Gov’t picks JLABS Korea model for accelerator program

[Source: The Ministry of Health and Welfare]

South Korea’s Ministry of Health and Welfare announced the selection of Johnson & Johnson’s proposed JLABS (Johnson & Johnson Innovation Labs) Korea model as the key operator for the country’s global accelerator platform.

The initiative aims to commercialize the innovative value of Korean bio-venture companies with outstanding technologies, supporting their global expansion via comprehensive consulting, including attracting foreign investments.

Formed in 2012, JLABS is an accelerator organization of Johnson & Johnson with a global network of 11 locations, including eight in North America. This extensive reach positions JLABS as a strong player in fostering innovation and development in the biotechnology sector.

Sharon Chan, head of Johnson and Johnson Innovation (JLABS) APAC, was appointed to lead JLABS Korea’s founding and operation.