Applications are now open for Merck KGaA’s newest collaboration program focused on startups located in Asia.
The German pharma announced Thursday, sparing a few details, that it was launching a new program in Asia called Uptune, which “aims to generate collaboration opportunities with early-stage innovative companies.”
The plan, according to Merck KGaA, will support and give some financing to certain companies in the healthcare and life science space, plus electronics and smart manufacturing. It did emphasize it will look for companies with a focus on digital health and “innovative technologies/materials for semiconductor and display.”
On top of those emphases, Merck KGaA noted it was also looking at companies working in manufacturing, utilizing cellular, molecular- and immuno-assays or cell and gene therapy tools, engaging in manufacturing specialties such as supply chain innovation, data management, simulation and analytics; and finally, “chemistry and materials for life science.”
As part of the application process, Merck KGaA said it is looking to partner with up to five companies and grant up to €100,000 in financial assistance, plus mentoring and coaching. The goal for these startups is to develop proof-of-concepts and possibly test what they come up with — and if they do well, it could end up in a partnership with Merck KGaA.
The Merck Uptune startup collaboration program is taking applicants through Sept. 4, starting the program officially sometime in mid-November.
The company did not respond to a request for comment from Endpoints News.
This is not Merck KGaA’s first go-around on the support/collaboration route in Asia. The pharma has been running a China-focused accelerator for several years — in the same tune as a €13 million seed fund Merck KGaA set up in 2019 to bring companies over certain value inflection points.
That accelerator program, according to Merck KGaA, enrolled 30 startups in the last three years, where each received up to €50,000 in financial backing, mentoring and coaching from experts. The company added that 60% of those startups, or approximately 18 of them, ended up reaching collaboration deals with Merck KGaA.
Photo: Arne Dedert/picture-alliance/dpa/AP Images