Gyeonggawon Expands Support for Pharmaceutical Bio R&D and Technology Commercialization in the Province

Front view of Gyeonggi-do Economic Science Promotion Agency

The Gyeonggi-do Economic Science Promotion Agency will carry out pharmaceutical and bio research and development (R&D) demonstration support and technology commercialization support projects within the province from April to May.

On the 27th, the agency announced that it annually conducts the "Gyeonggi-do Bio Company R&DB Comprehensive Support" project, which provides step-by-step R&D services using advanced equipment, technology, and specialized research personnel, or jointly develops technologies required by companies.

The main projects include ▲Infrastructure Utilization Corporate Support ▲R&D Demonstration Support ▲Technology Commercialization Support.

Infrastructure Utilization Corporate Support establishes expensive advanced research equipment that startups, small and medium-sized enterprises, and venture companies find difficult to possess, and assigns specialized personnel to support functional material discovery, specialized analysis, pilot production, preclinical efficacy and safety evaluation, and other professional R&D services at all stages before clinical trials or product commercialization. As of 2022, 39,814 R&D service cases were provided to 317 companies, and 457 education and technical guidance sessions were conducted to offer solutions to technical challenges in corporate R&D sites.

R&D Demonstration Support is a customized R&D support project that responds to various corporate demands from idea concretization to technology advancement and product development. The support methods are divided into two types: "Demand Technology Industry-Academia-Research-Hospital Joint Research" and "Material Development Demonstration Research Support." This year's R&D Demonstration Support projects will be individually announced in April and May according to the support method. The agency plans to ease the corporate burden standards to reduce companies' financial burdens.

Technology Commercialization Support is a project that discovers excellent pharmaceutical and bio technologies within the province and activates technology cooperation and transactions between demanders and suppliers. Companies participating in domestic and international partnering events will be recruited around April to May.

Kang Seong-cheon, director of the agency, stated, "Gyeonggi-do supports the entire bioindustry cycle to strengthen the technological competitiveness of bio companies in the province by utilizing the research infrastructure possessed by the agency." He added, "Centered on the newly established Bio Industry Division this year, we will promote various projects so that Gyeonggi-do can advance from being a domestic bioindustry R&D hub to becoming the center of the global biohealth industry."