Korean biotech start-up picked as finalist in state programs
South Korea’s biotech start-up uLikeKorea said on May 25 that it was picked as a finalist in two government-backed programs headed by Born2Global Center.
Affiliated with the Ministry of Science and ICT, the center is a major state agency, which provides support and consulting to innovative high-tech companies tapping into the overseas market.
uLikeKorea noted that the two programs are the “2021 DNA General Service Overseas Support Program” and “Designated Foreign Market Entry Support Program.”
In case uLikeKorea is eventually selected, the former will help the Seoul-based outfit set up a joint venture in Paraguay to offer its livestock health management services.
The latter is about making a foray into Brazil with 210 million cows, one of the world’s biggest livestock markets in the world.
With its info-tech-based livestock healthcare services, dubbed Livecare, uLikeKorea has waded into not only the Korean markets but also the overseas ones, including Japan.
The Livecare products enable farmers to check biometric data of their cows through their mobile phone or computer on a real-time basis _ once the cows swallowed a bio capsule.
“The Latin American market accounts for 20 percent of the 1.5 billion global cattle market and has enormous potential,” uLikeKorea’s founding CEO Kim Hee-jin said.
“Through this great opportunity with Born2Global, we are happy to speed up our optimization process in entering the key markets such as Brazil and Paraguay in effectuating our services and make inroads into these critical markets.”
She also noted that in the future, uLikeKorea will expand its services to such neighboring places as Argentina and Uruguay.