TREND FOCUS 2
The University of Utah Asia Campus
and Center for Medical Innovation Collaborate
with Local Partner
“Signing MOU with Inha University Hospital on Creating Global Medical Innovation Ecosystem”
The University of Utah Asia Campus signed a business agreement with Inha University Hospital on June 2 to create a global medical innovation ecosystem. The University of Utah Asia Campus, The University of Utah Center for Medical Innovation(CMI), and Inha University Hospital plan to accelerate the establishment of a start-up ecosystem in the life sciences and medical technology fields and serve as a bridge between Korea and America in the corresponding fields. Specifically, the parties of the MOU will focus on developing open communication channels through the infrastructure for finding new markets, business consultation and mentoring, exchange of entrepreneurs and researchers in the fields of life science and medical technology projects, and sharing of best practices of start-ups, establishing joint educational curriculum and educational events, and supporting the acquisition of the US Food and Drug Administration(FDA) approvals required for overseas expansion.
The University of Utah CMI is recognized for the highest service quality among university medical centers in America, as proven by 155 biomedical patent applications and 242 technology developments.
The University of Utah is regarded as the world’s top university according to various indicators related to start-ups, innovations, and economic outputs. It has produced the fourth-largest number of entrepreneurs in America. With the introduction of the ‘CMI Asia,’ the University of Utah plans to implement strategies for successful global high-tech bio start-ups, provide start-up education specialized in biomedical, and introduce master’s programs, and support the acquisition of US Food and Drug Administration(FDA) approval for the overseas expansion of the domestic medical industry. Specifically, the university plans to establish an idea lab(mentoring and education by experts) and a launching lab(to support technology commercialization) in IGC to initiate the first phase of the CMI this year. Also, for the second phase, the university will establish an R&D lab in connection with industry, academy, research institute, and hospital within IFEZ, including Incheon Techno Park and Songdo Zone 11, within two to three years. The establishment of the University of Utah CMI promotes the synergy effect with Songdo Bio-cluster, which is attracting global attention, and the collaboration with Incheon Startup Park, which was established to become the ‘Korean Silicon Valley.’ LEE Won-jae, the Commissioner of the Incheon Free Economic Zone Authority, said, “The opening of CMI in Songdo is expected to contribute tremendously to the development of the Songdo Bio-cluster through collaboration between start-ups and bio companies,” and emphasized, “We will provide every support for the development of CMI and fostering global talent.”