A Cambridge Enterprise Initiative called Leaps is embedding Cambridge-based companies in complementary ecosystems, creating a bridge between Cambridge and key geographical hotspots.
The initiative will give selected 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, announced today.
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. For South Korean companies, it will mean transformative global opportunities, especially for spinouts and ventures originating from Yonsei University. It also makes Cambridge accessible in return, with the ability to be 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 commercialization 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.”
Raphael Peralta, CEO and Co-founder of 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.”
Announcement of the new South Korea Leap in Seoul on 6th November. Credit: Yonsei Science Park
Eleven entrepreneurial companies are engaged in the initiative. In New York, Cambridge Enterprise partnered with Janus Property Company, enabling Cambridge ventures to access a landing spot in the New York innovation triangle (Janus Factory District, Columbia University and City University of New York) in the centre of Manhattan.
Ioannis Prattis, CEO and Co-founder of Senesys.Bio, part of the New York Leap cohort said:
“The New York Leap provides Senesys.Bio with a crucial foothold in the US biopharma market, accelerating the commercialisation of our targeted drug delivery platform for age-related diseases. As a founder, the immediate immersion into this dynamic ecosystem is invaluable for forging the strategic and commercial partnerships we need to scale globally.”
The London Leap is born from a collaboration with strategic partners Phoenix Court, Balderton and the BioInnovation Institute Foundation (BII). This first Leap has allowed these entrepreneurs to be embedded within the dynamic London ecosystem, which attracts not only international capital, but has a reputation for continued unicorn creation.
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.”
With Cambridge being ranked as one of the world’s top cities for innovation output per capita in a report in May, the deep connections with London, New York and Seoul look to scale our impact though connection with powerful partners. The aim is to boost Cambridge-born companies, nurturing these international collaborations, and help translate the world-renowned research at the University of Cambridge.
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, being the latest addition, is kickstarting with techbio venture: Cardiatec Bio.
Companies have been invited to apply and then chosen on a competitive basis by the Leap partners and the advisory boards formed by investors and serial entrepreneurs with a global presence in all three Leaps locations.
