HIGHER Corporation, a medical device startup, has been designated as a 'Baby Unicorn' by the Ministry of SMEs and Startups and received the 'First Penguin' award from the Korea Credit Guarantee Fund. These accolades validate the company's advanced technology and business model, identifying it as a prospective global unicorn. The 'Baby Unicorn' program is a government strategy to nurture startups with high global growth potential through tailored support, financial assistance, and strategic guidance, aiming to accelerate their development toward unicorn status. This year's selection process was highly competitive, reflecting the dynamic growth of Korea's startup ecosystem, with Daegu gaining prominence as a hub for technological and entrepreneurial advancement.
Founded in 2021, HIGHER Corporation has established three core business areas: Medi-Order, a platform for medical device orders; HigherLink, a network for beauty medical services; and its flagship product, HILO WAVE®, an innovative collagen booster. HILO WAVE® is a bio-stimulator that employs a unique dual-formulation of hyaluronic acid to naturally increase collagen and elastin production, delivering immediate and long-lasting skin quality enhancements. The company's global approach has already yielded results, with significant supply agreements in Southeast Asia and ongoing negotiations in Brazil and China, pending regulatory approvals. Efforts to obtain CE MDR certification are in progress, targeting entry into the European market and strengthening its position in the global aesthetic medical device sector.
Support from the Ministry of SMEs and Startups includes substantial financial incentives and guarantees, designed to drive Baby Unicorn companies like HIGHER Corporation toward international achievement. The company's leadership is confident in utilizing these opportunities to establish itself as a global leader in medical aesthetics, fueled by innovation and a focus on sustainable growth. This recognition matters as it highlights the growing importance of startups in the medical technology field, with implications for job creation, economic development, and advancements in healthcare. The government's backing through programs like the Ministry of SMEs and Startups and the Korea Credit Guarantee Fund underscores a commitment to fostering innovation, potentially leading to increased competitiveness in global markets and improved medical solutions for consumers worldwide.
