Application for participation in bio and medical companies including diagnostics, medical robots, and biotechnology until the 31st, 5 companies selected
Research support such as clinical trials in Basel from July to September, starting expansion to France, Germany, and Switzerland
[Asia Economy Reporter Lim Cheol-young] The Seoul Metropolitan Government is partnering with the world-renowned bio-industry ecosystem hub, the University of Basel in Switzerland, to support K-Bio startups in pioneering the global market.
On the 3rd, Seoul announced that it will jointly select bio and medical companies with overseas competitiveness together with the University of Basel and provide clinical and non-clinical research support at the Swiss site (University of Basel), as well as coaching and consulting for entry into the European market (France, Germany, Switzerland).
The Basel-Stadt canton in Switzerland is home to headquarters of companies such as Roche and Novartis, along with over 700 life science companies and more than 200 research institutions, forming a world-class bio-industry ecosystem. The University of Basel is at the center of the industry-academia-research collaboration network in Basel-Stadt.
Seoul is recruiting bio and medical companies to participate in the Basel local acceleration program jointly promoted with the University of Basel (Basel Innovation Office) until the 31st. The program focuses on six fields: therapeutics, biotechnology, AI-based healthcare, diagnostics, medical technology, and medical robots, selecting five companies.
The bio and medical industry requires global networking throughout the entire process from research and development to product manufacturing and market entry. The newly introduced 'Seoul-Basel Startup Hub Acceleration Program' is significant in that it expands the networking stage with global companies and institutions, which was previously conducted 'domestically,' to the 'overseas local' level.
The city expects that this collaboration with the University of Basel will provide K-Bio startups with opportunities to learn commercialization know-how and enhance global marketing capabilities to grow into bio and medical companies that succeed overseas. Participating companies in the acceleration program will be jointly selected by Seoul and the University of Basel. The University of Basel will operate a customized program for up to three months, considering the selected companies' main fields (technologies owned) and growth stages locally.
Companies wishing to participate in the Seoul-Basel joint acceleration program can apply online through the Seoul Bio Hub website.
Meanwhile, since 2017, Seoul has established Seoul Bio Hub in Hongneung to provide promising bio startups with research and development and consulting services, supporting company growth through open innovation with global pharmaceutical companies such as Johnson & Johnson (J&J) and BMS. In December this year, Seoul plans to establish the Seoul Bio Hub Global Cooperation Building, a comprehensive support space for K-Bio overseas expansion, and strengthen cooperation with overseas cities to expand points of contact for domestic startups to continuously interact and collaborate with global companies and overseas institutions, thereby supporting the globalization of K-Bio companies.
Hwang Bo-yeon, Director of Seoul’s Economic Policy Office, said, “Switzerland, the home of global big pharma and located at the heart of the European continent, borders countries such as Germany and France, making it optimal for entry into the European market.” He added, “Through collaboration with multinational companies and institutions and support for investment attraction, this will secure a foothold for K-Bio companies to enter the European market and ultimately drive growth across the domestic bio industry.”
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