Daegu and NJ signs $100 Million Partnership

Excerpted from Dr. David Finegold’s Weekly Update for Rutgers School of Management & Labor Relations

Over 100 people were in attendance for the culminating event of the 2009 NJ Life Sciences Week on Wednesday, October 28th.  A delegation of 17 high-level officials from the South Korean city of Daegu came to Rutgers to sign an MOU to create a multi-dimensional relationship with Rutgers, Bio-1, and the state of New Jersey, including a new $100 million bioscience seed fund that will invest in new ventures in New Jersey that have strategic partners in South Korea.  I was the co-MC with Debbie Hart, President of BioNJ; speakers included Rutgers President McCormick, Jerry Zaro from the State Office of Economic Growth, Camille Sailer, Director of International Trade for the NJ Economic Development Authority, and NJ Department of Labor and Workforce Development Commissioner, David Socolow.  NJN was on hand, and aired the story — click here to view it.

Thanks to Lanella Hooper-Williams and the Bio-1 team that did a wonderful job in organizing the event, and Hahn-Jun Lee, the Bio-1 Ambassador to South Korea, who was the key broker who made the partnership possible.