220616 KIOM Supports New Technology Development for 13 Korean Medicine Companies and Institutions

Call for Proposals for Korean Medicine Industry Advancement Support
Dongje Medical, Bonplus, and Others Selected
Up to KRW 100 Million per Project to Be Provided Within the Year

The Korea Institute for Advancement of Korean Medicine (KIOM) is launching support for Korean medicine companies and hospitals that face difficulties in developing and commercializing new products and technologies despite possessing innovative ideas.

According to KIOM on the 16th, a recent call for proposals under the “Advanced Support Program for the Korean Medicine Industry” resulted in the final selection of a total of 13 companies and institutions, including Pohang Bio Park, Dongje Medical Co., Ltd., Bonplus, and FCU Co., Ltd.

The selected entities include a total of 13 companies and institutions: 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, and Human Herb Co., Ltd.

Previously, KIOM conducted evaluations of companies that applied for the call for proposals between March and April, assessing factors such as the feasibility of technical support and the commercial potential of the products. Based on the results, KIOM decided to support △ 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 pharmaceutical and startup (venture) companies from Daegu and Gyeongsangbuk-do, as well as from across the country.

Following the conclusion of final mutual agreements, KIOM plans to provide support of up to KRW 100 million per project (with a private sector contribution of 10–50%) within this year.

President Chang-hyun Jung of KIOM stated, “By actively leveraging the research achievements, infrastructure, and outstanding research personnel accumulated over the years, we will spare no effort in supporting the development of new technologies and products by Korean medicine–related companies, as well as their advancement toward industrialization.”

Source: https://www.hidomin.com/news/articleView.html?idxno=486702