Busan Tech Holdings’ Achievements in “Laboratory Technology Commercialization”
Laser Medical Technology Developer ‘TECURE’
Selected for Deep Tech TIPS… Secured 1.5 Billion KRW
Close Support Including Global Expansion Strategy
First Nationwide 1 Billion KRW Startup Fund Established
TECURE researchers and advisors verify laser treatment technology through animal testing. Courtesy of TECURE.
Busan Tech Holdings (BUH) is achieving tangible results in commercializing university laboratory technologies. Its “two-track” strategy—early-stage funding combined with government support programs—has proven effective. The focus on enhancing technological maturity in early-stage startups has been particularly impactful. Based on these results, the city of Busan plans to develop a new model for university technology startups.
According to BUH on the 5th, one of its portfolio companies, TECURE (CEO Hyunwook Kang), was recently selected for Deep Tech TIPS, a program supporting startups in Korea’s “Top 10 Ultra-Gap Fields.” TECURE secured 1.5 billion KRW in R&D funding. Founded by Professor Kang of Pukyong National University’s Department of Biomedical Engineering, TECURE developed technology that emits laser light in 360 degrees rather than only forward. When applied to endoscopy, this technology enables precise removal of duodenal mucosa, opening a new horizon for diabetes treatment.
BUH also supported the commercialization of paper-based technologies and prepared global expansion strategies in collaboration with institutions such as Stanford University. BUH staff even participated directly in the two-stage Deep Tech TIPS selection process (technical and market evaluations), providing close support that was credited as a driving factor for TECURE’s selection.
In total, BUH has led 26 TIPS-linked projects worth 12.81 billion KRW. TIPS is a government–private sector program that provides up to 500 million KRW in R&D funding to technology startups. One BUH portfolio company, Share&Service, recently became the fourth Korean company to pass clinical trials in the digital therapeutics field.
Among BUH’s portfolio companies, five have appointed IPO underwriters, and two have successfully completed M&A deals. A bio company was acquired by a domestic conglomerate affiliate, while an AI startup was sold to a mid-sized manufacturing company in Gyeongnam. The bio company deal was valued at several hundred billion KRW, injecting fresh momentum into the regional startup ecosystem.
A BUH official stated, “We expect to see IPOs as early as the second half of next year, as several portfolio companies are showing excellent performance in both technological capability and business indicators.”
The results are evident in numbers: from 2016 to last year, BUH invested 16.7 billion KRW in 99 companies. Over the same period, the revenue of its portfolio companies soared more than 12-fold, from 7.6 billion KRW to 94.1 billion KRW. Growth in the bio and IT sectors has been particularly strong.
Busan City is moving to strengthen the regional startup ecosystem based on BUH’s achievements. Starting next year, BUH will serve as a core innovation model in the Regional Innovation-led University Support System (RISE). The city also plans to create the nation’s first 1 billion KRW university technology commercialization support fund, which will be linked with the Ministry of Education’s University Startup Fund to maximize synergy.
A Busan City official explained, “Until now, local governments faced structural barriers to supporting tech-holding companies. By creating a dedicated fund, we are establishing a new system to maximize BUH’s capabilities.”
Busan = Reporter Geontae Min (minkt@hankyung.com)
Source: Korea Economic Daily
Busan Tech Holdings’ Achievements in “Laboratory Technology Commercialization”
Laser Medical Technology Developer ‘TECURE’
Selected for Deep Tech TIPS… Secured 1.5 Billion KRW
Close Support Including Global Expansion Strategy
First Nationwide 1 Billion KRW Startup Fund Established
TECURE researchers and advisors verify laser treatment technology through animal testing. Courtesy of TECURE.
Busan Tech Holdings (BUH) is achieving tangible results in commercializing university laboratory technologies. Its “two-track” strategy—early-stage funding combined with government support programs—has proven effective. The focus on enhancing technological maturity in early-stage startups has been particularly impactful. Based on these results, the city of Busan plans to develop a new model for university technology startups.
According to BUH on the 5th, one of its portfolio companies, TECURE (CEO Hyunwook Kang), was recently selected for Deep Tech TIPS, a program supporting startups in Korea’s “Top 10 Ultra-Gap Fields.” TECURE secured 1.5 billion KRW in R&D funding. Founded by Professor Kang of Pukyong National University’s Department of Biomedical Engineering, TECURE developed technology that emits laser light in 360 degrees rather than only forward. When applied to endoscopy, this technology enables precise removal of duodenal mucosa, opening a new horizon for diabetes treatment.
BUH also supported the commercialization of paper-based technologies and prepared global expansion strategies in collaboration with institutions such as Stanford University. BUH staff even participated directly in the two-stage Deep Tech TIPS selection process (technical and market evaluations), providing close support that was credited as a driving factor for TECURE’s selection.
In total, BUH has led 26 TIPS-linked projects worth 12.81 billion KRW. TIPS is a government–private sector program that provides up to 500 million KRW in R&D funding to technology startups. One BUH portfolio company, Share&Service, recently became the fourth Korean company to pass clinical trials in the digital therapeutics field.
Among BUH’s portfolio companies, five have appointed IPO underwriters, and two have successfully completed M&A deals. A bio company was acquired by a domestic conglomerate affiliate, while an AI startup was sold to a mid-sized manufacturing company in Gyeongnam. The bio company deal was valued at several hundred billion KRW, injecting fresh momentum into the regional startup ecosystem.
A BUH official stated, “We expect to see IPOs as early as the second half of next year, as several portfolio companies are showing excellent performance in both technological capability and business indicators.”
The results are evident in numbers: from 2016 to last year, BUH invested 16.7 billion KRW in 99 companies. Over the same period, the revenue of its portfolio companies soared more than 12-fold, from 7.6 billion KRW to 94.1 billion KRW. Growth in the bio and IT sectors has been particularly strong.
Busan City is moving to strengthen the regional startup ecosystem based on BUH’s achievements. Starting next year, BUH will serve as a core innovation model in the Regional Innovation-led University Support System (RISE). The city also plans to create the nation’s first 1 billion KRW university technology commercialization support fund, which will be linked with the Ministry of Education’s University Startup Fund to maximize synergy.
A Busan City official explained, “Until now, local governments faced structural barriers to supporting tech-holding companies. By creating a dedicated fund, we are establishing a new system to maximize BUH’s capabilities.”
Busan = Reporter Geontae Min (minkt@hankyung.com)
Source: Korea Economic Daily