SEOUL, South Korea, Nov. 5, 2019 /PRNewswire/ -- Janssen Korea Ltd. and Johnson & Johnson Innovation LLC, in collaboration with the Seoul Metropolitan Government and Korea Health Industry Development Institute (KHIDI), today announced the awardees of the Seoul Innovation QuickFire Challenge in Smart Healthcare at the Seoul Biomedical International Conference.
The awardees, ImagoWorks and Sibel, Inc., will receive combined grant funding totaling KRW150,000,000 (approximately US$134,000), one year of residency at the Seoul Bio Hub, one year of mentorship and coaching from experts in science, technology and commercialization by the Johnson & Johnson Family of Companies as well as access to the JLABS global entrepreneurial community.
- ImagoWorks: Seoul-based ImagoWorks, a KIST spin-off company, applies artificial intelligence and geometrical modeling technology in its innovative 3D medical/dental software platform aiming to improve surgical outcomes.
- Sibel, Inc.: Illinois-based Sibel, Inc. is developing breakthrough, bio-integrated sensors with the potential to allow for full vital signs monitoring in patients of all ages and sizes.
"The Asia Pacific region is a hotbed of innovation, and entrepreneurs focused on the life sciences face many hurdles when working to bring their ideas through to commercialization," said Sharon Chan, Head of JLABS @ Shanghai, Johnson & Johnson Innovation – JLABS. "The aim of the Seoul Innovation QuickFire Challenge in Smart Healthcare is to identify and help to accelerate promising early-stage health tech innovations with the potential to make a long-lasting, positive impact on health. With our collaborators, we aim to provide these innovators with the resources and mentoring needed to advance their ideas into breakthrough solutions for patients in Korea and around the world."
The Seoul Innovation QuickFire Challenge in Smart Healthcare was launched in July 2019 to encourage global entrepreneurs, researchers, students, and innovators to submit ideas for the following technology-enabled innovation areas:
- Big data, artificial intelligence, blockchain
- 3D printing, Internet of Things (IoT), sensors, wearables
- Personalized medicine, companion diagnostics
"The quality of the QuickFire Challenge applications we received reflects the tremendous innovative spirit and breadth of expertise within the life science ecosystem across Korea," said Jenny Zheng, Area Managing Director, Janssen North Asia. "We are proud to name ImagoWorks and Sibel Inc. the Smart Healthcare QuickFire Challenge awardees and look forward to supporting their health tech innovations."
The QuickFire Challenges are managed by Johnson & Johnson Innovation – JLABS, a "no strings-attached" global network of incubators, and seek to empower and enable groundbreaking science and health solutions.
For more information about the QuickFire Challenges, please visit: https://jlabs.jnjinnovation.com/quickfire-challenges.
About Johnson & Johnson Innovation
Johnson & Johnson Innovation LLC focuses on accelerating all stages of innovation worldwide and forming collaborations between entrepreneurs and Johnson & Johnson's global healthcare businesses. Johnson & Johnson Innovation provides scientists, entrepreneurs and emerging companies with one-stop access to science and technology experts who can facilitate collaborations across the pharmaceutical, medical device and consumer companies of Johnson & Johnson. Under the Johnson & Johnson Innovation umbrella of businesses, we connect with innovators through our regional Innovation Centers; Johnson & Johnson Innovation – JLABS; Johnson & Johnson Innovation – JJDC, Inc.; and our business development teams to create customized deals and novel collaborations that speed development of innovations to solve unmet needs in patients. JLABS provides the laboratories, expertise, education, tools and resources needed to help life science startups thrive, all with no strings attached. A Johnson & Johnson Innovation Center for Device Innovation at the Texas Medical Center (CDI @ TMC) has been established to accelerate the development of medical devices. For more information about Johnson & Johnson Innovation, please visit: www.jnjinnovation.com.
About Johnson & Johnson Innovation – JLABS
Johnson & Johnson Innovation - JLABS (JLABS) is a global network of open innovation ecosystems, enabling and empowering innovators across a broad healthcare spectrum including pharmaceutical, medical device, consumer and health tech sectors to create and accelerate the delivery of life-saving, life-enhancing health and wellness solutions to patients around the world. JLABS achieves this by providing the optimal environment for emerging companies to catalyze growth and optimize their research and development by opening them to vital industry connections, delivering entrepreneurial programs and providing a capital-efficient, flexible platform where they can transform the scientific discoveries of today into the breakthrough healthcare solutions of tomorrow. At JLABS, we value great ideas and are passionate about removing obstacles to success to help innovators unleash the potential of their early scientific discoveries. JLABS is a no-strings-attached model, which means entrepreneurs are free to develop their science while holding on to their intellectual property. JLABS also produces QuickFire Challenge campaigns to seek out the best science. For more information, visit https://jlabs.jnjinnovation.com or follow @JLABS.
About the Janssen Pharmaceutical Companies of Johnson & Johnson
At Janssen, we're creating a future where disease is a thing of the past. We're the Pharmaceutical Companies of Johnson & Johnson, working tirelessly to make that future a reality for patients everywhere by fighting sickness with science, improving access with ingenuity, and healing hopelessness with heart. We focus on areas of medicine where we can make the biggest difference: Cardiovascular & Metabolism, Immunology, Infectious Diseases & Vaccines, Neuroscience, Oncology, and Pulmonary Hypertension. Learn more at www.janssen.com. Follow us at www.twitter.com/JanssenGlobal. Janssen Korea Ltd. is one of the Janssen Pharmaceutical Companies of Johnson & Johnson.
 From the KRW150 million grant, each awardee will receive a KRW 75 million grant including one-year mandatory residency, which must be used toward the rent and utilities at the Seoul Bio Hub for a year.
 Sharon Chan is employed by Johnson & Johnson (Hong Kong) Limited.
 Jenny Zheng is employed by Janssen Korea Ltd.
SOURCE Johnson & Johnson Innovation LLC