Seoul City and Basel Canton, Switzerland Collaborate on 'Bio Companies'

Utilizing a Global Bio-Ecosystem Hub

Seoul City announced on the 12th that it will use the global bio-industry ecosystem hub, 'Swiss Basel,' as a base camp to support K-Bio startups in pioneering the global market.

Seoul City will jointly select bio-companies with overseas competitiveness together with the Innovation Office under the University of Basel (Basel Innovation) and provide clinical and non-clinical research support as well as customized education for entry into the European market (France, Germany, Switzerland, etc.) on-site in Switzerland.

Seoul City announced that it will recruit bio and medical companies to participate in the Basel local acceleration program jointly promoted with the University of Basel (Basel Innovation Office) from the 14th until next month 14th.

The city expects that this cooperation with Swiss Basel will be an opportunity for K-Bio startups to learn commercialization know-how that works in the global market and to develop global marketing capabilities in order to grow into 'bio and medical companies recognized overseas.'

Participating companies in the acceleration program will be jointly selected by Seoul City and the University of Basel (Basel Innovation Office). The University of Basel will operate a customized program for companies for four weeks from June, considering the main fields (owned technologies) and growth stages of the selected companies on-site in Switzerland.

Companies wishing to participate in the Seoul City-University of Basel joint acceleration program can apply online on the Seoul Bio Hub website.

Meanwhile, since 2017, Seoul City has established Seoul Bio Hub in Hongneung to provide research and development, consulting, and support for promising bio startups' growth through open innovation with global pharmaceutical companies such as Johnson & Johnson (J&J) and BMS.

Kim Tae-gyun, Director of Seoul City's Economic Policy Office, said, “Swiss Basel, home to global big pharma companies Novartis and Roche, borders countries such as Germany and France, making it an optimal region for entry into the European market.” He added, “We expect bio startups with high growth potential to secure a global network through joint support from Seoul City and Basel Canton and to take a leap forward using this momentum.”