Public Technology Commercialization Fund No.1 Investment Target Selected as 'Medical Femtosecond Laser'
Ministry of Science and ICT
[Asia Economy Reporter Kim Bong-su] The first investment target of the public-private joint public technology commercialization fund has been selected as an AI-based auxiliary diagnostic business for pathology using medical femtosecond laser technology.
The Ministry of Science and ICT announced on the 29th that it has completed the first investment review of the newly established public technology commercialization fund (worth 20 billion KRW) created jointly by the public and private sectors in November 2021, and selected the target accordingly. The first public technology commercialization fund primarily invests in companies that have acquired technologies from public research institutions such as universities and government-funded research institutes, startups, and companies commercializing national research and development (R&D) achievements, providing focused early-stage commercialization funding as a policy fund.
The first investment target of the first fund is BlueTileLab. This company plans to promote an AI-based auxiliary diagnostic business for pathology by acquiring medical femtosecond laser manufacturing technology developed by the government-funded Korea Electronics and Telecommunications Research Institute (ETRI). A femtosecond laser is a laser with an extremely short pulse width of 10 to 15 femtoseconds.
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Kwon Seok-min, Director of Science and Technology Job Innovation at the Ministry of Science and ICT, said, "Although it takes a long time to commercialize excellent R&D achievements developed by public research institutions such as universities and government-funded research institutes, the ripple effects are very significant, including accelerating technological innovation and creating new markets." He added, "We will make every effort to promote the fund project so that the public technology commercialization fund can facilitate market entry for technology innovation companies and fulfill the role of venture capital for growth."
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