Summary
- Profile Type
- Technology offer
- POD Reference
- TOKR20240820001
- Term of Validity
- 20 August 2024 - 20 August 2025
- Company's Country
- South Korea
- Type of partnership
- Research and development cooperation agreement
- Targeted Countries
- All countries
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General information
- Short Summary
- WELT Corp., a Seoul-based startup founded in 2016, aims to "treat the world" with software. It has created a digital therapy for insomnia, proven effective in improving sleep and quality of life, and is now reimbursed in South Korea. The company is also developing software for eating and substance use disorders. With €19 million in Series C funding, WELT collaborates with partners in Korea, the USA, and Germany and seeks to expand R&D partnerships in Europe, especially in digital therapeutics.
- Full Description
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WELT Corp.'s vision is rooted in the belief that " software will treat the world." WELT has developed an innovative digital therapeutic software specifically designed for patients suffering from insomnia. Through rigorous scientific research, WELT has demonstrated that this software helps users overcome sleep-related issues and significantly enhances their overall quality of life. This breakthrough product has been approved for reimbursement in South Korea, allowing WELT to begin offering its service to a broader audience. Building on this success, WELT is actively engaged in the development and clinical trials of additional software solutions aimed at addressing other pressing health concerns, such as eating disorders and substance use disorders. WELT remains committed to exploring and seizing new opportunities for R&D collaborations across Europe, seeking to partner with top-tier institutions and organizations. Whether enhancing existing solutions or embarking on new research topics, WELT is eager to contribute to the evolution of digital therapeutics.
Founded in 2016 and based in Seoul, South Korea, WELT is a dynamic startup with significant strides in the digital health sector. Since its inception, the company has successfully raised a total of €19 million across several funding rounds, up to the Series C stage. WELT boasts a solid in-house team comprising software developers and clinical experts who work together to create and refine their therapeutic offerings. The company has established R&D partnerships with entities in Korea, the USA, and Germany, collaborating on projects that have garnered support from the Korean government. However, WELT's presence in Europe remains limited, with few partners and ongoing regional projects. As such, WELT is actively seeking to forge new partnerships with universities, large corporations, and research institutions across Europe. The company is particularly interested in collaborating with those who recognize the potential of digital therapeutics in their markets and can lead and coordinate R&D initiatives with WELT in Europe. - Advantages and Innovations
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The founder and CEO of WELT is a medical doctor, providing the company with strong medical expertise. The core team at WELT includes psychiatrists, pharmacy doctors, and experts from leading pharmaceutical companies. This diverse team brings a deep understanding of the healthcare system, considering the perspectives of providers, patients, and the overall infrastructure.
WELT's expertise ensures that healthcare providers who prescribe its products trust it. The team is well aware of the challenges providers face when adopting new therapies. By leveraging its experience, WELT creates solutions that are scientifically validated and practical for real-world use.
Collaboration is central to WELT’s approach. The company seeks feedback from partners, including major hospitals and users, to continuously improve its products. This process ensures that WELT's digital therapeutics meet high quality, usability, and efficacy standards.
WELT’s dedication to addressing real-world healthcare issues is evident in its product development. Each solution is designed with the specific needs of patients and providers in mind, making them both innovative and effective. Through continuous refinement, driven by feedback from top-tier healthcare institutions, WELT ensures its products are well-received and trusted. - Stage of Development
- Concept stage
- Sustainable Development Goals
- Goal 3: Good Health and Well-being
Partner Sought
- Expected Role of a Partner
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WELT actively seeks new research partners across Europe and is open to collaborating with organizations from various sectors, including industry, academia, research institutions, and business fields. The type of partner does not limit the company and is eager to work with any organization committed to advancing digital therapeutics. While having specific certifications or qualifications is not mandatory for potential partners, WELT places a high value on those with a proven track record of successfully executing EU-funded projects. Experience managing or participating in such projects is significant, as it demonstrates a familiarity with the rigorous standards and expectations often associated with European funding programs.
Moreover, WELT is especially interested in partnering with organizations that have experience conducting collaborative projects across multiple continents. This international project experience is highly desirable because it reflects the ability to navigate the complexities of global research and development efforts, including coordinating activities across different regulatory environments and cultural contexts. By joining forces with partners who have this level of expertise, WELT aims to further its mission of developing cutting-edge digital therapeutics solutions that can address health challenges on a global scale. WELT is committed to fostering innovative research partnerships that will drive the development of new technologies and therapeutic approaches, ultimately contributing to improving healthcare outcomes worldwide. - Type and Size of Partner
- University
- Big company
- R&D Institution
- Type of partnership
- Research and development cooperation agreement
Dissemination
- Technology keywords
- 06001012 - Medical Research
- 06001013 - Medical Technology / Biomedical Engineering
- Market keywords
- 05007006 - Computer-aided diagnosis and therapy
- 05007007 - Other medical/health related (not elsewhere classified)
- Targeted countries
- All countries