After a rigorous selection process, five (5) Swiss Healthcare Startups have been selected to participate in this booster program to learn more about the Korean healthcare sector and investigate opportunities for partnerships and collaboration.
For many businesses, Korea is a great hub for further expansion. The country has a highly educated workforce, strong expertise in manufacturing, and a highly urbanized population that is very open to technical innovation. This has given rise to a vibrant and growing local startup ecosystem.
The local healthcare system is a leader in robotics and robotic surgery. The system is extremely cost effective and records are digitized. The government has also announced a plan for 18 smart hospitals by 2025, utilizing the country's 5G network (the world's fastest) and will distribute IoT sensors, AI speakers, and wearables to those at high risk.
The country is, however, highly reliant on international innovation and advancements. Once those advancements are made, Korea excels in utilizing the new technology to its fullest, but the country's system and regulations restrict clinical trials and innovation. Until change was forced by the COVID-19 crisis, telemedicine was not permitted. It still remains to be seen what regulations and restrictions will be placed on telemedicine when it is formally adopted.
All of this is a conscious choice by the government to focus on welfare and maintenance of good health rather than advancement of industry. Reimbursements from the National Health Insurance Service are low and regulations regarding for new, emergent technologies are created at a snail's pace.
The government's recognition of this problem, as evidenced by the smart hospital announcement and the advancements and emergency approvals necessitated by COVID-19, has created an environment poised for change waiting for companies to push the industry forward.
The program will run from July 30th through November 12th.
All session will be online via Zoom.
|July 30||Session 1: Program Introduction|
|Aug 13||Session 2: Outreach for Business Development|
|Aug 14- Oct 15||Professional Outreach|
|Oct TBD||Korea Visit|
|Nov 12||Session 3: Meeting Follow-ups|