K-Bio Lab Hub, Fostering Innovative Startups in the Pharmaceutical and Bio Sector

Recruitment of New Resident and Membership Companies

The K-Bio Lab Hub Project Promotion Team of the Small and Medium Business Technology Information Promotion Agency announced on the 14th that it is recruiting new resident and membership companies to foster innovative startups in the pharmaceutical and bio sectors, in collaboration with the Incheon Free Economic Zone Authority.

'K-Bio Lab Hub' is a large-scale mid- to long-term project with a total budget of 272.6 billion KRW over nine years starting from 2023. It aims to establish a world-class bio startup fostering infrastructure in Songdo, Incheon, to nurture innovative startups in the pharmaceutical and bio fields.

This recruitment is part of a pilot project conducted over three years starting this year before the infrastructure is completed, aiming to pre-discover and nurture promising pharmaceutical and bio startups with excellent innovative technologies.

Companies selected as resident or membership targets will be supported with space usage as well as acceleration, commercialization, investment, networking, and open innovation according to their growth stages.

The application period is from the 14th to the 5th of next month, and actual residency is expected to begin in mid-March. Detailed application information can be found on the Small and Medium Business Technology Information Promotion Agency's website.

Han In-seok, head of the K-Bio Lab Hub Project Promotion Team, said, "We look forward to the participation of pharmaceutical and bio startups with innovative technologies for the sustainable growth of capable bio startups."