Korea-based healthtech startup Sky Labs has been selected as one of the four winners of the Grants4Apps (G4A) Accelerator programme in Berlin. The programme is run by Bayer, a top German pharmaceutical and life sciences company which took in about EU 46.7 billion (US$56 billion) last year.

The winners were picked out of 450 applicants across 61 countries. Sky Labs and the three other winners will each receive EUR 50,000 (US$60,000) in financial support and will move into Bayer’s headquarter of the pharmaceutical division in Berlin during the accelerator programme, which lasts for about 100 days.

Bayer senior managers and external experts will also mentor and support the startups in further developing their business models and products during that time.

Sky Labs is developing a smart ring-like device called CART (Cardio Tracker) that is capable of diagnoising and managing atrial fibrillation (AF) — a form of heart disease that results in irregular heartbeat rhythms.

AF affects one out of four people in their 40s or older, and may cause a stroke from which more than half of the patients die.

“Since Bayer is a global leader in the field of cardiovascular disease treatments including novel oral anticoagulant (NOAC), we expect that this opportunity would help us to develop our AF diagnosis device further to promote early detection and improve treatment rate of AF in both local and global market,” said Byung-hwan Lee, the CEO of Sky Labs, in an official press release.

Image Credit: Sky Labs