The IDEA BRIDGE Asset Management Inc., a corporation based in Seoul, South Korea and SET Technology GmbH a German based company announced a strategic relationship to accelerate the commercialization and development of Intellectual Properties (IP, Patents) with the goal for an implementation service of Smart City projects. This collaboration operates basically on standardized SET processes for Technology Transfer and Business Qualification. Aim of the collaboration – a MoU was signed by both parties - is to select, screen and validate technologies.
For example, IDEA BRIDGE and SET intend to collaborate in technology support and transfer for projects and/or equity engagements of the IDEA BRIDGE Funds or individual portfolio companies in which IDEA BRIDGE funds will be invested by SET. Both institutions commit themselves to an active role in achieving co-investments for the SET Smart City Fund and bring in both strength and experiences to establish innovative smart projects.
While SET will through provide its expertise in business development, assessment, development and implementation of technologies with its networks of institutes and universities (German R&D organizations), IDEA BRIDGE will support this service through its active funds and through portfolio companies in which IDEA BRIDGE funds have invested. For the basic support by Idea Bridge, SET will provide its technical expert teams. Providing the business development SET- including research projects and technology implementation – SET advises also in financing and funding programs.
With this strong collaboration SET Technology expands its network to the Asian Market, and IDEA BRIDGE’s targets are the European and US market via SET’s entities.
Both parties expect a fruitful exchange and an enormous benefit on joint projects.
About IDEA BRIDGE
IDEA BRIDGE is an asset management company specializing in intellectual properties such as patents, trademarks, and copyrights, etc. Idea Bridge identifies value of intellectual properties and creates financial structure to commercialize firms’ intellectual properties. They focus on small-and mid-cap firms with enormous potential for global reach. Idea Bridge is a wholly-owned subsidiary of Intellectual Discovery Co., Ltd., the largest Korean invention capital. It was established in 2011 and licensed as an asset management company by the Financial Services Commission(FSC) of the Korean government in 2012.
SET Technology GmbH, founded in 2007, is a technology transfer company located in Germany. As a collaboration partner for research and development organizations and universities, SET delivers implementation and commercialization services on customer requirement. SET’s core business focus is on commercialization of proven technologies and the development and commercialization of Intellectual Properties. Also, SET offers business development to industrial partners and companies based on new innovations and network opportunities.
In 2016 SET started the major focus „Smart City“ with an own subsidiary company to break down this headline to real projects and execution. Mid and long-term strategy of SET is to establish a successful Technology Transfer model, driven by deployment structures and options like „smart city“ and to establish own technology platforms and spin-offs in major technical areas like water, food and logistics.
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