Global Science Parks Unite: 2024 K-STP Program Showcases Korean Innovation and Drives Technology Commercialization

(MENAFN- PENTA PRESS) The Innopolis Foundation (hereafter “INNOPOLIS”) has announced the successful conclusion of the 2024 Korean Science Park (K-STP) Program, aimed at global science park (STP) stakeholders and technology commercialization experts.

Originating in 1973 as INNOPOLIS Daedeok, South Korea’s R&D special zones have become hubs of collaborative networks integrating industry, academia, research, and support institutions. These zones have greatly contributed to the country’s position as a global leader in science and technology. Now encompassing five major zones—Daedeok, Gwangju, Daegu, Busan, and Jeonbuk—and 14 smaller zones, the R&D special zones drive regional innovation and economic growth.

The INNOPOLIS, a public institution under the Ministry of Science and ICT of Korea, has been hosting the K-STP program since 2008. This program invites researchers and public officials from developing nations in Southeast Asia, Africa, and other regions to learn from the success of INNOPOLIS Daedeok. Over the past 16 years, 538 participants from 79 countries have completed the program, using their insights to enhance their home countries' innovation ecosystems.

This year, in addition to the K-STP training program, the INNOPOLIS introduced the K-STP Technology Commercialization Program, targeting international experts in technology commercialization.

The K-STP training program, held over 10 days in late July, brought together 14 participants from countries such as Brazil, Ecuador, Thailand, the Philippines, Ghana, Serbia, and Kuwait. They explored Korea’s science park management models and innovation cluster strategies.

Following this, the inaugural K-STP Technology Commercialization Program in September focused on building a global network for technology commercialization. Participants from regions including North America, Europe, and Asia—representing countries like the U.S., U.K., Poland, Brazil, Mexico, China, the Philippines, Malaysia, and Indonesia—engaged in networking events and explored potential collaborations with Korean innovation institutions and enterprises within the special zones.

A highlight of this year’s program was its integration with “INNOPOLIS Demoday,” which showcased the technologies and products of 18 startups from the special zones. This synergy provided participants with practical opportunities to engage with early-stage enterprises and assess the demand for their innovations in global markets, helping them refine their strategies for international expansion.

The program also offered Korean companies selected for the Foundation’s global technology commercialization initiative opportunities to directly connect with international stakeholders. For instance, BlueSignal and VS PharmTech actively engaged with global attendees during presentations and Q&A sessions, fostering discussions on potential partnerships.

Alexander George Balderstone, CEO of Kaiku and a U.K. technology commercialization expert, remarked, “Many venture capital firms in the U.K. are keenly interested in Korean startups. This program has laid the groundwork for continued networking with companies from the special zones.”

The INNOPOLIS’s efforts through the 2024 K-STP Program demonstrate its commitment to advancing global technology commercialization and strengthening South Korea’s position as a leader in science park development.

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