UNIST Startup TK Medical Solution Selected for TIPS by Ministry of SMEs and Startups
Ulsan National Institute of Science and Technology (UNIST) technology startup company ‘TK Medical Solution’ has been finally selected for the startup program hosted by the Ministry of SMEs and Startups, securing 500 million KRW in business funds. This is a result of recognition for their biochip technology capabilities.
UNIST announced on the 13th that the faculty startup company TK Medical Solution was finally selected for TIPS (Tech Incubator Program for Startup).
TK Medical Solution is a company aiming to provide patient-customized medical solutions. It predicts patient body responses when taking drugs to find the optimal medication.
To achieve this, they use biochip technology that simulates reactions occurring inside the body on a chip, combined with patient sample big data analysis and artificial intelligence.
Professor Kim Tae-sung of UNIST founded this company in 2022 with the help of the laboratory-specialized startup leading university program. Professor Kim holds the core technology of the company, microfluidics-based biochip technology.
With this selection, TK Medical Solution will receive up to 500 million KRW from the Ministry of SMEs and Startups over the next two years for research and development and marketing expenses.
CEO Kim Tae-sung said, “We will build a ‘personalized optimal drug selection platform’ by integrating biochip-based precision analysis hardware technology with digital technologies such as big data and artificial intelligence.”
Kwon Soon-yong, head of the UNIST Industry-Academic Cooperation Foundation, said, “This TIPS selection will be an opportunity not only for the business expansion of TK Medical Solution but also for a paradigm shift in medical care toward personalized medicine.”
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TIPS is a venture fostering program where the government and private investors collaborate to select and intensively support promising startups with technological capabilities. As of November 2023, UNIST has produced a cumulative total of 30 TIPS-selected companies, achieving results in the technology startup sector.
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