Korean startup Medical Technology Expert Group (MTEG) has developed a Cloud-based video and AI-based analysis platform ‘SurgStory’ for internal surgical videos via endoscopy that allows doctors to review and share surgical knowledge to other doctors and medical students. MTEG’s AI-powered video management system automatically edits and annotates videos and makes it easy to retrieve.
A platform that stores, edits and annotates surgical videos
In the medical world these days, a large percentage of surgeries are done via endoscopy. This makes it possible to record video of the entire operation from inside of the patient anatomy. These intimate records can be groundbreaking and highly useful for doctors, researchers and medical students. However, with no proper system in place to manage and store the videos, they are deleted in almost every case. Doctors just don’t have a powerful enough video management system to store, sort and retrieve videos for all of their patients. Furthermore, such videos are too long for doctors to edit by themselves, making annotation impossible. MTEG has come with a technologically advanced solution for preserving the surgical videos.
MTEG’s AI-powered video management system SurgStory analyzes endoscopy video footage and automatically identifies “key scenes” important to the surgery, such as when the doctor is performing incisions or examining lesions. With just a few clicks, doctors can select which scenes to include in the video, and condense the entire footage into short clips. This makes it easy to input data and annotate the clips. SurgStory can become a very useful tool for not only storing important surgical videos but also can contribute to medical research work. The platform can be installed in hospitals as a bespoke system. The startup is also coming up with a web-based platform for use by smaller hospitals, universities and research groups.
Useful for small & large hospitals, medical research, education
MTEG’s business for revenue generation includes
1) a freemium web platform to onboard researchers and collect more data;
2) sales of bespoke solutions for large hospitals;
3) video and data sales to educational institutions, medical equipment companies and AI research companies; and
4) government support for cooperation with non-profit organizations.
The startup has forged important research partnerships with four major Korean hospitals to collect a video database of surgeries for a range of internal ailments. The team has also proposed to Seoul National University for installation of the first large-scale platform. Since its launch in 2016, MTEG has raised $2.8 million from investors and government grants. The company is now looking to raise an additional $2 million USD in Series A funding for further marketing and research purposes. MTEG team will be presenting their video platform solution that fills a real need in the medical industry that patients and doctors can benefit from at the RISE Tech Conference in Hong Kong to be held from July 8 to 11. The conference is supported by the Korea Institute of Startups & Entrepreneurship Development (KISED) and attracts many prominent leaders from global companies, major media outlets, and influential investors.