Incheon TP Supports Biohealth Startups and Technology Commercialization... 2.7 Billion KRW Invested by 2024

Incheon Technopark Headquarters

[Asia Economy Reporter Park Hyesook] Incheon Technopark (Incheon TP) announced on the 31st that it will promote a platform project to support the startup and technology commercialization of biohealth companies in the Incheon area.

Incheon TP, which secured 2.7 billion KRW in project funds after being selected in December last year for the Ministry of Health and Welfare's 'K-Biohealth Regional Center Support Project' competition, will carry out this project until 2024.

They will prepare residential spaces for startup companies and provide support for idea and technology evaluation, research and development (R&D), preclinical and clinical trials, regulatory approval, investment, and sales.

Additionally, they plan to operate a platform that combines startup incubation spaces, facilities, programs, and hospitals to enhance the efficiency of corporate support.

They will also provide specialized support for vaccine startup companies utilizing excellent research personnel, infrastructure, and data from public medical hospitals.

This aims to develop and secure domestic vaccines and technologies to respond to national infectious diseases, promoting joint research such as clinical trials with biohealth companies in the Incheon area and leading hospitals in the metropolitan area.

Gachon University Gil Medical Center, Incheon Medical Center, Inha University School of Medicine Affiliated Hospital, and Catholic University Incheon St. Mary's Hospital are participating, and the scale is expected to expand further in the future.

Incheon TP plans to build a collaborative infrastructure for clinical support, joint clinical research, and performance sharing by linking with the Ministry of Health and Welfare's strategic center as the central hub, six regional centers (Incheon, Gyeonggi, Wonju, Gyeonggi, Gimhae, Gwangju), and hospitals nationwide.

An Incheon TP official said, "This project is a specialized project that supports clinical trials based on cooperation between companies and hospitals," adding, "We will do our best to create an ecosystem that attracts and supports the growth of biohealth pre-startups and startups in Incheon through collaboration with hospitals."