Super Incubator ‘VentureBlick’ plans to create a fund for medtech startups

VentureBlick was founded in September last year... Discovering and nurturing medtech startups. The first 'super fund' worth 20 billion KRW in the first quarter of next year...including Korean corporate investment plan

“I hope that among the Korean Medtech startups discovered by VentureBlick, a unicorn company will emerge. I also want to contribute to the development of the local Korean medical industry. Furthermore, I will take the lead in creating a global healthcare venture ecosystem. We plan to launch the ‘VB Discovery’ platform early next year.”

Chris Lee, CEO of VentureBlick, has over 30 years of experience in global pharmaceutical and medical device companies such as Merck (MSD), Bristol-Myers Squibb (BMS), Bayer, and Medtronic. He is an expert in the healthcare field.

In particular, CEO Lee became the first Asian CEO in Bayer's founding history, and served as President of Medtronic China and President of the Asia Pacific (APAC) region. He worked at Medtronic for 10 years, focused on the growth potential of the medtech industry, and founded VentureBlick, which supports the discovery and development of medtech startups, in September of last year.

VentureBlick, headquartered in Singapore, has launched a global platform that connects promising medtech startups with medical investors, and is focusing on helping promising startups chosen through a unique three-step selection process. CEO Lee, who leads the Singapore headquarters, is currently also in charge of the Korean business.

?

Hit News met with CEO Chris Lee to hear about the differentiated characteristics and future plans of VentureBlick, which is working to create a global healthcare venture ecosystem.

Having a large global healthcare advisory group... Aiming to become a ‘super incubator’

CEO Chris Lee said, "The medtech field can produce results in a faster period of time than new drug development. It is difficult for startups to develop new drugs on their own. Above all, they compete with big pharma companies to create 'global blockbusters’ (annual sales of $1 billion). “It is very difficult to launch such medicines,” he said. “We need to turn our attention to the diagnostic sectors and medical device fields. I think the field that can produce tangible results is medtech,” and support investments in medtech startups. He revealed his background in coming forward.

VentureBlick undergoes screening and due diligence through an internal investment committee and then conducts detailed verification through a large-scale global healthcare advisory group (VB Advisory Network). Since then, additional validation methods have been applied to attract investment from the medical community. The company is discovering and nurturing innovative medtech startups through a differentiated three-stage verification process.

?

CEO Lee said, "In the medical device field, the 'end-user' is a doctor. For this reason, the advice of a doctor is essential during the verification process for medtech startup products. VentureBlick currently has about 1,700 advisors in over 50 countries. “Medical experts account for more than 70% of the total, and are mainly made up of doctors in their 40s and 50s. Investments in startups are made after medical device verification by some members of the advisory group,” he explained.

Benefits of participating in the Global Healthcare Advisory Group (VB Advisory Network)

1. You can identify the latest technologies and innovation trends in related professional fields.
2. You can share your knowledge and expertise with the global medical community.
3. You can get early investment opportunities in startups.
4. You may be given the opportunity to take on a consulting, advisory or advisory position in a startup.
5. May participate in research projects, early clinical trials, product evaluations, or journal writing.
6. You will have the opportunity to participate in startup screening panels, IR events, networking events, and training sessions.

*Advisory fees and credits may be paid when necessary.

VentureBlick is a ‘Super Incubator’ specialised in nurturing global healthcare startups, covering everything from discovery to nurturing, connection, and investment of early-stage medtech startups. VentureBlick's first super incubator company is Singapore's 'Castomize.' Castomize is a startup that is developing an ‘open cast’ based on 4-dimensional (4D) printing technology.

?

CEO Lee said, "Currently, Castomize's corporate value is $2 million (approximately 2.6 billion KRW), but once sales are generated in earnest, the company's corporate value will rise rapidly." He added, "Once sales are generated, I believe the corporate value will reach tens of billions of won. VentureBlick will expand its global business by discovering and nurturing more than 20 incubator companies in the future,” he said.

Providing end-to-end solutions to startups

Target for operating the first super fund in the first quarter of next year

VentureBlick is an ‘end-to-end’ solution that supports accelerated growth of medtech startups through △ idea verification and investment attraction △ strategy improvement and refinement △ strengthening IR pitching and raising awareness △ design and manufacturing support △ global product registration and sales, etc.

?

CEO Chris Lee said, “For medtech startups, to implement prototype ideas, we need to create several demo products,” and added, “VentureBlick has a specialised medical device manufacturing company as its partner. We will actively help and use our network to produce and sell products for startups.”

?

Currently, VentureBlick is working to create a 'super fund' worth $15 million (approximately 20 billion KRW) to foster early-stage medtech startups. CEO Chris Lee added, “We are aiming to complete the creation of ‘VentureBlick Super Fund No. 1 (VB Super Fund Ⅰ)’ by the end of this year and operate the funds in the first quarter of next year. We also have plans to invest in domestic companies.”

?

Additionally, VentureBlick is also working on developing the ‘VentureBlick Discovery (VB Discovery) Platform’ where startups, medical experts, and investors come together to exchange information and create businesses. CEO Lee explains that this platform aims to be an integrated platform where innovators, advisors, and investors in the global healthcare field come together to exchange each other's values and promote innovation.

?

Lastly, CEO Lee said, “VentureBlick is pursuing a horizontal culture. When the company achieves a certain milestone, we will provide incentives to all employees.” He added, “The company has a workforce of about 30, but the majority of members are “have excellent capabilities as they have experience in global healthcare companies,” he emphasized.

?Source: Hit News (https://www.hitnews.co.kr)