DGIST Student Start-up SeaWith Co., Ltd., Selected for Tech Incubator Program for Startups(TIPS), Attracting 500 Million KRW
작성자. Public Relations Team
Recognized for developing ‘future food’ clean meat technology and potential of commercialization model
△ Co-CEOs Geum Jun-ho and Lee Hee-jae (first and second from left) and members of SeaWith Co., Ltd.
DGIST student start-up, ‘SeaWith Co., Ltd.’ (Co-CEO: Jun-ho Geum and Hee-jae Lee) announced that the company was selected for TIPS, a Tech Incubator Program for Startups organized by the Small and Medium Business Administration.
‘TIPS’, Tech Incubator Program for Startups, which selects promising start-ups with excellent technology is a financial support program funded by both governmental and private R&D investments. SeaWith Co., Ltd. will be receiving 500 million KRW funded by the government. SeaWith Co., Ltd. is the first DGIST student start-up that has ever selected for TIPS program.
SeaWith Co., Ltd. was founded in March, 2019 mainly by Jun-ho Geum and Hee-jae Lee of the Department of New Biology, DGIST. The main business model is to produce ‘a clean meat’, developed in a laboratory using their technologies, instead of raising and slaughtering livestock from existing livestock settings. Their goal is to commercialize the clean meat, which is no different than actual meat, by producing their own culture medium using seaweed and 3D structures. SeaWith is currently developing the source technology for the production and commercialization of ‘C Meat,’ a clean meat, and ‘Yo.od,’ a low iodine seaweed processed food.
SeaWith Co., Ltd. won prizes at many start-up contests, starting from the grand prize in the idea category at the Marine and Fisheries Start-up Contest, which was held by the Ministry of Oceans and Fisheries in 2018, the grand prize for IR Presentation Contest at the ‘Lab Start-up 2020,’ which is a laboratory start-up festival organized by the Ministry of Science and ICT this year. Through such achievements, SeaWith has already attracted initial investments of 500 million KRW from Blue Point Partners and Enlight Ventures, which are professional investment companies for technical ventures, proving their excellence as start-up items.
“We became more confident after we were selected for TIPS. We are ready to further develop the source technology for clean meat production,” said CEO Geum Jun-ho of SeaWith Co., Ltd. while adding, “We will put more effort to commercialize the production technology starting from the sampling event for the clean meat we develop in the beginning of next year.”