Seoul City Co-hosts 'Seoul Innovation QuickFire Challenge' with Johnson & Johnson Innovation and Korea Janssen
Recruitment of Innovative Technology Companies in 6 Fields Including Oncology and Infectious Diseases, Total of 2 Companies Selected
[Asia Economy Reporter Lim Cheol-young] The Seoul Metropolitan Government announced on the 7th that the 'Seoul Innovation QuickFire Challenge,' a gateway for the growth of global bio and healthcare companies and a platform for open technology and idea collaboration, will kick off on the 8th.
The Seoul Innovation QuickFire Challenge is an innovation technology competition co-hosted by the Seoul Metropolitan Government and Johnson & Johnson for six years. So far, a total of nine Korean companies and one American company have won, and the selected companies belong to the Johnson & Johnson Innovation program, receiving various growth support benefits.
This year's competition theme is 'Scientific Advancements of Tomorrow.' Startups or prospective entrepreneurs worldwide with innovative technologies in six fields?oncology, immunology, infectious diseases, neuroscience, cardiovascular and metabolic diseases, and vision?who have been established for five years or less can participate in the Seoul Innovation QuickFire Challenge.
The selection scale is a total of two companies, and the winning companies will receive research funding for technology development and a two-year growth support package from Seoul Bio Hub. They will have access to shared research equipment at Seoul Bio Hub, as well as consulting for research and development and technology commercialization from Seoul Bio Hub, along with coaching and mentoring from Johnson & Johnson Innovation experts.
Applications will be accepted from the 8th to July 15th via the Johnson & Johnson Innovation-JLABS website. The final selected companies will be announced on September 29th.
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Hwang Bo-yeon, Director of Economic Policy at the Seoul Metropolitan Government, said, "We will discover promising bio and medical startups and support the development of innovative technologies that can treat various diseases and conditions by matching them with global bio healthcare companies." He added, "While supporting the growth of our companies, we will strengthen the system for discovering and supporting companies to expand the bio-medical ecosystem robustly."
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