Noel, an AI-powered blood and cancer diagnostics company, said Tuesday it has been selected for the South Korean government’s Global SME 1000+ Project in the growth-company category.
The program, overseen by the Ministry of SMEs and Startups, provides participating companies with a range of support measures aimed at accelerating overseas business expansion.
As part of the selection, Noel will receive automatic eligibility for export voucher programs, as well as access to policy financing, credit guarantees and insurance programs, preferential banking services and improved foreign-exchange transaction conditions.
The company said the support will help strengthen overseas marketing efforts and export infrastructure development, enabling it to accelerate the scaling of its global business operations.
Noel has recently expanded its international footprint, particularly across Europe and Latin America. The company has broadened collaborations with healthcare institutions and business partners in European markets including Germany and Romania, while actively pursuing new opportunities in Latin American countries such as Mexico and Panama.
Notably, discussions are underway in Panama regarding the potential adoption of Noel’s AI-powered diagnostic platform, miLab, in a national screening program, reflecting growing demand for the technology in the region.
The company plans to leverage government support and global networking opportunities provided through the Global SME 1000+ Project to strengthen its presence in Europe and Latin America. Noel also aims to enter additional markets and expand strategic partnerships within the year.
“This selection recognizes not only the innovation of Noel’s AI diagnostic technology but also its potential for global scale-up,” CEO Chanyang Lim said. “We will use the government’s export, financing and marketing support to improve operational efficiency and accelerate overseas revenue growth and profitability.”
Meanwhile, Noel’s miLab is designed to deliver laboratory-grade diagnostic accuracy and convenience in point-of-care settings.
The platform automates the entire microscopy workflow—from blood sample preparation and imaging to AI-driven analysis—and can provide detailed diagnostic results in as little as 15 minutes.
In 2022, international health agency Unitaid described miLab in an official report as “the most advanced digital microscope and fully integrated bench-top platform,” highlighting the technology as one of the most advanced point-of-care blood diagnostic solutions currently available.