Seoul, Republic of Korea, November 12th, 2020 – The RIGHT Fund (Younbeen Kim, CEO) announces a new request for proposal (RFP) for its the Technical Accelerator Award (TAA) that supports exploratory projects promoting innovative ideas with high impact potential for vaccines, therapeutics, diagnostics, and digital health technology to tackle endemic and emerging infectious diseases in developing countries. This RFP is the RIGHT Fund’s 5th RFP. The RIGHT Fund is open for new project proposals for the TAA till December 18th, 2020 and accept through its official website.
Founded in July 2018, the RIGHT Fund is a global health research funding agency headquartered in Seoul, South Korea and is being funded by the public-private partnership (PPP) between the Ministry of Health and Welfare of South Korea, 8 Korean bioscience companies (SK Bioscience, LG Chem, GC Pharma, Chong Kun Dang Pharm, Genexine, Bioneer, EuBiologics, and SD BIOSENSOR) and the Bill and Melinda Gates Foundation with the mission of promoting global health equity. The RIGHT Fund selects and financially supports R&D projects leveraging Korean innovation and strength for the development of vaccines, therapeutics, diagnostics and digital health technologies that can address public health concerns and needs in developing countries.
Based on the Fund’s early strategy to bring more rapid and tangible outcomes despite limited resources, the RIGHT Fund used to primarily focus on late-stage product development projects. Adding to its existing mid-to-large award (Product Development Award, or PDA), from this year the RIGHT Fund launched its smaller grant platform, TAA that supports early-stage proof-of-concept projects of innovative research ideas. The 1st TAA leveraged Korean innovation to address endemic and emerging infectious diseases including COVID-19. The Fund has invested around KRW 28 billion in 22 R&D projects, selected from the first TAA (a total of 12 projects selected) and releases its 2nd TAA RFP this time.
A briefing session for the newly opened RFP will be held simultaneously online and offline at 1 PM KST on 12th November at the RIGHT Fund Investment Forum 2020 as the 2nd session of the Healthcare Innovation Forum 2020 co-hosted by the ChosunBiz and the Korea Health Industry Development Institute at the Westin Chosun Hotel in Seoul. Details on the briefing session and the ongoing proposals are available on RIGHT Fund’s official website (https://rightfund.org).