Korea to invest W42b in next-gen medical devices powered by AI, robotics

Korea to invest W42b in next-gen medical devices powered by AI, robotics

The South Korean government on 24th July kicked off a new joint initiative to speed up the development of next-generation medical devices powered by artificial intelligence and robotics, launched as part of the country's “bio economy” drive, the Science Ministry said.

As part of the initiative, the Ministry of Science and ICT, together with the Ministry of Trade Industry and Energy, the Ministry of Food and Drug Safety and the Ministry of Health and Welfare, will be allocating 42 billion won ($36.97 million) to nine selected research teams over the course of five years.

Each team will work on developing globally competitive products that fall in the categories of AI-powered implantable medical devices, smart disease diagnostics or treatment solutions and AI-based medical robotics systems.

(123RF)

The pan-government initiative seeks to pool the currently scattered resources of each ministry, and to streamline the medical device development process from start to finish.

The Science Ministry will oversee the basic research and technology development process, while the Industry Ministry will support the initial prototype and commercially viable product development procedures.

Meanwhile, the Health Ministry will support the clinical trial planning and execution aspect. The Drug Ministry, the body in charge of approving new medical devices, will support the marketing authorization procedures.

 

See URL for details : http://www.koreaherald.com/view.php?ud=20180724000578

Source : KOREAJERALD

 

 

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Heewon Shim

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