Cambridge Enterprise opens new hub South Korea

Leaps, a Cambridge Enterprise initiative, is creating a bridge between Cambridge and key innovation hotspots around the world. The initiative will give selected Cambridge Enterprise portfolio companies access to new markets, talent and investment, opening the pathways for deep collaborations in these settings. With eleven companies already joining the initiative, Seoul-Incheon is the third landing spot chosen by Cambridge Enterprise. 

Working with Yonsei Science Park and iCREATE, Seoul-Incheon joins London and New York as part of the Leaps programme. This new partnership will open the door to major strategic partners such as Samsung, SK, Hyundai or LG for Cambridge companies. 

Jim Glasheen, Cambridge Enterprise Chief Executive said: “Bringing Cambridge innovations to the heart of South Korea’s tech hub will undoubtedly help foster new collaborations between two vibrant ecosystems. Exposure to new ecosystems is essential for the healthy growth of startups. In London, New York and Seoul, our partners in each location will act as bridges, enabling the companies to become a ‘local’ within these ecosystems, creating the meaningful connections that will allow these companies to succeed.”

Raphael Peralta, CEO and Co-founder of Cambridge spinout CardiaTec Bio, the first company participating in the Seoul-Incheon Leap, said: "Joining the Seoul-Incheon Leap gives CardiaTec a base in one of the world's fastest-growing biopharma ecosystems. Being based in Songdo, alongside Yonsei and Korea's leading pharmaceutical companies, hospitals and investors, will help us build partnerships to develop large-scale human heart tissue multiomics datasets, paired with real-world healthcare data, to drive the next generation of cardiovascular therapies that can transform patients' lives."

For South Korean companies, it will mean transformative global opportunities, especially for spinouts and ventures originating from Yonsei University. They will be able to participate in Cambridge’s tech cluster, as part of the supportive ecosystem at St John’s Innovation Centre. 

Jae-Ho Cheong, Senior Vice President, Office of Yonsei Science Park Project/Dean, Institute for Convergence Research and Education in Advanced Technology, (iCREATE), said: “Beyond simply hosting Cambridge companies, this launch is highly significant as it establishes a vital bridgehead for Yonsei startups and researchers to directly receive practical technology commercialisation and investment support in Cambridge—including workspace, local VC investor relations, one to one tailored mentoring and global industry-academic-research networking.”

"We will build a successful open-innovation model where the outstanding research achievements of both nations lead directly to global market expansion and investment attraction.”

With Cambridge ranked as one of the world’s top cities for innovation output per capita, the deep connections with London, New York and Seoul look to scale its impact though connection with powerful partners. The aim is to boost Cambridge-born companies by nurturing these international collaborations and help translate research from the University of Cambridge into practical applications.

In London, the companies participating are biotech company Xterna, therapeutics company GastrobodyTx, health monitoring company auryx, flat optics company Phaseshift and Cosysense, which is focused on Physical AI automation. 

In New York, they are life science tools company Verinnogen, brain cancer pioneer Streamtrix, neuroimmunology gene therapy company Aila Biotech, Senesys.Bio, which is targeting age-related diseases and integrated photonics company Wave Photonics. Seoul’s first participating venture is CardiaTec Bio. 

Adapted from a news story published by Cambridge Enterprise.