Johnson & Johnson Medical Korea Ltd. and Johnson & Johnson Innovation Announce Launch of Seoul Innovation QuickFire Challenge: Robotics & Digital Surgery

In Collaboration with Seoul Metropolitan Government and KHIDI

- QuickFire Challenge seeks to identify and accelerate game-changing, early-stage innovations in the areas of robotics and digital surgery from around the world. - Winners will receive up to KRW 150,000,000 (approximately US$134,000), residence at the Seoul Bio Hub, mentorship and coaching, and access to the Johnson & Johnson Innovation, JLABS (JLABS) global entrepreneurial community. SEOUL, South Korea, Aug. 13, 2018 /PRNewswire/ -- Johnson & Johnson Medical Korea Ltd. and Johnson & Johnson Innovation today announced the launch of the Seoul Innovation QuickFire Challenge: Robotics & Digital Surgery in collaboration with the Seoul Metropolitan Government and Korea Health Industry Development Institute (KHIDI). The challenge invites innovators from around the world -- including start-ups, entrepreneurs, academics, scientists, and biotech researchers -- to submit ideas for robotics and digital health solutions with the potential to help surgeons and their patients. The global competition also aims to help build a digital ecosystem in Korea and around the world where technologies enhance surgical performance, educate surgeons, and guide patients through to full recovery. Up to two winners will receive up to KRW 150,000,000 (approximately US$134,000)1 in total grants, one year of residency at the Seoul Bio Hub, one year of mentorship and coaching from experts in science and commercialization at the Johnson & Johnson Family of Companies, and access to the JLABS global entrepreneurial community. "The surgical robotics industry is growing fast, and the global market for the industry is expected to reach $12.6 billion by 20252. Korea is an emerging leader in medical device innovation with tremendous potential in the areas of robotics and digital healthcare," said Dan Wang, Head, Johnson & Johnson Innovation, Asia Pacific. "The Robotics & Digital Surgery QuickFire Challenge is a global call for submissions through which we aim to identify great ideas that can make a long-lasting and global impact." The QuickFire Challenges, launched by JLABS -- the no-strings attached incubators of Johnson & Johnson Innovation -- seek to empower and enable groundbreaking science and health solutions by encouraging students, entrepreneurs, researchers, and start-up companies, etc. to apply. The Robotics & Digital Surgery QuickFire Challenge will focus on the following innovation areas: - Pre-op: Apps, Wearables, Planning Software - Intra-op: Robotics, Visualization, Neuromonitoring, Imaging - Post-op: Sensors, Wearables, Apps Approximately five billion people around the world do not have access to safe surgery3. While patient outcomes in surgery have improved over the past decade -- driven by better materials, implant designs, and surgical techniques -- major obstacles still need to be addressed. Surgical patients continue to experience major discrepancies in success, including a 20-40% rate of failed back surgery syndrome (FBSS)4. Inconsistencies in surgical training and high rates of burnout among orthopedic surgeons5 are some of the factors contributing to variations in patient outcomes. "At the Johnson & Johnson Medical Devices Companies, innovation drives what we do, and the launch of the QuickFire Challenge provides us with a unique opportunity to further improve the standard care for patients and surgeons through collaboration with innovators in Korea and around the world in the discovery and development of digital and robotic surgery solutions." said Euan Thomson, Global Head R&D, Johnson & Johnson Medical Devices Companies. The challenge aims to improve robotics and digital surgery by combining Johnson & Johnson Innovation's unique vision for collaboration in an open innovation model with the Seoul Metropolitan Government's efforts to drive innovation and commercialize its research outcomes; KHIDI's focus on identifying and solving critical problems within the ecosystem with healthcare research and innovative solutions; and Seoul Bio Hub's ability to foster and accelerate the development and commercialization of early-stage life-science solutions in the start-up community. "Advancing technology is a tremendous opportunity that can lead the industry to dramatic improvements. An enhanced digital ecosystem will contribute to better surgical outcomes by advancing disease prediction and prevention, and improving personalized treatment and treatment efficiency," said Jae Yoo, Area Managing Director, Johnson & Johnson Medical Devices, North Asia. "Through the QuickFire Challenge, we hope to find solutions that will accelerate the progress of robotics and digital surgery in Korea and globally." The announcement marks the second QuickFire Challenge in Korea, following the launch of the first Seoul Innovation QuickFire Challenge in August 2017. The deadline to submit is October 5, 2018. For more information about the Robotics & Digital Surgery QuickFire Challenge (including the terms and conditions of entry), please visit the link below. About Johnson & Johnson Innovation Johnson & Johnson Innovation focuses on accelerating all stages of innovation worldwide and forming collaborations between entrepreneurs and Johnson & Johnson's global healthcare businesses. Johnson & Johnson Innovation provides scientists, entrepreneurs and emerging companies with one-stop access to science and technology experts who can facilitate collaborations across the pharmaceutical, medical device and consumer companies of Johnson & Johnson. Under the Johnson & Johnson Innovation umbrella of businesses, we connect with innovators through our regional Innovation Centers, JLABS, Johnson & Johnson Innovation - JJDC, Inc. and our Business Development teams to create customized deals and novel collaborations that speed development of innovations to solve unmet needs in patients. For more information please visit (link below). About Johnson & Johnson Innovation, JLABS Johnson & Johnson Innovation, JLABS (JLABS) is a global network of open innovation ecosystems, enabling and empowering innovators to create and accelerate the delivery of life-saving, life-enhancing health and wellness solutions to patients around the world. JLABS achieves this by providing the optimal environment for emerging companies to catalyze growth and optimize their research and development by opening them to vital industry connections, delivering entrepreneurial programs and providing a capital efficient, flexible platform where they can transform the scientific discoveries of today into the breakthrough healthcare solutions of tomorrow. At JLABS we value great ideas and are passionate about removing obstacles to success to help innovators unleash the potential of their early scientific discoveries. JLABS is a no-strings-attached model, which means entrepreneurs are free to develop their science while holding on to their intellectual property. JLABS is open to entrepreneurs across a broad healthcare spectrum including pharmaceutical, medical device, consumer and digital health sectors. For more information about JLABS, please visit (link below) About the Johnson & Johnson Medical Devices Companies The Johnson & Johnson Medical Devices Companies' purpose is to reach more patients and restore more lives. Having advanced patient care for more than a century, these companies represent an unparalleled breadth of products, services, programs and research and development capabilities in surgical technology, orthopedics, cardiovascular and specialty solutions with an offering directed at delivering clinical and economic value to health care systems worldwide. Learn more about our latest innovations and updates by visiting: 1 From the KRW 150 million grant, each winner will receive a KRW 70 million cash award and a KRW 5 million free space voucher which must be used toward the rent and utilities at the Seoul Bio Hub for a year 2 Reportlinker: Global Surgical Robotics Market Focus on Products, Applications, End Users, Countries, Patents, Market Share, and Competitive Landscape - Analysis and Forecast (2017-2025) 3 The Lancet Commission: Universal access to safe, affordable surgical and anesthesia care when needed saves lives, prevents disability, and promotes economic growth. 4 NCBI: Failed back surgery syndrome: current perspectives 5 NCBI: Surgeon Burnout: A Systematic Review Source : Johnson & Johnson Innovation Related Links : (link below) Press Contact Julien Dedman, [email protected], M: +852-9022-8032