SYP Co., Ltd. conducted an interview with the Medical Times under the name of "I am responsible for medical startups, patents, and technology commercialization," and the full text of the interview is as follows.

Commercialization companies and technology trading institutions designated by the Ministry of Trade, Industry and Energy, accelerators designated by the Ministry of SMEs and Startups, and TCB (Technology Credit Bureau) technology evaluation institutions designated by the Financial Services Commission.

Special Your Partner (SYP), a patent law office that supports various government projects, serves as an "incubator" that embodies the business models of early start-ups, including medical devices and bio, as well as domestic and foreign applications and registration such as patents, utility models, designs, and trademarks.

In particular, unlike most patent law offices focusing on patent applications, it is differentiated in that it provides total consulting for commercialization and commercialization of products such as technology value evaluation, technology transfer, government R&D tasks, and market research.

SYP Co-CEO Shim Sim-sik, who has about 50 employees, including 8 IT, BT, and NT lawyers, at the headquarters in Seoul and Cheongju and Jeonbuk branches, advised that medical device start-ups should specify their business models through technology commercialization from the product R&D stage.

"Early start-ups experience a lot of trial and error due to the lack of business models from technology valuation to generating profits, such as patents, licensing, market research, marketing, R&D task selection, and investment attraction," he said.

"SYP provides consulting specialized in technology commercialization along with the application and registration of Intellectual Property Right patents such as patents, utility models, designs, and trademark rights of start-ups," he explained.

The distinguishing feature of SYP from other patent law offices is that it supports 'technology commercialization'.

The business model of "product commercialization, market entry, and profit generation" is embodied by providing full-term total consulting such as ▲ technology marketing ▲ technology transfer ▲ licensing ▲ R&D project planning ▲ investment attraction.

CEO Shim said, "We provide a variety of consulting, from mentoring to funding, and establishing customized strategies for technology commercialization of prospective or start-up companies," adding, "In addition to technology commercialization, we also support small and medium-sized companies that are concerned about expanding production efficiency in connection with external consultants."

SYP, recognized for its technology commercialization expertise, is also actively participating in government and local government projects, such as carrying out technology commercialization support for the Cheongju SB (Science Business) Plaza, which was established as part of a customized commercialization support project in the Daedeok R&D Special Zone.

Cheongju SB Plaza, located in Osong Life Science Complex in Cheongju, supports the start-up and childcare of up to 55 companies as an advanced base for creating an innovative start-up ecosystem, fostering and commercializing startups including medical devices and bio.

SYP operates a "Co-working space" with Cheongju branch employees residing at Cheongju SB Plaza and provides customized mentoring and consulting from technology commercialization to investment attraction for prospective or early start-ups.

Government R&D projects are also one of SYP's specialized consulting support projects.

CEO Shim said, "It is not easy in reality for start-up companies to conduct R&D only with their own capital." Moreover, since the medical device manufacturing industry has a low rate of return itself, it is necessary to actively utilize government R&D funds, he said.

"SYP provides professional consulting that increases the probability of selecting tasks, such as supporting companies' business plan preparation, based on data classified and processed by ministries, regions, and fields," he added.

"It not only supports the selection of tasks, but also serves as a 'Business Director (BD) for technology commercialization promotion' of R&BD, which consults technology transfer, market research, marketing strategies, and investment attraction necessary to commercialize and commercialize performance results."

In particular, he voiced the need to establish a clear roadmap for technology commercialization as prospective start-ups are preparing to develop convergence medical devices that combine artificial intelligence (AI) and big data.

"The final destination for technology commercialization is that developed products are licensed and used in medical institutions such as insurance benefits," CEO Shim Kyung-sik said. "For this, early start-ups need to evaluate technology value from the product R&D stage considering convergence medical device characteristics."

"SYP will actively support early start-ups in medical devices and biotechnology to reduce trial and error and grow stably by providing both patent applications and registration to protect intellectual property rights, government R&D tasks, and technology commercialization consulting."

* Person in charge: Hong Yoo-sung, Deputy Director of Technology Commercialization Team 2 (cjsfkr@sypip.com )