Foundation for Medical Innovation was established to supply the excellent ideas and prospective technologies which will take a lead the future medicine by means of the main projects of the foundation, establish the world class research eco-system in the field of future medicine bio science of Korea by spreading the recently developed treatment technologies effectively and to realize the public benefits to create the national wealth and to devote to the people’s health through cooperation among industryㆍacademyㆍresearchㆍhospitalㆍadministration and the open innovation converging these.
The purport of establishment, precedent study capabilities and experience and the development of future medical science of the Foundation for Medical Innovation (Hereinafter it is referred to as ‘the Foundation’) were reviewed closely by Ministry of Science and ICT, and the establishment permission was obtained by passing the verification procedures.
Especially, the Foundation obtained the permission of establishment as the establishment conditions were fulfilled and approved for it high potentiality to achieve the project objectives according to the Article 4 of “Rules for establishing and supervision on the non-profit seeking corporate affiliated to Ministry of Science and ICT on May 11, 2016.
Furthermore, Ministry of Science and ICT recommended the Foundation for the designated group of sponsoring after confirming that we satisfied all the conditions defined in the implementation decree of corporate tax law and we were appointed as a designated group for sponsoring by the Minister of Knowledge and Economy on July 1, 2016.
The former organization of the Foundation was Cardiovascular Stem Cell Research Group in Seoul National University Hospital (“Cardiovascular Research Group”). A full time doctor, Kim Hyo Soo was dispatched 25 years ago to the Department of Internal Medicine III in Tokyo University in Japan in order to realize the future study strategies of cardiology in Seoul National University. He returned after learning the molecular biology for 2 years which was new science at that time. The Cardiovascular Research Group was established on March 1994 to devote to the national benefit by realizing the basic research achievements of global competitiveness. Now, more than 50 researchers; students in master and doctoral course, postdoctoral program, PhD of bio engineering, professor and MD/PhD professors have been involved into the basic bio science at Cardiovascular Research Group. The advantages of the Cardiovascular Research Group were that the original technologies on medical science and the bio science have been accumulated based on the stem cell biology and molecular biology. Furthermore, the group has the both of the experience and competence for its realization.
The magic cell therapy was developed as the first achievement throughout 12 years of study. The stem cell therapy is being applied to the patients of heart stricture currently as the therapy was approved as a new therapeutic technology by Korean government. The consulting for the technology transfer is being made with domestic and foreign manufacturers by developing new medical instrument, V-stent. The Group is concentrating on the commercialization of the creative bio science study results which lead to the commercialization stage of the Angiopoietin protein which reproduces the vascular muscle through performing the joint studies for 5 years with Korean large companies. The specific treatment methods were practicalized and new medicine is in the pre-commercialization stage.
The Cardiovascular Research Group has unfolded the experience of ‘original technology acquirement and its realization’ to Korea research staff and industries consistently throughout its 25 years of history. It was reached to established the Foundation of Research Center for Future Medicine with the single mind of the professors who involved into the studies eagerly to contribute to the national benefits based on such experience.
The Foundation should raise the cost for maintaining and operation of the corporate from the fruit incurred from basic properties, project revenue, donation and extra income according to the government regulations and articles of incorporation. With regards to the collection of donations, the relevant laws are abided and kept strictly.
The Foundation reports every year to the competent administrations, Ministry of Information and ICT and National Tax Office. The transparency is maintained by disclosing the achievements at the homepage of the Foundation based on the regulations of designated donation organizations.
1) support Korean professionals to dispatch to the foreign academic contest,
2) convening the future medicine forum by inviting the global professionals and
3) publish the newest research trend report, are held twice a year. The Foundation will develop the ecosystem of Korean prospective bio startup and focus on the recent trends and future forecast of the domestic and foreign bio parts to spread into Korea by deriving the cooperation and communication through activating the network of industryㆍacademyㆍresearchㆍadministration for promising technology information and research trends which will take a lead the future medicine through the main projects.
Especially, Korea is very poor at rewarding to the graduate students and doctors in the field of bio science. The Foundation promotes
4) the national science competitiveness as a leading pioneer supporting bio scientists of youth. Especially, medial bio science academy for the future researchers to have high level education program to the prospective next generation medical and bio scientists for basic studies based on the stem cell biology and cutting edge instrument and medicine convergence studies based on the nano bio technology,
5) scholarship to medical and bio science field for supporting the prospective future medical and bio scientists to concentrate on the research and study on the basis of economic stabilization,
6) explore and support the convergence studies of basic.intervention.medicine well organized for the innovative concept and form which can reshape the future medical and bio science creatively.