– Selected as a company in the bio-health sector through the growth plan of ‘Development of early AI-based cancer diagnosis system’

– Participate in Mentor-Mentee Matching Day hosted by the Small and Medium Venture Business Department

Medical AI platform company DoAI (CEO Yong-Joon Choi) announced on the 16th that it was selected as a biohealth company in the evaluation of  “2020 BIG3 Small and Medium Venture Businesses Innovative Growth Support Project” organized by the Korea Institute of Industrial Technology Promotion and participated in the mentor-mentee Matching Day hosted by the Small and Medium Venture Business Department. DoAI was finally selected as a company in the digital healthcare sector in a project to support startups and venture companies with growth potential in the BIG3 sector that will be intensively fostered for three years.

In its growth plan, DoAI announced that it will provide an artificial intelligence-based early diagnosis system for cancer by integrating AI-based early diagnosis of cervical cancer and liquid biopsy system for early diagnosis of pancreatic cancer under development by expanding technology development.

This support project confirmed the support company by evaluating technicality and innovation in three major new industries, including system semiconductors, biohealth, and future cars, and DoAI revealed its growth plan for its major business model, “Development of Artificial Intelligence-Based Early Diagnosis System for Cancer,” which will be recognized for its competitiveness in creating new markets. With more than 150 companies applying, the final 13 companies in the digital health care sector were selected out of the fierce competition.

〈 Development process of AI solution for early diagnosis of cervical cancer of DoAI 〉

DoAI, which has been selected for the digital healthcare sector out of the three sectors of biohealth, will receive customized support from the Ministry of Small and Medium Venture Business, which takes into account the characteristics and growth cycles of selected companies such as technology development, commercialization, and two-way loan funds.

Nam-soon Park, a senior expert at the Korea Productivity Center who attended the mentor-mentee Matching Day as a mentor, said, “We highly appreciate the sincere attitude, enthusiasm and excellent technical skills of competent management and employees and hope to position them as AI-based technology leaders through data accumulation and reliable data analysis. Although we have evaluated and mentored numerous start-ups, it is not easy to meet companies with technology capabilities suitable for the global market, and we believe that DoAI will soon become another unicorn company that stands tall in the global market.”

Hak-jin Lee, a senior researcher at DoAI, said, “It was a meaningful and informative time to get detailed advice on business plans and IR data from mentors who actually conducted a number of government task evaluations,” adding, “Expectations for innovative growth support projects such as additional mentor programs and R&D support increased.”

Meanwhile, Yong-joon Choi, CEO of DoAI, served as senior consultant for management consulting at AT Kearney and Arthur D. Little and a serial entrepreneur in ICT/Bio healthcare industry, started startup companies in Korea and the United States, listed in the capital market and carried out a number of M&A projects. Co-founder, Shin-ho Do is the head of the Laboratory of Medical Imaging and Computing (LMIC), which is developing medical artificial intelligence algorithms at the Massachusetts General Hospital, a Harvard Medical School hospital.