The Ministry of SMEs and Startups (MSS) hosted the 2024 Public-Private Partnership Open Innovation Conference on November 19, spotlighting the synergy between startups and established corporations.

The conference featured two main sessions. The opening session kicked off with a ceremony and award presentation honoring ten startup representatives and 18 honorees. These awards recognized their significant contributions to fostering collaborative efforts between startups and large corporations, highlighting the importance of such partnerships in driving innovation. The session also included a ceremonial act celebrating the spirit of open innovation.

The subsequent session showcased successful collaboration case studies, with presentations from companies that excelled in the integrated competition held in October. This session also included panel discussions and expert lectures, enriching the dialogue on open innovation.

Vice Minister Kim Sung-seob of SMEs and Startups emphasized the critical role of open innovation in corporate growth, stating, “Open innovation is not only a catalyst for growth but also a cornerstone for the mutual development of large corporations and startups.” He assured continued government support to enhance collaborative success.

Highlighted collaborations included CRABLE‘s project with SK Energy, developing an AI-driven gas detection solution using autonomous driving robots to enhance safety at SK Energy’s facilities. Another notable initiative, DOWHAT‘s collaboration with Hoban Group, is advancing a non-face-to-face service platform for smart hotels, which leverages cloud technology and mobile check-in/out functionalities.

Basgenbio’s collaboration with Daewoong Pharmaceutical focuses on AI-enhanced drug development, specifically targeting cancer treatment. This partnership has facilitated groundbreaking work in drug structure analysis and simulation, paving the way for advanced clinical development of anticancer drugs. Basgenbio also boasts successful technology transfers, including a significant agreement with Yungjin Pharm for colorectal cancer treatment.

The Public-Private Partnership Open Innovation Conference aims to bridge the innovation needs between large corporations and startups, fostering an ecosystem of collaborative growth supported by government initiatives.