Program Operation Performance
Lab-based Startup Audition Program E*5 LabStartup!
Newly established this year, E*5 LabStartup is a lab-based startup audition program, similar to E*5 KAIST, for intensive development and support of laboratory research-based items. In May, a total of 15 teams applied, and only three teams with high potential for commercialization of research-based items were selected and supported.
Supported by the Best Experts!
E*5 LabStartup provides one-to-one mentoring by advisory professors (AP) and external experts. Rather than having pre-determined mentors, E*5 LabStartup scouts experts by considering the item and characteristics of selected teams, thus providing customized support for individual teams.
Business Development through Individual Missions
Another distinction of E*5 LabStartup is that teams set individual mission topics to develop their business. In the 1st mission, teams choose their mission topic through individual mentoring with their mentors. In the 2nd mission, teams present their progress results of the 1st mission and validate their business ideas. At this stage, some teams may go through pivots. In the final mission, teams develop their business model and examine investment potential through a mock IR to external investors.
Who are the Final 3 Teams?
We now introduce which teams participated and received the above-mentioned support, as well as their achievements.
The first team is TOVDATA, a startup that develops a regulatory compliance solution to help utilize data that complies with the Data 3 Act. TOVDATA established their business this year and successfully attracted outside investment as well as being selected in the TIPS program.
The second team is Spidercore, a startup providing a digital biomarker integrated data platform who also went through the pivot process. This year, Spidercore established its corporation, and successfully signed supply contracts with foreign companies.
The last team is Aldaver, a company developing realistic surgical training artificial cadavers with artificial blood vessels. Aldaver is developing the business through partnering with Severance Hospital and winning various startup competitions. As a result, Aldaver will establish its corporation early next year.
As a result of the final mission evaluation, Aldaver, Spidercore, and TOVDATA won the E*5 LabStartup. However, other teams have also achieved successful business results and we are looking forward to the future of all teams. Although most of the program was held online due to COVID-19, many investors are showing interest in participating teams and following individual contacts.