ActnerLab Program Recap

The NEMIC Foundation has just wrapped up another program with one of our earliest global partners, ActnerLab. Located in South Korea, ActnerLab is a business incubator and entrepreneurship education hub for Korean hardware startups with the goal of international expansion. The ActnerLab team works with companies in development stages with technologies falling into industry sectors of biomedical/healthcare, AI, IoT, and wearables. They provide their accepted startups with investment, mentoring in product commercialization, intensive training courses from Korean and foreign professional experts, as well as prototype manufacturing resources. 

Since 2017, the NEMIC Foundation has been one of ActnerLab’s primary US partners. We provide ActnerLab’s healthcare startups with valuable education on the commercialization process, regulatory pathways, and market access here in the United States. In the past, the NEMIC Foundation has supported ActnerLab startups through partnerships, providing connections to funding, company visits, mentor matching, and an accelerator program. 

Throughout February, we worked with ActnerLab to deliver a rich and comprehensive program for three early-stage Korean startups looking to advance into the United States market:

• Rehappy is an integrated telemedicine healthcare system focused on shoulder rehabilitation.

• KBIO Healthcare is a chronic illness patient literacy app.

• ITDDA is a Craniomaxillofacial surgery imaging and guide system.

The NEMIC Foundation worked with the three Korean startups and the ActnerLab team to create and perfect their investor pitch decks. Pitch decks are a crucial component when searching for funding in the United States. They are the modern method for demonstrating that a business is viable, fundable, and compliant with the expectations of the investors. The main purpose of this document is to organize and explain information, articulate the unknowns, and make a case for investment. It's critical to be clear and concise; the average time to present to an investor is about three and a half minutes. Med Tech venture pitch decks benefit from a more specific structure than other industries, due to the large amounts of data and regulatory obligation that comes along with this space. 

As experts on Med Tech pitch decks, the NEMIC Foundation’s team of advisors reviewed the three startup’s original decks and gave their detailed feedback for improvements. This included building out aspects of the decks such as Financial Projections, Value Proposition, and Developmental Timeline slides. To do so, we brought in experts from our network of program partners to advise the teams in various areas of need.

• Dom Messerli, MBA, President & CEO Lenoss Medical

• Matthew Leffers, Technical Sales Director Biedermann Motech

• Prakash Sampath, Chief of Neurosurgery Roger Williams Medical Center

The program also included NEMIC’s foundational course on medical technology innovation, Med Tech 101, which covers industry segments, current opportunities and challenges, the requirements for innovation and investment trends, and much more. 

At the conclusion of the month-long program, the teams showed notable improvements from where they began. The Korean participants worked with NEMIC staff to fill in the gaps in their pitch decks and significantly expanded their knowledge of the United States Med Tech market, including the various challenges and opportunities that exist here. Each participant reported the differing areas of improvement that they experienced, which included business model establishment, market validation, and IP strategy. 

One participant said about the program: 

“It is obvious that our team is more prepared to enter the US market after the NEMIC program. By revising our slides, we could make the slides more compact to tell the most important things about our item. Also, the NEMIC program helped our team better understand the environment of digital healthcare treatment in the US”.

Our team is thrilled to see these three startups come such a long way in such a short amount of time. It's great to know that even from so far away, the NEMIC Foundation team was able to help the Korean startups get a bit closer to their goal of competing in the United States market.

Could you or your Med Tech startup use support in development? 

Reach out to the NEMIC Foundation today!