Innovate UK’s Global Business Innovation Programme (GBIP), delivered by Enterprise Europe Network (EEN), is organising a visit to South Korea for up to 15 digital health SMEs with emerging technologies in this field.

Successful companies will be fully funded and supported through a structured programme of support  consisting of a preparation phase in the UK, a 5 day tailored programme of activities in South Korea with the opportunity to visit South Korean medical centres, medical clusters, meet with digital health companies and attend Korean International Medical & Hospital Equipment Show (KIMES) with the aim of creating opportunities for technology collaboration. Delegates will benefit from follow up advisory support to help develop relationships South Korean partners.

Why South Korea?

South Korea is the 11th largest global economy and one of the most technologically advanced countries in the world. Its digital health market is rapidly growing: valued at GBP 2.4bn in 2015, it is  expected to almost double by 2020 with a forecast market value of GBP 4.4bn.

The South Korean healthcare system supports a population of 51.5 million people through a publicly funded, national healthcare insurance system. With a rapidly ageing population, an increase in chronic illness and rising medical expenses the South Korean government, through its new innovation policy agenda, is seeking to harness its advanced ICT infrastructure by exploiting the benefit of digital  health technologies.

With access to the populations data sets the big 5 Seoul based medical centres are using big data and AI to develop new platforms, devices and solutions and are keen to adopt cutting edge technologies to achieve competitive advantage.

With current R&D innovation strategy focussing greater investment into SMEs and international collaborating and UK-SK bilateral funding opportunities this is a market which offers significant opportunity for UK SMEs developing digital health technologies.

Focus Areas:

  • cancer
  • heart disease
  • cerebrovascular diseases
  • ageing population

Key Opportunities:

  • Diagnostics: image recognition, symptoms checkers, risk stratification
  • Knowledge generation: drug discovery, pattern recognition, increased understanding of causality
  • System efficiency: optimisation of care pathways, prediction of ‘Do Not Attends’ identification of staffing requirements
  • P4 medicine: prediction of deterioration, personalised treatments, preventative advice

Benefits of the programme

Business representatives will work with a designated account manager and advisor to support a structured programme encompassing three main phases:

  • Getting ready for the market: Pre-visit and in-country briefings providing market information, advice on how to do business in South Korea, training on how to improve your pitch and articulate your value proposition and how to protect your IP.
  • Visiting the market: Exclusive access to the South Korean digital health market and the opportunity to meet key companies and research organisations. Targeted, pre-arranged meetings at organised matchmaking events. Business profile in the visit brochure, translated and distributed in South Korea.
  • Exploiting the opportunity: A post visit workshop and tailored support with a specialist innovation / internationalisation advisor to develop a market exploitation strategy

To find out more about this programme please follow the link provided on the right hand side.