Ajou University Subsidiary Avantrix Selected as 'Outstanding Industry-Academia Cooperation Company'

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Avantix, a professor-startup company under Ajou University Technology Holdings, has been selected as an 'Excellent Industry-Academia Cooperation Company of 2024.'

On the 7th, Ajou University announced that Avantix was selected as an ‘Excellent Industry-Academia Cooperation Company of 2024’ by the Ministry of Education and the Korea Chamber of Commerce and Industry.

The ‘Excellent Industry-Academia Cooperation Company’ is selected by evaluating companies' industry-academia cooperation activities such as ▲university student field training ▲industry-academia cooperation curriculum ▲execution of industrial projects ▲technology transfer. Selected companies receive benefits such as reduced loan interest rates and preferential treatment when participating in government ministry projects.

Avantix is a startup founded in November 2021 by Professor Do-Young Park of Ajou University School of Medicine (Department of Orthopedic Surgery). The company researches and develops next-generation regenerative medical devices and cell therapies applicable to orthopedic surgeries such as knee meniscus tear surgery and anterior cruciate ligament reconstruction.

[Photo by Ajou University]

Avantix has continued industry-academia cooperative research with university and graduate school researchers in the bio field, promoting joint technology development and technology commercialization. Last year, it was selected for TIPS, a private investment-led technology startup support program by the Ministry of SMEs and Startups, receiving funding for technology development (R&D) and commercialization.

In particular, Avantix is the first subsidiary of Ajou University Technology Holdings. Ajou University supports the entire technology commercialization process, including practical verification of excellent technologies owned by the university, establishment of subsidiaries, startup investment, and equity sales.

Technology commercialization refers to the process of commercializing research outcomes obtained through research activities of university researchers via technology transfer or startups. It maximizes the utilization of research results within the university and contributes to enhancing corporate and national competitiveness as well as job creation. Ajou University recorded technology commercialization income of 10.2 billion KRW (170 cases, 2021?2023) over the past three years.

Professor Park said, "Industry-academia cooperation is an essential element for the development of Korea’s bio industry and medical field," adding, "We will continue to cooperate in various ways to contribute to strengthening the capabilities of university and graduate students in related fields and to create synergy."