Johnson & Johnson Innovation Launches Singapore QuickFire Challenge with the Singapore Economic Development Board
Following launch of first-of-its-kind collaboration between Johnson & Johnson Innovation – JLABS and Singapore's Economic Development Board, the Singapore QuickFire Challenge invites innovators to pitch for grant funding from a pool of $100,000 for further development.
SINGAPORE, Nov. 1, 2023 /PRNewswire/ -- Johnson & Johnson International (Singapore) Pte. Ltd. announced today at the Singapore Week of Innovation and Technology (SWITCH) the call for participation in the Singapore QuickFire Challenge (QFC), where innovators with the best potential solution will be awarded grant funding from a pool of $100,000 for further development.
The announcement follows the launch of a first-of-its-kind, "universal" collaboration between Johnson & Johnson Innovation – JLABS (JLABS) and the Singapore Economic Development Board (EDB) that will embed the services and resources of JLABS to accelerate innovation within Singapore's life science ecosystem and the wider Asia Pacific region, under a pioneering new collaboration model for Johnson & Johnson Innovation.
"In recognition of Singapore's thriving innovation ecosystem, collaborative avenues and expertise in science and technology, we are proud to collaborate with EDB to provide companies with access to our new, collaborative 'universal' JLABS model that builds on our legacy of driving innovation with external collaborators," said William N. Hait, M.D., Ph.D., Executive Vice President, Chief External Innovation and Medical Officer, Johnson & Johnson. "Our commitment to investing in Singapore's life science ecosystem is an affirmation of our unwavering dedication to scientific progress, healthcare excellence and sourcing innovation wherever it originates."
Under this new collaboration, JLABS will support companies in Singapore to help accelerate their early-stage discoveries into innovative medicines, medical technologies, and healthcare solutions. JLABS will work with local incubators and other strategic partners in the ecosystem on venture and talent development offerings to stimulate employment and commercialization opportunities for these early-stage companies.
"This a critical milestone for Johnson & Johnson Innovation. It deepens our commitment to support early innovation in the life science innovation ecosystem with a customized approach for Singapore that leverages 12 years of experience, a credible, recognized global brand, and the largest global life science network of startups, investors, and partners," said Melinda Richter, Global Head of JLABS.
Johnson & Johnson Innovation has supported a global network of open innovation ecosystems, enabling and empowering emerging companies with the knowledge, experience, partnerships, and venture connections across a broad healthcare spectrum, including the pharmaceutical and medical technology sectors. JLABS has supported nearly 1,000 companies and engaged more than 100 investment firms through its Investor Hub.
The following companies are the first to receive Universal JLABS services and resources through this new collaboration:
About the company
Kinexcs focuses on developing a smart recovery management solution for patients undergoing musculoskeletal surgeries combining wearables with AI-driven health monitoring system.
ChemLex focuses on developing an AI-driven automatic platform to redefine chemical synthesis.
Avecris focuses on developing SPRING DNA, a novel non-viral DNA-based gene delivery platform for long-lasting and cell-type specific gene expression, offering the potential to transform gene therapy and next-generation genetic vaccination
Alt Atlas focuses on developing unique stem cell lines (iPSCs) with a breakthrough mRNA technology, combined with an AI digital manufacturing platform to advance drug development, disease modelling & cell therapy.
Rebee Health focuses on developing a Tele-health ecosystem combining wearable device with AI-driven data analysis to support an efficient patient management system for physical rehabilitation.
Respiree focuses on developing a unique patented wearable solution platform to real-time identify chronic lung dysfunctions for early diagnosis and treatment.
Zymedi focuses on developing novel therapeutic treatment for various inflammatory diseases through targeting aminoacyl tRNA synthetases (ARSs).
Qritive focuses on developing an AI-powered platform of solutions that provides histopathologic diagnosis of cancer with higher efficiency, access, and quality, for better patient outcome.
Singapore QuickFire Challenge
The Singapore QuickFire Challenge was announced at SWITCH, inviting innovators from across the globe who have an active interest in the Singapore innovation ecosystem to submit groundbreaking ideas, technologies, or potential healthcare solutions aiming to improve the trajectory of outcomes for patients.
The innovator(s) with the best potential solution will receive grant funding from a total pool of $100,000, access to the global JLABS network.
Applications are currently being accepted from biotech, pharmaceutical, medical device, and digital health companies. Companies and innovators interested in JLABS are invited to visit https://jnjinnovation.com/locations/jlabs/jlabs-singapore.
Applicants to the Singapore QuickFire Challenge are invited to apply at https://jji.jnj/SG2023 by January 26, 2024.
* Subject to terms and conditions of applicable QuickFire Challenge and execution of an award agreement
About Johnson & Johnson Innovation
Johnson & Johnson Innovation works across the pharmaceutical and medical technology sectors to accelerate early-stage, transformational solutions by catalyzing the best ideas, wherever they are in the world. We do this by harnessing our deep scientific capabilities coupled with a wide range of tools, including customized deal structures, company creation, incubation and startup services, capital investments and other innovative business models that aim to meet the diverse needs of entrepreneurs, scientists and emerging companies. Our goal is to help life science and health technology innovations thrive through collaboration and partnership with the global ecosystem, so that together we can change the trajectory of human health. Meet our passionate team of science and technology experts and learn how to collaborate with us at www.jnjinnovation.com.
About Johnson & Johnson Innovation QuickFire Challenge (QFC)
The Johnson & Johnson Innovation QuickFire Challenge (QFC) is a global mechanism to build market awareness around a certain topic, crowdsource innovators to submit ideas, develop a landscape of workable solutions and pick high-potential ideas to support with funding, mentorship, and resources.
Johnson & Johnson Innovation leverages its fully integrated marketing engine, online application portal, templates, toolkits, network, and data collection tools to amplify the goals of each Challenge, attract the best innovations and ideas globally, manage a streamlined review process, and facilitate the amplification of the awardee.
Cautions Concerning Forward-Looking Statements
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson Innovation LLC, Johnson & Johnson International (Singapore) Pte. Ltd., and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: the potential that the expected benefits and opportunities related to the collaboration may not be realized or may take longer to realize than expected; challenges inherent in new product development, including the uncertainty of clinical success and obtaining regulatory approvals; competition, including technological advances, new products and patents attained by competitors; uncertainty of commercial success for new products; the ability of the company to successfully execute strategic plans; impact of business combinations and divestitures; challenges to patents; changes in behavior and spending patterns or financial distress of purchasers of health care products and services; and global health care reforms and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 1, 2023, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and in Johnson & Johnson's subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Johnson & Johnson Innovation LLC, Johnson & Johnson International (Singapore) Pte. Ltd. and Johnson & Johnson do not undertake to update any forward-looking statement as a result of new information or future events or developments.
SOURCE Johnson & Johnson Innovation LLC
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