Johnson & Johnson Innovation, the strategic venture arm of the US health care company, is looking to recruit promising health care and biopharma technology startups in South Korea to its inaugural venture acceleration program.

J&J Innovation Asia Pacific said Thursday that it had partnered with the Seoul Metropolitan Government and the Korea Health Industry Development Institute to launch the Seoul Innovation QuickFire Challenge.

The program seeks to attract early stage innovation and solutions in the area of therapeutics, medical devices and health technologies for oncology, neuroscience, immunology, cardiovascular and metabolic diseases, infectious diseases and bone and joint diseases. 


The competition is open globally to interested entrepreneurs, academics, biotech researchers and startups. Up to two winners will be awarded prizes including a combined grant of up to 150 million won ($134,000).

The winners will also be offered residency at Seoul Bio Hub for up to two years and mentorship and coaching from Johnson & Johnson Innovation and KHIDI for one year. At least one core member of the winning teams must reside in the Seoul Bio Hub for no less than one year.

“We know that innovation can happen anywhere, and through the Seoul Innovation QuickFire Challenge Johnson & Johnson Innovation is here in Korea to identify great ideas and to accelerate game-changing innovation with key ecosystem players,” Dong Wu, head of the Asia Pacific Innovation Center at Johnson & Johnson Innovation, said in a statement.

By Sohn Ji-young (jys@heraldcorp.com)