Health tech startups seek investments at LG Super Start Day
Visitors to this year's LG Super Start Day pack the event hall at LG Sciencepark in Seoul, Thursday. Courtesy of LG Group
LG Group's annual startup festival showcased how technology can improve people's health with innovative smart solutions and devices.
A group of 51 selected startups promoted their latest innovations during the LG Super Start Day event, which ended its two-day run on Thursday. The open innovation festival is part of LG's efforts to help startups explore more growth opportunities. They seek new investment opportunities and deepen tech partnerships with big companies through the event.
Startups with health care solutions, in particular, have drawn a huge spotlight from visitors at this year's event.
Moty CEO Bang Ji-won introduces the firm's smart weightlifting machine at its booth at LG Sciencepark in Seoul, Thursday. Korea Times photo by Lee Min-hyung
Pictured is the author of this story trying a smart workout machine developed by Moty at its booth set up at LG Sciencepark in Seoul, Thursday. Korea Times file
Moty, a smart strength machine maker, showcased its cutting-edge weightlifting machine. Once the equipment becomes popular, it appears the traditional gym landscape will undergo drastic changes.
The smart machine is equipped with a motor at the bottom. Users can set a specific weight level by touching a screen of the machine. The motor then controls the intensity of the exercise in line with the instruction by its user. All the exercise data is also recorded, so they can keep tight track of their personal workout results.
Users can also change their exercise targets by shifting the location of a bar or a grip attached to the machine.
The startup said its initial sales targets are gyms or sports organizations. The firm's CEO expressed confidence in broadening its global presence.
"Moty's smart workout machine is already drawing positive responses from clients here and abroad," Moty CEO Bang Ji-won said. "We place a strategic focus on widening our footing abroad amid growing global demand for smart healthcare products."
Moty was recently selected as one of the final seven startups for Real Madrid's accelerator program. The startup will undertake a proof-of-concept phase to showcase its product to the football team.
Voinosis CEO Shin Jung-eun explains its dementia diagnosis solution at its boost at LG Sciencepark in Seoul, Thursday. Korea Times photo by Lee Min-hyung
Voinosis, a dementia diagnosis solution provider, also won favorable responses from hundreds of visitors during the event.
The health care startup's dementia golden time finder is powered by artificial intelligence (AI) and a state-of-the-art voice analytics tool.
Users need to respond to a list of questions with their own voice when using the solution. The AI-powered software then analyzes detailed tones of voice and the accuracy of the response to predict users' possibility of being affected by dementia.
Voinosis CEO Shin Jung-eun said the company is on track to expand its global reach by collaborating with a group of big companies. Shin also serves as a professor of otolaryngology at Konkuk University Medical Center.
"We are in talks to deepen a partnership with U.S. network operator T-Mobile," she said. "Our proven prowess in AI and voice analytics gains growing traction from clients here and abroad."
The company is also widening its client base to a number of global firms, such as Hyundai Motor, as more companies seek to launch diverse voice recognition services.
"Voinosis is accelerating a proof-of-concept with Hyundai Motor to develop a service to detect drivers' stress level on the road," she said.
LG expressed hopes to clinch more tech partnerships with innovative startups.
"Participants for the LG Spark event can enjoy cultural and technological values without any boundaries," LG Sciencepark President and CEO Park Il-pyung said. "We will keep making efforts to generate more R&D synergies with our affiliates and offer differentiated values to customers."