Inje University (President Jeon Min-hyun) is establishing a unique space in producing faculty entrepreneurs, especially physician entrepreneurs.
As of December 2013, Inje University had a total of 29 faculty startups, including 12 biohealth, 2 healthcare IT, 8 medical devices, and 7 education and other.
Among these, the most notable area is the bio sector. Inje University’s physician entrepreneurs are primarily affiliated with its four university hospitals, including Busan Paik Hospital, supported by 623 clinical faculty members and 3,767 hospital beds. The university’s robust patent portfolio attests to this: among 677 patents held by its Industry-Academic Cooperation Foundation, 105 are in pharmaceuticals and bio, 297 in medical devices, 195 in IT and machinery, and 80 in materials and components.The emergence of physician-led startups began in earnest with the Gyeongnam Gimhae Innopolis project launched in 2019. <br>The project, specialized in biomedical medical devices, supports bio-related startup acceleration and full-cycle technology commercialization through R&BD for research companies, tech transfer R&BD, and Innopolis Campus programs. Additionally, Inje University invests approximately KRW 5 billion annually in technology and business advancement through various financial support programs, and has secured a total investment fund of KRW 49.6 billion via six investment clubs including IP-based investment unions.Faculty members with over three years of tenure at Inje University are eligible to apply for startup approval. They must launch technology-based ventures through patent transfers, and the number of faculty startups in each department cannot exceed 20% of the full-time faculty.
Once approved, faculty members are allowed to hold dual roles as professors and entrepreneurs. Among notable startups is TI Inc., founded by Prof. Moon Sung-hyuk of Busan Paik Hospital's ophthalmology department. The company won three innovation awards at CES 2024 for its cataract surgery device, which is set to be deployed in clinical settings this year.
Prof. Kwon Young-wook from the orthopedic department at Busan Paik Hospital founded iKey Inc., which was selected as one of Busan’s top tech startups in 2022. Prof. Kim Chang-geun of Sanggye Paik Hospital founded SkimsBio Inc., whose eosinophil-derived neurotoxin diagnostic kit for asthma has been listed as a new medical technology.Prof. Lee Seung-hwan from the psychiatry department at Ilsan Paik Hospital co-founded mental health AI diagnostic startup Bwave Inc. with an engineering professor, securing KRW 800 million through crowdfunding.Two companies founded by professors in the Department of Microbiology are experiencing rapid growth: SPMed Inc. by Prof. Shin Jae-guk and Nexcera Inc. by Prof. Park Se-kwang. Both were selected as "Baby Unicorn" companies in the latter half of 2022 and have secured Series A investments. Their main products include pharmacogenomic testing services and ophthalmic therapeutic agents.JH Biotechnology Inc., founded by Prof. Shin Jung-wook of the Department of Biomedical Engineering, is developing dental medical devices using ultrasound technology with no radiation risk.
At Haeundae Paik Hospital, Prof. Choi Hee-eun of the rehabilitation medicine department founded Share & Service Inc., which was selected for the TIPS program. Prof. Park Myung-chan from the urology department founded UMED Inc., which was selected for a tech transfer commercialization project by the Research Institute for Science and Technology Innovation and is currently developing a new medical device that allows patients to self-administer medications.
