Bio Startup Infrastructure Hub... Support for Bio and Medical Startups
Fourth Facility Following Industry Support Building, Research Lab Building, and Regional Open Building
Domestic and International Pharmaceutical Companies Including Celltrion and Daewon Pharmaceutical Already Occupying
Mayor Oh: "Full Support for Competitiveness to Drive the Future"
'Seoul Bio Hub,' the control tower of Seoul's bio startup infrastructure, is launching full-scale support for resident companies. The goal is not only to help these companies expand globally but also to attract global corporations seeking technology and talent to this location.
On the 25th, the Seoul Metropolitan Government announced that 'Seoul Bio Hub,' located in Hoegi-dong, Dongdaemun-gu, will open a Global Center following the Industrial Support Building in 2017, the Research and Experiment Building, and the Regional Open Building.
The 'Seoul Bio Hub Global Center' will nurture growth companies with competitiveness in the global market. It is already selecting and fostering companies with mature innovative technologies that can succeed overseas, and plans to recruit resident companies in the future, including recommended companies from the Hongneung Special Zone, physician startups, and global companies wishing to enter Seoul.
Currently, 28 startups with technological capabilities that can collaborate with domestic and international pharmaceutical companies such as Celltrion and Daewon Pharmaceutical have already moved in. Last month, 'graduated companies' from Seoul Bio Hub, including Sellenzine, Fraser Therapeutics, Elpis Cell Therapeutics, Jaein R&P, and Keramedics, were also evaluated for competitiveness and moved into the Global Center.
The 'Global Center' is built on a tennis court site with a total floor area of 14,711㎡, spanning from two basement floors to seven above ground floors. It includes 48 office spaces, seven shared laboratories, co-working spaces, meeting rooms, and lounges. The spatial layout is designed to facilitate active networking among partner institutions and startups. Specialized equipment to support smooth research and development (R&D) for bio and medical startups has also been enhanced. Including the four buildings of Seoul Bio Hub, the total number of research equipment available in bio-medical startup support spaces operated by the city reaches 109 types and 251 units. Seoul expects that by reinforcing research equipment, it will directly provide ultra-high-cost bio-medical R&D equipment, greatly aiding technology development for startups and other small-scale companies that previously found it difficult to access such resources.
The economic impact is also clear. Since the opening of the Industrial Support Building in October 2017, Seoul Bio Hub has selected and nurtured 279 companies, achieving corporate sales of 79.1 billion KRW and investment attraction of 467.7 billion KRW. Especially following COVID-19, global interest in the excellence of 'K-Bio Medical' and the technology of Korean startups has increased, expanding collaboration opportunities with global companies such as Johnson & Johnson, Novartis, BMS, and Roche Diagnostics. Seoul plans to continuously support the entire development cycle of startups' pharmaceutical and medical device development by linking five major hubs?including Magok (pharmaceuticals), Yangjae (AI), and the upcoming Changdong-Sanggye (biomedical cluster)?with regional bio clusters.
The opening ceremony of the 'Global Center' was attended by Seoul Mayor Oh Se-hoon, Lee Suk-ja, Chair of the Seoul City Council Planning and Economy Committee, Lee Pil-hyung, Dongdaemun-gu Mayor, Oh Sang-rok, Director of KIST, Kim Jin-sang, President of Kyung Hee University, Ki Woo-sung, Vice President of Celltrion, Baek Seung-yeol, Vice President of Daewon Pharmaceutical, and Yoon Eul-sik, Director of Korea University Medical Center. In his opening remarks, Mayor Oh said, "The bio industry is an industry that realizes humanity's dreams and holds new opportunities and possibilities. We will pour our capabilities into it to elevate Seoul as a 'world-class bio cluster.' Centered on the Seoul Bio Hub Global Center, we will provide domestic startups with opportunities to scale up, fully support strengthening technological capabilities, creating future markets, and equipping Seoul with global competitiveness to lead the future."
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