Buzzpole signed a Memorandum of Understanding (MOU) with the Indonesia Center of the Korea Medical Device Association (KMDCA) for cooperation in entering the local market.

The Korea International Trade Association (Chairman Kim Young-joo) announced that it held the "2019 K-Startup Global Mentoring Program" in Jakarta, Indonesia from the 9th to the 12th.

The program, a bilateral exchange and cooperation project to promote the globalization of outstanding Korean manufacturing and tech startups, attracted significant participation from local accelerators and venture capitalists.

A total of 15 Korean companies participated, including five manufacturing, bio, and medical startups selected by the KMDCA, including Buzzpole, Monit Korea, and Engene Bio, which garnered significant attention from Indonesian buyers and investors.

The event featured various programs, including a seminar on startups' Indonesian market entry strategies, one-on-one expert mentoring, buyer matching consultations, and a visit to Indonesian unicorn company Pukalapak.

Engene Bio, which developed an anti-cancer genetic testing device, was selected as the top Korean company at the Demo Day competition on the 11th. Buzzpole, which possesses a remote cervical cancer diagnosis solution based on artificial intelligence (AI) and image processing, signed a memorandum of understanding (MOU) with the Indonesian Center of the Korea Medical Devices Association (KMDCA) to collaborate on entering the local market.

Kim Young-joon, Jakarta Branch Director of the Korea International Trade Association (KITA), stated, "With the recent startup boom in Indonesia, various support programs are underway. We will continue to support outstanding Korean startups to actively enter the Indonesian and Southeast Asian markets."

The program was co-hosted by the Ministry of Science and ICT, the Ministry of Culture, Sports and Tourism, and the Indonesian Creative Economy Board, and organized by the Korea International Trade Association, the Korea Creative Content Agency, and the Korea Internet & Security Agency.

Currently, Indonesia is emerging as an attractive market for global venture capitalists, thanks to the government's "1,000 Startup Incubation Project" and the increasing number of indigenous unicorn companies such as Gojek, Tokopedia, Traveloka, and Bukalapak.

July 14, 2019 / etNews / Reporter Kim Myeong-hee