https://www.businesskorea.co.kr/news/articleView.html?idxno=206201
The Incheon Creative Economy Innovation Center (hereinafter referred to as the Incheon Center) announced on the 22nd that it has achieved a customized support system for early startups through JNJ Tech.
JNJ Tech Co., Ltd. is a company that has developed 'Pharmaceutical Manager App' (APP), an automated drug recognition and preparation inspection solution using artificial intelligence (AI).
JNJ Tech, which was selected for the challenge project through a 12:1 competition ratio, received commercialization funds from the Incheon Center following education for successful start-up and mentoring experts, and also received the top prize at the Challenge Project Performance Sharing Meeting in recognition of its excellent business feasibility. Since then, it has been registered as a childcare company at the Incheon Center, laying the groundwork for attracting investment.
Since then, JNJ Tech has been finally selected for the "2023 Startup Pathfinder Project" of the Incheon Center, which finds and fosters promising startups and links them to direct investment in recognition of their growth potential once again.
Through the Pathfinder project, the Incheon Center provided professional consulting that allowed JNJ Tech to diversify its business scope from technology advancement to drug inventory management, which soon became a stepping stone to attract direct investment from the Incheon Center.
After going through this process, JNJ Tech was finally selected in October this year by TIPS, a technology start-up support program promoted by the Ministry of SMEs and Startups aimed at fostering startups with technological prowess, which allowed them to receive up to 500 million won in technology development funds from the government. After selecting TIPS, CEO Cho Sung-hoon also expressed his ambition, saying, "We will focus more on developing solutions aimed at improving the efficiency of pharmacy work in the future."
In addition, JNJ Tech has once again achieved the feat of being selected as the "2023 Global Entry Program" promoted by the Incheon Center. As it was selected for the project, it was qualified to participate in the "KIC Defy Conference 2023" held in Washington, D.C. in the U.S., and gained the opportunity to introduce excellent technologies such as the "MedicManager App" to overseas markets.
Beyond meeting with potential customers in the U.S. who want to introduce JNJ Tech technology, this became the basis for finding new partners to enter the global market and also served as an opportunity for Korean startups to enter overseas markets.
Lee Han-seop, head of the center, said, "When JNJ Tech completes research and development through the Tips program, we are planning to make follow-up investments through venture capital (VC) linkage."