iPark Institute Forms Strategic Business Partnership with South Korean Ministry of SMEs and Startups for Bioventure Innovation
iPark Institute Co., Ltd. (headquartered in Fujisawa, Kanagawa, Japan; CEO: Toshio Fujimoto; hereinafter “iPark Institute”) proudly announces the signing of a significant business agreement with the South Korean Ministry of SMEs and Startups (headquartered in Sejong Special Self-Governing City; Minister: Lee Young; hereinafter “MSS”) on November 9, 2012.
Under this agreement, iPark Institute and MSS (collectively referred to as “the two institutions”) will collaborate on: (1) nurturing start-ups in advanced biotechnology in South Korea, (2) conducting joint research and development in this field, and (3) facilitating open innovation programs. These initiatives aim to drive growth in advanced biotechnology across Japan and South Korea.
This collaboration represents the seventh partnership of iPark Institute with both domestic and international science parks, furthering its vision to ‘build a globally inclusive life science ecosystem’.
The partnership entails:
１． Support for South Korean Biotech Startups:
The two institutions will jointly select South Korean startups specializing in advanced biotechnology (such as cell and gene therapies, regenerative medicine). These startups will be provided with access to Shonan iPark facilities and laboratory support from iPark Institute, along with commercialization funding from MSS.
２． South Korea-Japan Joint R&D:
iPark Institute will identify Japanese entities (universities, research institutes, and companies) with innovative technologies, while the Ministry will connect with South Korean bio ventures for joint research. MSS will also offer R&D financial support to these South Korean ventures.
３． Open Innovation Program:
A collaborative project will be managed by the two institutions, focusing on South Korean ICT and bio ventures developing solutions for Japanese bio companies in AI and new drug development. This includes company selection, financial support, and facilitation of collaboration opportunities.
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