Seoul Innovation QuickFire Challenge

Seoul Innovation QuickFire Challenge

Challenge ended

KRW 150,000,000*

Digital Health
Medical Device
Therapeutics

Winners

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GPOWER Inc. is an IoT skincare company providing hardware and software solutions to help monitor, manage and improve skin health.

Company website : www.mybarrierskin.com

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Nu Eyne is a medical device company that focuses on treating ophthalmological disorders, such as dry eye syndrome and eye pain, by applying neuromodulation and tissue engineering.

Company website: www.nueyne.com

The Challenge

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Johnson & Johnson Innovation, JLABS (JLABS) in collaboration with Seoul Metropolitan Government (SMG), Korea Health Industry Development Institute (KHIDI),  Janssen Korea Ltd. and Johnson & Johnson Medical Korea Ltd. have launched the Seoul Innovation QuickFire Challenge to attract global game-changing, early stage innovations. Two winners with the best idea, technology, or solution that will address a health need for the world's population will be a receipt of up to KRW 150,000,000 (approximately US$134,000) in grant funding, entrance to the Seoul Bio Hub (each winner will receive KRW 70,000,000 cash award and a space voucher for KRW 5,000,000 which may be used toward the rent and utilities at the Seoul Bio Hub), and a year of mentorship and coaching.

Rewards and benefits

KRW 150,000,000*
  • *in funding for up to two winners
  • Entrance to the Seoul Bio Hub
  • (*each winner will receive KRW 70,000,000 cash award and a space voucher for KRW 5,000,000 which may be used toward the rent and utilities at the Seoul Bio Hub)
  • A year of mentorship and coaching from Johnson & Johnson Innovation and KHIDI

Areas of interest

This global competition will award the person or team(s) who submits the best idea, technology, or solution focused in the following areas:

  • Health technologies
  • Medical devices
  • Therapeutics

In the following sectors:

  • Bone & join disease
  • Cardiovascular and metabolic disease
  • Immunology
  • Infectious disease
  • Neuroscience
  • Oncology

Why this challenge matters to us

At Johnson & Johnson Innovation, we believe a good idea can come from anywhere, and it’s our goal to find new and innovative technologies that provide solutions to patients from across the world. Working together, we can spark the next great idea that will change the trajectory of health. Seoul, Korea has a robust healthcare innovation ecosystem and Johnson & Johnson is excited to be a part of it through this QuickFire Challenge.

Frequently Asked Questions

What is being awarded and to how many innovators/companies?

Up to two winners will be awarded a combined KRW 150,000,000 & entrance to the Seoul Bio Hub. Each winner will receive KRW 70,000,000 cash award and a space voucher for KRW 5,000,000 which may be used toward the rent and utilities at the Seoul Bio Hub.

Where do I apply?

You can apply through https://jnjawards.fluidreview.com/

Who is eligible to apply?

We encourage applications from everyone interested in the Seoul Innovation QuickFire Challenge from across the globe; however, per the terms and conditions, not all applicants may be eligible to win the Seoul Innovation QuickFire Challenge.

Applicants may be individuals, entrepreneurs, academics, biotech researchers or an early-stage company that is less than 60 months old.

Applicant must not be in default of payment of dues owed to any financial institutions and/or default in payment of any national and/or local taxes in South Korea.

While all potential applicants are encouraged to apply, those that are Health Care Providers (“HCPs”), Government Officials (“GOs”) (see definitions below), which for purposes here include any individual who is a “public official” as defined under the Act on Prohibition of Improper Requests and Provision/Receipt of Money or Valuables, or any organization affiliated with either, will be subjected to additional review, and may not be ultimately eligible to continue with the application and selection process.

