On November 13, UNIST announced that TK Medical Solutions Inc., a tech startup founded by UNIST faculty, has been chosen to participate in the TIPS (Tech Incubator Program for Startup), a teacher start-up company organized by the Ministry of SMEs and Startups. This selection has secured TK Medical Solutions Inc. a substantial business fund of 500 million won, recognizing their biochip technology.
The company’s primary objective is to provide patient-specific medical solutions by accurately predicting the individual’s internal reaction to drugs. To achieve this, they utilize biochip technology, which simulates bodily reactions on microchips. Furthermore, they employ patient sample big data analysis and artificial intelligence to enhance their capabilities.
Professor Taesung Kim (Department of Mechanical Engineering), the founder of TK Medical Solutions Inc., established the company through UNIST’s laboratory-specific start-up program. His extensive expertise in biochip technology based on microfluidic dynamics laid the foundation for this venture.
As a result of being selected for the TIPS program, TK Medical Solutions Inc. will receive a significant funding of up to 500 million won from the Ministry of SMEs and Startups over the next two years. This funding will be allocated towards research and development activities, as well as marketing expenses.
Professor Kim expressed his vision, stating, “Our aim is to create a ‘personalized optimal drug selection platform’ by integrating biochip-based precision analysis hardware technology with digital advancements like big data and artificial intelligence.”
Director Soon-Yong Kwon from UNIST’s Office of University Industry Relations highlighted the significance of this selection, stating, “Not only does this expand TK Medical Solutions’ business prospects, but it also has the potential to revolutionize the medical landscape towards personalized medicine.”
The TIPS program serves as a venture development initiative that involves collaboration between the government and private investment companies. Its purpose is to identify and support promising start-ups with strong technological capabilities. As of November 2023, UNIST has successfully produced a cumulative total of 30 TIPS-selected companies, solidifying its presence in the technology start-up sector.