20th Golden Seed Challenge underway | Photo by Korea Biotechnology Industry Organization
Korea Biotechnology Industry Organization (Korea BIO), with support from the Ministry of Trade, Industry and Energy, held the “20th Golden Seed Challenge” on October 22 in collaboration with the New Industry Organization for Investment. This event targeted bio healthcare startups seeking seed to Series A funding rounds.
The event focused on investor presentations and networking with domestic bio-specialized venture capital firms. Seven promising startups selected for investor presentations received pre-event mentoring to improve their chances of securing funding.
Presenting startups included:
- NeortesBio (Developing biopharmaceuticals for retinal disease, solid tumors, kidney disease, and age-related diseases)
- LiFlex Science (Developing ASO-based, first-in-class regenerative osteoarthritis treatment)
- ReadyCure (Creating AI-based digital X-ray medical devices)
- Luple (Offering tailored phototherapy for circadian rhythm care)
- Medicaretec (Developing surgical and therapeutic medical devices)
- Bioxonics (Creating an Alzheimer’s diagnostic system)
- UMTR (Specializing in domestic biofilter membrane technology)
Leading bio-focused investors, including DAYLI Partners, Mirae Asset Capital, Bluepoint Partners, Smilegate Investment, UTC Investment, ESInvestor, Clairvoyant Ventures, Kiwoom Investment, SunUp Investment, and CKD Venture Capital, attended the event.
Kwang-min Shin, Head of Industrial Development at Korea BIO, stated, “We will continue to strengthen investment attraction capabilities for bio companies and provide investment opportunities to foster a thriving ecosystem. We will focus on helping early-stage bio companies connect with investors and access resources.”
Korea BIO holds biannual investment presentations, categorized by investment rounds, to help bio companies secure private funding.
Pangyo Techno Valley is a global integrated R&D hub focused on IT, BT, CT, and NT, integrating Research (R), People (P), Information (I), and Trade (T). As Gyeonggi-do’s representative innovation cluster, Pangyo Techno Valley was established to secure national new growth drivers such as technological innovation, human resource development, job creation, and enhancing international business competitiveness. As of 2023, 1,666 companies employ 78,751 people, and it has positioned itself as the most innovative hub in South Korea, with sales amounting to 167.7 trillion KRW (125.5 billion USD).
Furthermore, the Techno Valley Innovation Division of the Gyeonggi-do Business & Science Accelerator (GBSA) holds monthly events such as the Pangyo Evening Meet-Up, Pan-Pan Day, and the Pangyo Startup Investment Exchange “In-Best Pangyo” to maximize the value of Pangyo Techno Valley. They also support the Pangyo Overseas Promotion Program to publicize information about Pangyo’s companies, products, and services to domestic and foreign investors and the media, thereby facilitating foreign investment.
