medicine convergence projects
△ 2 new material projects utilizing herbal resources

The selected companies include region-based enterprises located in Daegu Metropolitan City and Gyeongsangbuk-do, as well as pharmaceutical and startup (venture) companies from across the country. Following the conclusion of final mutual agreements, support will be provided within this year.

The selected companies are as follows: △ Dongje Medical Co., Ltd. △ Medipresso Co., Ltd. △ Bonplus △ B-Nature Biolab △ BICHEDAM Co., Ltd. △ B2Lab Co., Ltd. △ HN Novatech Co., Ltd. △ FCU Co., Ltd. △ Optowell Co., Ltd. △ KobiBio Co., Ltd. △ Pohang Bio Park △ Han Nature △ Human Herb Co., Ltd.

President Chang-hyun Jung stated, “By actively leveraging the research achievements, infrastructure, and outstanding human resources accumulated over the years, we will spare no effort in supporting the development and commercialization of new technologies and products by Korean medicine–related companies.”

Source : https://www.akomnews.com/bbs/board.php?bo_table=news&wr_id=49485