Government fund of funds
Development institute of the Russian Federation

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RVC and AIRR business mission in the Republic of Korea succeeded

07.12.2018

From 25 to 30 of November, in the Republic of Korea, a business mission for the participants of the priority project of the Ministry of Economic Development of the Russian Federation "Development of the innovation clusters — leaders of the investment attractiveness of the global level" with organizational support of RVC and Association of Innovation Regions of Russia. Russian delegation included 17 representatives of the development institutions and regional innovation ecosystems from Tomsk, Ulyanovsk, Kazan, Lipetsk, Saint-Petersburg and Moscow.

The participants visited Korean research and development institutions, innovation clusters and technological companies which activity is related to NTI markets. During the business mission, the participants got acquainted with the different aspects of innovation ecosystem of the Republic of Korea, including unique formats of the state support.

Thus, for example, the delegation visited D.CAMP. business incubator. In 2013, under the initiative of the State Finance Services Committee, 18 biggest Korean banks created a non-commercial fund in order to stimulate economic growth, re-distribute banks super-profits and ensure fair market conditions and support young talented Korean entrepreneurs. For the 5 years, the fund invested 450 million USD in 121 companies from the number of residents of the D.CAMP business incubator, start-ups survival rate is 86.4 %, their total capitalization id 55 million USD.

One of the key partners for establishment and strengthening of the cooperation on the level of state development institutions in Russia and Korea is a Korean Industrial Complexes Corporation or KICOX. The corporation manages 62 industrial complexes in the country, their share is 35.3% of the production and 34.9% of the Korean industrial export. At the meeting with the head of KICOX Venture Center Mr. Un, the participants got to know about peculiarities of the cluster policy in Korea and exchanged the management practices used for innovations clusters. Secret of success of the Korean cluster is state initiative and the correctly selected industries. It is planned to count on biotechnology, healthcare and digitalization in a new program of cluster development that is developed at the moment.

ExoAtlet Asia, a South Korean branch of the RVC's portfolio company "ExoAtlet", developer of the medical exosceleton for rehabilitation was included in the trend. In 2017, ExoAtlet Asia attracted 1.2 million UDS investments from the Korean company for development in the Asian region and several months ago, it received KFDA certificate that entitles to sell exosceletons as medical devices in South Korea. At the moment rehabilitation in ExoAtlet Asia is already available in 2 clinics in Seoul.

During the mission, the delegation also visited R&D centers of LS Industrial Systems, a leader on the industrial automation market in Korea; a cooperation agreement with this company was signed within the framework of implementation of the National Technology Initiative roadmap "Energynet". Technical director of LS Industrial Systems Mr. Quon demonstrated implementation of their Smart Grid solutions on the sample of "smart building" that significantly reduces expenses for power energy.

The important point of the program was visit to the Pangyo Techno Valley or "Korean silicon valley", a research and development innovation cluster in Pangyo that specializes in ICT. Special attention in cluster was paid to development of cooperation between the successful innovation Korean companies in order to achieve global competitive ability of the country. Cluster resident Samsung Heavy Industries shared with the delegation participants it perspective developments in the field of unmanned marine transport. Thus, from 2018, Intelliman ShipTM system is installed on all ships released by Samsung Heavy Industries.

Besides the success in heavy industry, world-wide fame was received by "Korean wave" phenomenon used for development and distribution of the national South Korean brand as a policy of "soft power". The participants got acquainted with this part of the Korean innovation ecosystem when visiting Digital Media City, a leading cluster in the field of media, entertainment and digital technology in Seoul.

Successful samples of interaction between the universities and business were seen by the participants at the Korean Institutions of Science and Technology, first Korean research and development institutions, which foundation in 1966 was a start for transformation of Korea to one of the most technologically developed states in the world. Special attention is paid to technology transfer, one of the latest examples demonstrating KIST development commercialization - sale by Samsung Electronics for 1 million USD of a filter for a camera that turns a phone in the portable spectrometer and makes it possible to analyse substance composition by a photo.

A special notice should be made about the meeting with the Technology Commercialization Center of the Korea Advanced Institute of Science and Technology (KAIST), a leading educational and research university in South Korea located in Daejeon. KAIST takes the 6th place in the rating of the most innovative universities of the world in 2017 according to Thomson Reuters. For the purpose of development of the global transfer and promotion of the Korean technologies in the developing countries, the university created a network of 25 hubs in South-East Asia, Africa, Latin America and analyse local market demands and identify the problems that require a solution. KAIST Technology Commercialization Center is an intermediate that helps to understand demand on the international markets and select definite Korean technologies for it. For example, to develop ecological solutions to substitute coal in power energy generation in Costa-Rica or "Smart City" project in Rwanda.

At the end of the business mission, the delegation visited Songdo Smart City international economic area in Incheon, one of the biggest "smart city" projects in the world. Songdo Smart City infrastructure is based on network technologies that unite all utility system into a whole and make it possible to analyse information from the sensors and video cameras in real time mode using the artificial intelligence.

Aleksey Gusev, Director of innovation ecosystem development at "RVC" JSC:

"The by-past business mission had an aim to develop international cooperation, acquaintance of the representatives of the Russian innovation local clusters with the advanced foreign practices, search for the potential partners in South Korea. Partnership with the Ministry of Economic Development of the Russian Federation and Association of Innovation Regions of Russia in the trip organization made it possible not only to ensure high level of the business mission program, but also to involve new cluster representatives, leaders, participants of the priority program of the Ministry of Economic Development of the Russian Federation."




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