Ajou News

NEW Launching of Independent Technology Holding Company to Commercialize Promising Technologies

  • 2021-09-06
  • 3707

Ajou University will establish an independent technology holding company commercialize promising technologies within the university.


An inauguration ceremony for the Ajou University Technology Holding Company was held at Yeonam Hall in the afternoon of August 5, 2021. President of Ajou University Park Hyung-ju and Head of Industry-Academia Cooperation Kwon Yong-jin, Director of the Research Institute for Innovative Medicine at Ajou University Medical Center Kim Cheol-ho, and other university officials were present. It was also attended by Kim Sun-yong, Standing Director and Park Jae-ho, Executive Director of Administrative Affairs at the Daewoo Educational Foundation. The ceremony began with a report presented by Kwon Yong-jin, Head of Industry-Academia Cooperation, on progress related to foundation of the company, congratulatory remarks by President Park Hyung-ju, an address by Director Kim Cheol-ho, and unveiling of the signboard.


The company completed establishment and business registration in July this year with approval of the Ministry of Education. As a university technology company based on the Education Ministry’s Industrial Education Enhancement and Industry-Academia-Research Cooperation Promotion Act, Ajou University became the 76th technology holding company among universities in Korea. The CEO of the university’s independent technology holding company is Kwon Yong-jin, Head of Industry-Academia Cooperation, while Park Jang-ho, Deputy Head of Industry-Academia Cooperation, and Director Kim Cheol-ho will serve as directors, and Shim Gyu-cheol, Executive Director of Planning, will serve as auditor.


Through establishment of this company, the school will be more active in discovering excellent technology, supporting the establishment of technology-based subsidiaries, and investing in promising venture companies. The goal is to establish a virtuous cycle of income generated through technology commercialization, which is then reinvested in R&D. In particular, the school plans to support society and companies as it leads technological innovation through swift commercialization, rather than keeping outstanding R&D achievements within the university.


“Rather than pursuing research that remains inside the walls of a laboratory, Ajou University is seeking to contribute to our community by undertaking research that is needed by businesses and society,” said President Park, adding, “We will build a framework around this technology holding company and work to achieve coexistence and win-win growth with N4U Tech Holding Inc., where we utilize our existing expertise in collaborating with other universities.


“Leading hospitals overseas are earning significant revenue through technology commercialization, technology marketing, and technology start-ups,” pointed out Director Kim Cheol-ho, who added, “As of 2019, we have secured considerable competitiveness in this field, ranking first in the country in terms of the number of technology transfers and resulting revenue. We will develop an industry-university-research convergence R&D center to be established on the site in front our nursing hospital, which will add to our competitive edge.”


University technology commercialization refers to commercialization of the outcomes of university research activities through technology transfer and technology-based startups. Technology developed at the university can be transferred to a company or institution, or the technology holding company can commercialize the technology directly or through a subsidiary. Through successful commercialization, universities can maximize the benefits of research findings, thereby contributing to enhancement of corporate and national competitiveness and job creation. It will also diversify the school’s revenue sources.


Ajou University systematically supports the entire commercialization process for excellent patent-based technologies, from research planning to intellectual property creation, technology transfer and start-ups, through an organization dedicated to technology commercialization, professional human resources, a joint technology holding company and an independent technology holding company. As a result of these efforts, the school has seen a steep rise in performance of technology commercialization over the past five years, recording KRW 3.35 billion in technology transfer revenue in 2020, ranking 7th in the nation.