Definitions:

Government Official or “GO” means any official or employee of a government agency or instrumentality of the government including but is not limited to a political party, party official or candidate, or public international organizations. It also includes individuals representing himself or herself as a GO, for example, a customs official, inspector, auditor, investigator, elected official, or employee of a government ministry or agency.  Note that this definition includes agents or employees of some non-governmental (NGO) organizations where those organizations perform quasi-governmental services such as distribution of drugs and medical devices or delivery of health care services, an individual who is an agent or consultant to a government agency, or provides a primary business address at a government facility, uses a military title  or rank, supplies an email address associated with a government entity or is otherwise known or believed to be a government employee. Health Ministries and government-owned hospitals often employ HCPs who may be GOs under local law. A private HCP that provides consulting services or otherwise acts as an agent of the government, these individuals should be considered Government Officials. It includes any individual who is a “public official” as defined under the Act on Prohibition of Improper Requests and Provision/Receipt of Money and Valuables of Korea.

“Health Care Provider” or “HCP” means:

  • All physicians; and 
  • Any other individual, institution or entity with the ability to prescribe, acquire or influence the prescription or acquisition of the Johnson & Johnson (including its affiliates and subsidiaries) products or services at issue, and either of the following: 
  • The products at issue are regulated or registered as medicinal products or devices (or their equivalents) in the applicable country; or
  • The products or services at issue are subject to reimbursement by government or third parties; or, are offered for sale with products or services subject to such reimbursement.

Examples of HCPs -- depending on the nature of the products or services at issue -- may include, but are not limited to, doctors, nurses, physician assistants, pharmacists, other para-medical staff, members of product formulary committees, health economists, key opinion leaders including scientists and/or PhD’s, clinical investigators and researchers, administrative and management employees of private and public hospitals, HCPs-in-training and medical societies.

What sectors are you looking for?

Healthcare solutions from across the globe in the following areas::

  • Health technologies
  • Medical devices
  • Therapeutics

In the following sectors:

  • Bone & join disease
  • Cardiovascular and metabolic disease
  • Immunology
  • Infectious disease
  • Neuroscience
  • Oncology
What are the specific criteria for application?

All applicants must outline their interest in Seoul, South Korea, including plans to work in Seoul and engage with the local ecosystem as well as how the mentorship can critically support their innovation. Applicants may be individuals, entrepreneurs, academics, biotech researchers or an early-stage company that is less than 60 months old and must not be in default of payment of dues owed to any financial institutions and/or default in payment of any national and/or local taxes in South Korea.

Do applicants have to reside in Korea in order to apply?

No, this is a global challenge. However, if selected as a winner or finalist, at least one core team member of the applicant company must reside in the Seoul Bio Hub for no less than 1 year (each winner will receive a space voucher for KRW 5,000,000 which may be used toward the rent and utilities at the Seoul Bio Hub).

Can I submit supporting documents (for example a video) as part of my application?

You will have the opportunity and are encouraged to upload supporting materials such as slide decks, research papers, and videos as part of your application. You may submit a video along with your typed responses. Maximum length is 2 minutes.

Is it ok if some of the information I submit is confidential?

Do not submit confidential information. Only non-confidential information should be submitted.

*For further information on eligibility for this QuickFire Challenge, please refer to the Terms & Conditions presented in your application form.

Application process

Solutions will be evaluated by a panel of reviewers and judges on their ability to meet the following criteria:

  • Potential impact
  • Uniqueness of solution & level of competition in current market
  • Quality & feasibility of technology
  • Team credibility & capabilities
  • Clarity of plan: Milestones for the next 12 months
  • Idea submission outlines interest in the innovation ecosystem in Seoul, South Korea

Deadline to apply is September 29, 2017
Winner(s) will be announced in December.

Timeline

KST
Applications Open
KST
Submission Deadline
KST
Judging Process Begins
KST
Winners Announced at Seoul Bio Hub

About Johnson & Johnson Innovation

Johnson & Johnson Innovation 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 - JLINX, Johnson & Johnson Innovation – JJDC and our Business Development teams to create customized deals and novel 4 collaborations that speed development of innovations to solve unmet needs in patients. For more information, visit www.jnjinnovation.com or follow @JNJInnovation.

