LKB Pyeongsan Health Bio Center and Seoul Center for Creative Economy and Innovation Sign MOU

Mutual Cooperation to Discover and Foster Innovative Startups in Bio and Deep-Tech

(left) Lee Yeonggeun, CEO of the Seoul Center for Creative Economy and Innovation Foundation, (center) Kim Sudong, Chairman of LKB Pyeongsan Health Bio Center, (right) Lee Uryong, Chairman of LKB Pyeongsan Health Bio Center

Seoul Center for Creative Economy and Innovation Foundation (CEO Lee Younggeun) and LKB Pyeongsan Health Bio Center (Chairmen Lee Uryong and Kim Sudong, hereinafter referred to as LKB Pyeongsan HB) signed a memorandum of understanding (MOU) on the 10th at the Seoul Center for Creative Economy and Innovation to jointly identify and nurture innovative startups in the bio, healthcare, and deep-tech sectors.

This agreement was prepared to combine the resources and capabilities of the two organizations in order to accelerate investment attraction and global expansion for promising startups, and to contribute to innovative growth in the domestic startup ecosystem. In particular, specialized institutions in the bio and medical fields, such as Ajou University Advanced Medical Bio Research Institute, Ajou University Convergence Medical Device Clinical Trial Center, and Kaiser Startup Academy, joined as co-signatories, forming a powerful support network that spans the private sector, government, and academia.

Under the agreement, the two organizations plan to pursue comprehensive collaboration in areas including: identifying excellent startups and jointly nurturing them (including regulatory approval consulting); joint investment and fund linkage (Seed/Pre-A investment and establishment of Co-GP funds); joint research and technology commercialization (public technology transfer and support for clinical trials); support for global expansion by leveraging overseas VC/CRO networks; and hosting open innovation demo days and technology exchange meetings.

Specifically, the Seoul Center for Creative Economy and Innovation will provide a public startup incubation platform and an investment network linked to the TIPS program, while LKB Pyeongsan HB will be responsible for specialized technology commercialization consulting, including bio and healthcare technology evaluation, clinical and regulatory approval advisory services, raw material development, and quality control.

Lee Younggeun, CEO of the Seoul Center for Creative Economy and Innovation Foundation, said, "The combination of Seoul Center for Creative Economy and Innovation's public investment platform and LKB Pyeongsan HB's specialized technology infrastructure will provide a practical springboard for growth for bio startups," adding, "In particular, as a startup hub organization, we will work together with LKB Pyeongsan HB to identify growth opportunities for bio and deep-tech startups."

Kim Sudong, Chairman of LKB Pyeongsan Health Bio Center, emphasized, "Going forward, the revitalization of Korea's startup ecosystem will become even more important," and added, "We will faithfully serve as a bridge in discovering practical success models for innovation in bio and deep-tech."

In particular, a total of six specialized institutions in the bio and medical fields, including Ajou University Advanced Medical Bio Research Institute, joined this agreement as co-signatories, establishing a robust support system.

The co-signing institutions are: Ajou University Advanced Medical Bio Research Institute; Ajou University Convergence Medical Device Clinical Trial Center; Ajou University Medical Center Clinical Regulatory Science Center; Advanced Medical Bio Research Institute; Advanced Medical Device Validation Research Institute; and Kaiser Startup Academy.

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