Kirin & ICMG launch innovation challenge to develop, incubate, and launch a new business with Kirin’s unique immunology technology
Keen to find out more? Meet the organisers of the iMUSE Open Innovation Challenge at the physical briefing event to be held in Singapore on 23rd October 2019.
Kirin Holdings Singapore, in collaboration with ICMG, launched its “iMUSE Open Innovation Challenge” on 18th September 2019. The challenge aims to collect ideas from local businesses and students to co-develop, incubate, and launch a new business with Kirin’s unique immunology technology. This technology, “L. lactis strain Plasma” is the first lactic acid bacteria in the world to activate the comprehensive immune system and was discovered by Kirin. Its proven effects include reducing risks of developing cold-like symptoms and maintaining the balance of skin flora, among others.
This is an innovative challenge in line with Kirin’s long-term strategy to establish and foster new businesses bridging Pharmaceuticals and Food & Beverages. Through this challenge, Kirin hopes to deliver its groundbreaking technology to contribute positively to the health and well-being of the people of Southeast Asia.
The “challenge” behind the iMUSE Open Innovation Challenge
Kirin aims to achieve the goal of the challenge through the following two approaches. These are:
1. Creating new products or services beyond existing business based on the intrinsic value of Kirin’s immunology technology “L. lactis strain Plasma” and its potential to provide new solutions to customers in Southeast Asia.
2. Utilising local business ecosystem and knowhow to maximise iMUSE’s market potential.
The challenge is open to all startups, corporates, and students who want to be part of this new venture.
Registration for the challenge is open until 22 November 2019. All eligible individuals, teams, and organisations are encouraged to sign up through the challenge website.
Also read: ICMG harnesses the power of FORGE to support corporate-startup innovation
Teams are challenged to tap on their business acumen, creative & critical thinking skills through 2 different stages of the Challenge. Selected teams chosen to progress to the final round will have the exclusive opportunity to be mentored closely by Kirin representatives to continue developing their projects for the Demo Day.
Submissions will be evaluated based on feasibility, creativity, and product-market fit by judges with extensive industry experience. Winners of the first round of selection will be announced by 6th December 2019. Final winners will be selected during the demo day on 18th March 2020.
Challenge timeline and awards
1.) A physical briefing event will be held on the 23rd of October 2019 for participants to find out more about the challenge and interact with the organizers. Register here!
2.) Applications to the iMUSE Open Innovation Challenge will be accepted until 22nd of November 2019. Interested applicants may sign up and form a team, or join a team online. Applications are completed by submitting a 10-slide powerpoint proposal.
3.) Judge 1 results will be released on the 6th of December 2019.
4.) A Mentoring Stage will be conducted for successful applicants. This will be held between the 9th of December 2019 up until the 21st of February 2020.
5.) The iMUSE Open Innovation Challenge will culminate in a Demo Day on the 18th of March 2020.
Teams selected for the mentoring stage stand a chance to win a cash prize of up to $15,000 or flight support to visit Kirin’s R&D facilities in Japan!
Who are Kirin and ICMG?
Kirin Group operates globally and offers a comprehensive line-up of products within the Food & Beverages domain, Pharmaceuticals domain, and domains bridging Pharmaceuticals and Food & Beverages. Kirin Group continuously works to provide appealing products and services that respond to consumer needs.
ICMG aims to become Asia’s Most Admired Accelerator. ICMG constantly work towards creating new corporate innovations. As the leading corporate innovation accelerator, ICMG Singapore works with different partners (Government, Businesses, Individuals & more) to co-create purposeful innovations for corporates.
For more details, please visit their official page.
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