Korea Institute of Startups and Entrepreneurship Development (KISED) has successfully completed their Entrepreneurship World Cup Finals
VSPharmTech, a company developing radio sensitizers, won the grand prize in the Korean preliminary round of the 'EWC (Entrepreneurship World Cup) 2024'. VSPharmTech will advance directly to the EWC global finals to be held in Riyadh, Saudi Arabia in November, where it will compete against global companies for a total prize pool of $1 million.
Garry
Lyon

VSPharmtech was selected as the target company in the EWC 2024 Korean preliminary round held by the Ministry of SMEs and Startups on the 7th. VSPharmtech is a company that develops radiosensitizers that enhance the effects of radiation therapy for cancer patients. VSPharmtech's core pipeline is the radiosensitizer 'VS-101'. It is a new substance that can enhance the therapeutic effects of radiation used in cancer treatment, etc. It plays a role in increasing the anticancer effect when used in combination with radiation therapy and reducing the cumulative radiation dose to which the patient is exposed, thereby reducing side effects.

Following VSPharmtech, MediPixel was selected for the Grand Prize. It is a company that develops auxiliary software that diagnoses cardiovascular diseases in real time by applying blood vessel segmentation technology. Sustainable construction technology platform EnergyX was selected for the Excellence Award, and Spacemap, a real-time decision-making platform for the space industry, was selected for the Encouragement Award. The four selected teams will advance to the EWC Global Finals held at 'BIBAN 2024', the largest startup event in the Middle East hosted by the Saudi Arabian Small and Medium Enterprises Authority, and compete for a total prize money of $1 million with excellent startups from around the world.

EWC is a startup competition hosted by the Saudi Arabian Small and Medium Enterprises Authority and the Global Entrepreneurship Network (GEN). Since its launch in 2019, about 400,000 teams from over 200 countries around the world have participated. At the last EWC 2021, the domestic electronic neural solution company 'Todak' won the grand prize.

An official from the Ministry of SMEs and Startups said, "As interest in and status of Korean companies in the Middle Eastern market have increased, starting this year, the Ministry of SMEs and Startups and the Institute for Startups and Entrepreneurship Promotion signed a business agreement with the Global Entrepreneurship Network and held the EWC Korea preliminary round as official operating organizations." The official added, "We plan to set up a 'K-Startup Integrated Pavilion' at BIBAN 2024 and support the exhibition participation of startups that demonstrated excellent capabilities in the Korean preliminary round, including companies that advanced to the EWC global finals."