 

About Johnson & Johnson Innovation, JLABS

Johnson & Johnson Innovation, JLABS (JLABS) is a global network of open innovation ecosystems, enabling and empowering innovators 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 is open to entrepreneurs across a broad healthcare spectrum including pharmaceutical, medical device, consumer and digital health sectors.


JLABS currently has nine locations in innovation hot spots across North America and produces entrepreneurial programs and campaigns to seek out the best science, like the QuickFire Challenges around the globe. The JLABS flagship opened in 2012 in San Diego at Janssen's West Coast Research Center, and since then, has established two locations in San Francisco - one through a collaboration with the California Institute for Quantitative Biosciences (QB3) and a second standalone facility in South San Francisco.  JLABS is also located in Boston through a collaboration with LabCentral, in Lowell, Massachusetts through a collaboration with UMass, in Houston through a collaboration with the Texas Medical Center (TMC), in Toronto through a collaboration with the Ontario Government and the University of Toronto and a new JLABS @ NYC (in collaboration with the New York Genome Center -opening in 2018).  For more information about JLABS, please visit www.jlabs.jnjinnovation.com.

 

About Janssen Pharmaceutical Companies

At the Janssen Pharmaceutical Companies of Johnson & Johnson, we are working to create a world without disease. Transforming lives by finding new and better ways to prevent, intercept, treat and cure disease inspires us. We bring together the best minds and pursue the most promising science. We are Janssen. We collaborate with the world for the health of everyone in it. Learn more at www.janssen.com/korea .


About the Johnson & Johnson Medical Devices Companies

The Johnson & Johnson Medical Devices Companies’ purpose is to reach more patients and restore more lives. Having advanced patient care for more than a century, these companies represent an unparalleled breadth of products, services, programs and research and development capabilities in surgical technology, orthopaedics, cardiovascular and specialty solutions with an offering directed at delivering clinical and economic value to health care systems worldwide.

 

About Seoul Metropolitan Government (SMG)

Seoul is a global city located at the center of Northeast Asia characterized by easy access to metropolitan cities around the world and convenient living conditions, particularly with nine (9) subway lines, 6,000 bus stops, and 22 international schools.

The Seoul Metropolitan Area is an optimal location to foster technology-oriented venture firms as it houses more than 20,000 research institutes, 139 universities, and 133 general hospitals, concentrating top-caliber workforce and technology in a single location.

The Hongneung Biomedical Cluster, home to Seoul Bio Hub, which is slated to open in september 2017, houses national research institutes (KIST,etc.), research-oriented hospitals, and universities. The Seoul Metropolitan Government plans to offer facilities and equipment for the fast growth of technologically advanced startups and help businesses, researchers, and businessmen develop and commercialize innovative technologies via support in investment, administration, and information services.

 

About Korea Health Industry Development Institute (KHIDI)

KHIDI is a government-affiliated institution which performs professional and systematic support to develop domestic healthcare industry and enhance healthcare services. Since its establishment in 1999, KHIDI has led expansion of healthcare research and development investment and building competitiveness of Korea's healthcare industry, i.e., health services, pharmaceuticals, medical devices, food and beauty-cosmetic. KHIDI is designated as an operating body of Seoul Bio Hub, and plans to utilize its infrastructure and network to facilitate cooperation with relevant stakeholders. For more information, please visit http://www.khidi.or.kr/eps.

 

About Seoul Bio Hub

Seoul Bio Hub, located in northern Seoul and slated to begin operations in September 2017, is a life science innovation center sponsored by SMG and operated by KHIDI. The key function is to support early stage life science companies’ growth and commercialization by providing full-service wet laboratory and office spaces, shared equipment, networking events, training programs, and investor relation opportunities. As the only biotech startup platform located in Seoul, it leverages its geographical advantages to accelerate the startup ecosystem, by facilitating cooperative networks among research-driven hospitals, universities, national research institutes, and venture capitals within close vicinity. For more information, please visit http://www.seoulbiohub.kr.

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