'Innovation-Driving Shared Office' CIC Comes to Korea... "We Will Be a Bridge to the World"

"We have successfully established large-scale centers in innovative countries, but Korea was missing from that list. We have been striving to find the best partners in Korea to create excellent facilities. Moving forward, we want to serve as a bridge to enable Korea's innovative companies to operate globally."

Team Row Cambridge Innovation Center (CIC) CEO (left) and Oh Sang-hoon, CEO of Cha Biotech, are holding a press conference at Bio Korea held at COEX, Gangnam-gu, Seoul on the 10th.
[Photo by Lee Chun-hee]

On the 10th, Tim Rowe, CEO of the Cambridge Innovation Center (CIC), revealed plans to establish a CIC in Korea during a meeting with reporters at Bio Korea held at COEX in Gangnam-gu, Seoul. CIC is a shared office company headquartered in Cambridge, the core area of the Boston region, which is considered the world's largest bio cluster. Beyond being a simple shared office, CIC aims to foster innovation through active networking among companies from various advanced industries, including pharmaceuticals, bio, IT, and space industries. Currently, about 30 Korean companies are residing in CIC Cambridge through support programs from the Korea Health Industry Development Institute.

Following five locations in the U.S., Europe (Berlin, Warsaw, Rotterdam), and Japan (Tokyo, Fukuoka), CIC Korea will be the 11th global site. The partner chosen by CIC Korea is Cha Bio Group. On this day, Rowe signed a Memorandum of Understanding (MOU) with Oh Sang-hoon, CEO of Cha Biotech. Rowe stated, "Cha Bio Group is a hospital-based group that also operates a university," adding, "Medical treatments require many partners to reach patients, so through cooperation with Cha Bio, Korean startups residing in CIC will be able to get closer to patients."

Cha Bio Group is constructing a Cell and Gene Bio Bank (CGB) in Pangyo Techno Valley 2, Seongnam-si, Gyeonggi-do, with a total floor area of 66,115 square meters spanning from four basement floors to ten above ground. The facility is scheduled for completion in December next year. The plan includes manufacturing facilities compliant with the U.S. current Good Manufacturing Practice (cGMP), Contract Development and Manufacturing Organization (CDMO) facilities, and a stem cell bio bank.

CIC Korea aims to establish an innovation campus specialized in the Cell and Gene Therapy (CGT) industry by securing about 20% of the CGB facility space, accommodating approximately 300 startups. Resident companies will have free access to Cha Bio Group's infrastructure and capabilities, including CDMO services from Matica Biotechnology, clinical trial services from Seoul CRO, and research and analysis services from Cha General Research Institute, as well as all CIC facilities and networking opportunities located in major global regions. Although the CGT industry is central, the campus is not exclusive to CGT startups. It is open to startups, innovation teams from large corporations, and companies from all sectors, including pharmaceutical and bio industries beyond CGT.

The Cambridge Innovation Center (CIC) building located in Cambridge, Boston, USA
Photo by Lee Chunhee

Rowe emphasized that such networking is CIC's greatest strength. He said, "To work together, you first need to meet, get to know each other, and build trust," adding, "Just like meeting at conferences such as Bio Korea, CIC creates a space for interaction where people can become acquainted over coffee." He continued, "Many truly good and novel ideas are lost due to a lack of networking," emphasizing, "CIC's purpose is to ensure that ideas that can contribute to society are transformed into actual products and treatments."

Initially, CIC Korea was expected to be built in downtown Seoul, mainly in Gangnam, as Rowe had stated last year that he was "looking mainly around Gangnam, Seoul." CIC Tokyo is also located in the downtown Toranomon area. However, regarding the choice of Pangyo, Rowe explained, "It was not easy to find space suitable for research laboratories in Gangnam," adding, "Even the world's largest bio clusters, such as Boston and San Diego, do not have laboratory facilities in city centers." The Kendall Square cluster, known as the "most innovative one square mile in the world," is actually located in Cambridge, near Boston, not in Boston itself, and the San Diego cluster is centered in the La Jolla area, about 30 minutes from downtown. Rowe said, "Pangyo already hosts many life science companies," and "I believe it has high potential to become a cluster among the areas surrounding Seoul."