Korea Innovation Foundation- Built "Open Collabo Platform' to foster Global Star Venture of Daewoong Pharmaceutical! - Signed a cooperation MOU for incubating technology start-ups in the Bio sector! -

 

□ The Korea Innovation Foundation (President Yang Sung Kwang, hereinafter "Foundation") and Daewoong Pharmaceutical Co., Ltd. (CEO, Jeon Seung-Ho) have announced that they have signed a cooperative MOU to jointly discover and incubate "Hidden Startup" in INNOPOLIS on September 3.

 

ㅇ The Foundation is planning and operating a comprehensive program for technology start-ups, including mentoring for prospective founders and start-ups, holding demo days, and supporting investment attraction through the accelerator support project.

 

□ Daewoong Pharmaceutical Co., Ltd. currently has the largest overseas subsidiaries and branch offices among domestic pharmaceutical companies and is one of the major domestic pharmaceutical companies that has established cooperative partnership with more than 100 global pharmaceutical companies.

 

ㅇ Daewoong Pharmaceutical Co., Ltd. has completed its final registration as an accelerator this year and is pushing to expand openly collaborate as a win-win cooperation with small and medium-sized venture companies in the Bio and pharmaceutical sectors.

 

ㅇ In addition, Daewoong Pharmaceutical is planning to establish a DIC (Daewong Innovation Cube) center, which is highly anticipated to serve as a "Special assistant" leading the success of promising pharmaceutical bio start-ups.

* DIC Center: A space for fostering start-ups by providing work spaces, laboratories, and shared equipment.

 

□ Meanwhile, the Foundation and Daewoong Pharmaceutical will jointly pursue a "Hidden Start-up" excavation and incubation program through this MOU.

ㅇ The Foundation will support public technology discovery and linkage, investment attraction support, and IR education, while Daewoong Pharmaceutical will evaluate marketability and business feasibility for startups,enhance their business models, and provide smart workspace and global network.

* Smart Workspace: Smart office, Lab, Pilot production facilities, etc.

 

□ Yang Sung-Kwang, the president of the Foundation, said, "Start-ups in INNOPOLIS have many difficulties in investment, consulting and education compared to those in the metropolitan area. With Daewoong Pharmaceuticals, we will actively support to discover and nurture innovative startups in the bio field within INNOPOLIS to create quality jobs”