Minister's Award at This Year's Innovative Growth Companies Ceremony, Excel Therapeutics and Binex Receive Honors
[Asia Economy Reporter Moon Chaeseok] The event "BioPlus Interphex Korea 2020," which shares the latest trends in the bio industry and explores global business opportunities, opened on the 23rd.
According to the Ministry of Trade, Industry and Energy, the opening ceremony was held at COEX in Gangnam-gu, Seoul, in the morning. To prevent the spread of COVID-19, it was conducted as a no-audience online live broadcast.
The event has been held annually since 2015 by the Korea Bio Association.
This year, under the theme "It all comes down to BIO," about 2,000 participants from domestic and international bio companies, academia, and research sectors are attending online until the 25th, with international conferences and online business meetings taking place.
Various programs related to the latest technology trends such as COVID-19, global new drugs, digital healthcare, as well as startup fostering and global market entry, have been prepared.
Minister Sung Yun-mo of the Ministry of Trade, Industry and Energy said in a video congratulatory message at the opening ceremony, "In the future, the bio industry is expected to play a central role in our country's industry alongside semiconductors and automobiles," adding, "In particular, while there are high expectations for the development of COVID-19 treatments and vaccines, we are facing new challenges to overcome the limitations of cost and time."
He continued, "To effectively respond to these expectations and challenges, industry, academia, research institutes, hospitals, and the government must establish close cooperative relationships and create a competitive bio-industry ecosystem that matches the elevated status of 'K-Bio' due to COVID-19."
Minister Sung stated that to this end, they will actively support companies and research institutes developing COVID-19 treatments and vaccines and back small and medium-sized enterprises, mid-sized companies, and startups to grow as key players in the domestic bio industry.
He said they will expand demonstration and prototype development support centers to commercialize good ideas and actively promote the localization of materials, parts, and equipment in the bio field, as well as the training of specialized personnel and regulatory improvements.
Furthermore, he mentioned that they will continuously increase the added value of the bio industry through convergence with new technologies such as artificial intelligence (AI) and big data.
The "2020 Bio Innovation Growth Company Awards Ceremony" was also held at the opening ceremony.
The Minister of Trade, Industry and Energy Award was given to Excel Therapeutics (Smart-Up sector of bio innovation growth companies) and Binex (small, medium, and large enterprise sector), respectively.
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