Earticle

Biotechnology in Korea is growing fast as a core industrial technology which is able to create the national resources in the 21st century, and the government has recently selected biotechnology as a growth power technology and concentrated the effort to secure international competitiveness in biotechnology area through nation-wide investment and support. In Korea Research Institute of Bioscience & Biotechnology (KRIBB), which is the only government-funded life science research institute, has been established in 1985, and successfully operating in both technology transfer and spin-off by accomplishing the annual out-licensing contract fee of USD 35 million in 2009, and 6 companies out of total 23 spin-offs were listed in stock market. Once the IP or technology is ready for market, KRIBB TLO(Technology Licensing Office) determines whether to create out-licensing, joint-venture, and spin-off by the consideration of scientific value, market situation and business opportunity for the IP or technology. This presentation introduces the detailed examples of a KRIBB’s experience and strategy for successful technology commercialization including out-licensing, joint-venture and spin-off.