Itphy, a digital healthcare startup that developed the AI-based musculoskeletal rehabilitation platform 'RingDoc', announced on the 2nd that it has been selected for the Ministry of SMEs and Startups' TIPS (Tech Incubator Program for Startup) program.
TIPS is a private investment-led technology startup support program where the private sector and the government cooperate to nurture promising startups. When a private operator makes an initial investment in a promising startup, the government provides matching support for Research and Development (R&D) funding.
Itphy was recommended by Korea Investment Accelerator. With this selection for TIPS, it will receive up to 700 million KRW in R&D funding over two years.
Itphy has developed 'RingDoc', a customized rehabilitation platform for musculoskeletal patients, and 'RingDoc Motion', a 3D joint function measurement device, providing an integrated digital rehabilitation solution capable of accurate diagnosis-based exercise prescription and quantitative functional analysis.
The platform has been adopted by about 20 major university hospitals nationwide, including Kyung Hee University Hospital, Yonsei University Gangnam Severance Hospital, Konkuk University Medical Center, Gachon University Gil Medical Center, Chonnam National University Hospital, Busan Paik Hospital, Daegu Keimyung University Dongsan Hospital, and Myongji Hospital, as well as musculoskeletal specialty hospitals and clinics. It has secured over 1,600 cases of actual cumulative prescription data and recorded an improvement of over 20% in joint range of motion and over 80% satisfaction in evaluations targeting rotator cuff surgery patients.
Itphy Co-CEOs Lee Sung-min and Lee Jae-jun stated, "Amid the rapid growth of the digital therapeutics and non-face-to-face rehabilitation markets, 'RingDoc' and 'RingDoc Motion' are realistic solutions that medical staff can use in actual clinical practice." They added, "Using this TIPS selection as a stepping stone, we will officially launch 'RingDoc Motion' within this year and accelerate domestic and international market expansion and technological advancement."
[Source] Itphy, Operator of AI Musculoskeletal Rehabilitation Platform 'RingDoc', Selected for TIPS
| Written by Reporter Nam Mi-rae, Money Today |
View ๐
Itphy, a digital healthcare startup that developed the AI-based musculoskeletal rehabilitation platform 'RingDoc', announced on the 2nd that it has been selected for the Ministry of SMEs and Startups' TIPS (Tech Incubator Program for Startup) program.
TIPS is a private investment-led technology startup support program where the private sector and the government cooperate to nurture promising startups. When a private operator makes an initial investment in a promising startup, the government provides matching support for Research and Development (R&D) funding.
Itphy was recommended by Korea Investment Accelerator. With this selection for TIPS, it will receive up to 700 million KRW in R&D funding over two years.
Itphy has developed 'RingDoc', a customized rehabilitation platform for musculoskeletal patients, and 'RingDoc Motion', a 3D joint function measurement device, providing an integrated digital rehabilitation solution capable of accurate diagnosis-based exercise prescription and quantitative functional analysis.
The platform has been adopted by about 20 major university hospitals nationwide, including Kyung Hee University Hospital, Yonsei University Gangnam Severance Hospital, Konkuk University Medical Center, Gachon University Gil Medical Center, Chonnam National University Hospital, Busan Paik Hospital, Daegu Keimyung University Dongsan Hospital, and Myongji Hospital, as well as musculoskeletal specialty hospitals and clinics. It has secured over 1,600 cases of actual cumulative prescription data and recorded an improvement of over 20% in joint range of motion and over 80% satisfaction in evaluations targeting rotator cuff surgery patients.
Itphy Co-CEOs Lee Sung-min and Lee Jae-jun stated, "Amid the rapid growth of the digital therapeutics and non-face-to-face rehabilitation markets, 'RingDoc' and 'RingDoc Motion' are realistic solutions that medical staff can use in actual clinical practice." They added, "Using this TIPS selection as a stepping stone, we will officially launch 'RingDoc Motion' within this year and accelerate domestic and international market expansion and technological advancement."
[Source] Itphy, Operator of AI Musculoskeletal Rehabilitation Platform 'RingDoc', Selected for TIPS
View ๐| Written by Reporter Nam Mi-rae, Money Today |