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  • Amorepacific Selected 3 Startups as Primary Partners
    2020-06-25 hit 630

    Amorepacific Selected 3 Startups as Primary Partners

     

    - KITA held Amorepacific R&D Innovation Challenge on June 18th  -

     

    The Korea International Trade Association (Chairman: Kim Young-ju) announced that three companies, including Simplex, were chosen as primary partner companies for Amorepacific at the Amorepacific R&D Innovation Challenge held on June 18th.

     

    Amorepacific carried out one on one meet-ups on June 18th with seven promising startups in five fields such as materials (natural materials, ecofriendly raw materials, etc), sustainable packaging (biodegradable, plastic-free, etc), bio (microbiome meaning human-dwelling microorganisms and genetic information, etc.), digitals (wearables, augmented reality, etc),  devices (massagers, patches, etc).

     

    For this event, the seven startups were selected from 126 startups recruited through “Inobranch,” KITA’s open innovation platform with some 50 Korean and overseas enterprises and about 8,500 startups. A number of officials from Amorepacific's Technology Research Institute and Headquarters attended the meet-up, and they thoroughly assessed the technology and business feasibility of the startups.

     

    The three companies that were finally selected by Amorefacific are Simplex, which has a new drug candidate efficacy substance exploration technology utilizing artificial intelligence (AI), Barun, a start-up with edible natural oral care ingredients and formulation technology and PiQuant, which has cosmetic ingredient detection and analysis technology utilizing spectroscopy. The selected startups agreed to continue specific discussions for collaboration with Amorepacific, including technology licensing, joint research, and joint development of innovative products.

     

    R&D Director Park Young-ho of Amorepacific said, It was a very meaningful event that gave us an opportunity to discuss future beauty trends with excellent tech startups and to deliver more innovative products to customers.

     

    Park Sun-kyung, head of Startup Bridge at the Korea International Trade Association, said, With the advent of the non face-to-face era due to the outbreak of COVID-19, we look forward to seeing more active role of InoBranch, and emphasized, We will focus on serving as a bridge between large companies with full of innovation needs and competent startups who want to scale up by further innovating.” 





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