MSD Korea has partnered with the Korea Health Industry Development Institute (KHIDI) to identify promising South Korean digital healthcare and artificial intelligence startups, aiming to help them expand into global markets through MSD’s international innovation network.
The company said on Wednesday that it hosted the MSD Health Innovation Summit in Seoul with KHIDI to promote open innovation in digital healthcare and strengthen collaboration between global pharmaceutical companies and domestic technology firms.
The summit focused on how AI and digital technologies can address unmet clinical needs, particularly in oncology, cardiovascular and metabolic diseases, and infectious diseases, where MSD has significant expertise.
Eight Korean digital healthcare and AI companies participated in a startup pitching session. Judges from MSD’s Global Health Innovation Fund (GHIF), its Asia-Pacific innovation organization IDEA Studio, and Columbia University’s HITLAB evaluated the companies based on technological innovation, clinical applicability and global commercialization potential.
Four companies were selected, with three receiving commercialization grants totaling 90 million won ($60,000). The winners will also receive mentoring from MSD’s global experts and gain access to KHIDI’s overseas expansion support programs.
The event also featured a panel discussion with representatives from OpenAI Korea, Kakao Healthcare, Lunit and Samsung Medical Center, who discussed strategies for building trustworthy AI systems and accelerating the adoption of AI in clinical practice.
Albert Kim, managing director of MSD Korea, said the summit demonstrated the potential for collaboration with South Korea’s innovative AI and digital healthcare companies and reaffirmed the company’s commitment to supporting their global expansion while fostering a sustainable open innovation ecosystem.
By Wang Hae-na and Minu Kim
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