Summits, which operates MY VENUS, an Indonesian online-to-offline (O2O) beauty and medical services platform, announced on the 31st that it had been selected for the Korea Credit Guarantee Fund’s 2021 OPEN NEST 200 accelerator program.

The 2021 Open NEST 200 program, led by the Korea Credit Guarantee Fund and operated by Darae Strategic Commercialization Center, provides outstanding startups with structured support, from acceleration to financing and growth assistance.

MY VENUS, operated by Summits, is Indonesia’s first O2O beauty and medical services platform, allowing users to compare and choose from a range of services. The platform aims to put consumers first by providing not only information from service providers but also reviews from users who have tried the services.

Summits was co-founded by CEO Eugene Hwang, a graduate of Peking University Health Science Center who previously built a successful plastic surgery tourism platform in Indonesia that drew attention from local media; director Kyung-hoon Cho, a finance expert formerly with NH Korindo Securities in Indonesia; and director Shin-jae Kwak, who attracted industry attention by successfully building a range of platform businesses, including Nolja Discovery and Naver OGQ Market.

Recognized for its expertise in Indonesia’s beauty and medical services market, Summits has raised seed funding from Capstone Partners, known as an early investor in Danggeun Market; Bluepoint Partners, a technology startup investor; and Singapore-based United Family Capital. In November this year, it was also selected for TIPS, the technology startup program run by the Ministry of SMEs and Startups.

“Building on our selection for the Korea Credit Guarantee Fund’s accelerator program, we want to transform Indonesia’s beauty and medical services market while helping Korean plastic surgery clinics and dermatology clinics expand into Indonesia, the world’s fourth-most populous country,” said Summits CEO Eugene Hwang.

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