Amorepacific Selects 3 Domestic Startups as Priority Partners

[Asia Economy Reporter Hwang Yoon-joo] The Korea International Trade Association announced on the 25th that three companies, including Simplex, were finally selected as Amorepacific's priority partner companies at the recently held 'Amorepacific Research and Development (R&D) Innovation Challenge.'

On the 18th, Amorepacific held one-on-one meet-up events with seven promising startups in five fields: ▲Materials (natural materials, eco-friendly raw materials, etc.) ▲Sustainable packaging (biodegradable, plastic-free, etc.) ▲Bio (microbiome, referring to microorganisms and genetic information inhabiting the human body) ▲Digital (wearables, augmented reality, etc.) ▲Devices (massagers, patches, etc.).

This event recruited 126 startups through the association's open innovation platform 'InnovBranch,' which involves over 50 domestic and international companies and more than 8,500 startups. Among them, seven startups were selected to participate. Many researchers from Amorepacific's technology research institute and headquarters officials attended the meet-up to closely evaluate the startups' technological achievements and business potential.

The three companies finally chosen by Amorepacific are Simplex, which possesses AI-based technology for discovering efficacy substances for new drug candidates; Bareun, which has natural oral care materials and formulation technology safe for ingestion; and PiQuant, which utilizes spectroscopy for detecting and analyzing cosmetic ingredients. The selected startups will continue detailed discussions for collaboration with Amorepacific, including technology licensing, joint research, and co-development of innovative products.

This content was produced with the assistance of AI translation services.