메뉴 바로가기 본문 바로가기

News

Songdo to become a hub for K-Bio labs... Incheon’s bio-industry to get a significant boost

Created date
2021-07-21

Bioventures and start-ups... More job opportunities, and a stimulated local economy

Incheon will get a new opportunity to advance to the forefront of Korea’s bio-industry thanks to its successful bid to host the “K-Bio Lab Hub,” a specialized support organization for start-ups in the bio industry. On July 9, Incheon was selected as the final winner of the bid for the “K-Bio Lab Hub Construction Project” commissioned by the Ministry of SMEs and Startups.

In particular, with all of the groundwork for a robust bio-industry already laid in Incheon, along with the city’s new “Bioengineering Personnel Training Center” (Incheon’s won the bid for the Center last year), building the “Incheon Bio Cluster” and the collaboration between industry, academia, research, and medicine are expected to gain more momentum.
 



▲ On July 9, Incheon was selected as the final winner of the bid for the “K-Bio Lab Hub Construction Project” commissioned by the Ministry of SMEs and Start-ups. 

 


On July 9, the Ministry of SMEs and Startups reviewed proposals made by five local governments, including Incheon, Gyeongsangnam-do, Daejeon, Chungcheongbuk-do, and Jeollabuk-do, and ultimately settled on Incheon as its new locale for the K-Bio Lab Hub project.

The K-Bio Lab Hub project involves building a specialized support infrastructure for start-ups in the biotechnology field, such as new drug development, to help nurture bio start-ups.

The K-Bio Lab Hub is based loosely on Lab Central, a Boston-based bio-startup support organization. Essentially, it is an infrastructure construction project aimed at offering a comprehensive range of support in terms of the facilities and equipment necessary for bio start-ups may require. It will also invite start-ups to move into the Hub, and provide the infrastructure required in experimenting, researching, producing clinical prototypes, and cooperating with other stakeholders in the industry, academia, research, and medicine.

With the K-Bio Lab Hub construction project expected to cost KRW 250 billion in government funds, the Incheon Metropolitan City Government and the Ministry of SMEs and Start-ups will look to discuss further funding details for the Hub sometime in the near future. By winning the bid for the K-Bio Lab Hub, Incheon is expected to build a complete cluster for the bio value chain in Songdo, expand job opportunities with more bio ventures and start-ups, and stimulate the local economy.

Both the Incheon Metropolitan Government and the Ministry of SMEs and Start-ups agreed on a preliminary feasibility study to ensure the viability of the Hub project. Given that the project passes the preliminary feasibility study this August, the budget will be created and construction will get under way in 2023~2024.
 

▲On July 9, the Ministry of SMEs and Start-ups reviewed proposals made by five local governments, including Incheon, Gyeongsangnam-do, Daejeon, Chungcheongbuk-do, and Jeollabuk-do, and ultimately settled on Incheon as its new locale for the K-Bio Lab Hub project. Image of Incheon Mayor Park Namchoon commenting on Incheon’s bio-industry at an event in 2020.


Incheon prepared since last year to win the K-Bio Lab Hub project, and it made extensive efforts to create the right atmosphere for a new hub for bio labs.

The Incheon New Deal announced in November last year included the city’s planto create a “Bio Lab Central” tailored to Incheon bio-industry environment. The Municipal Government also hosted meetings with overseas experts to help fine-tune its Bio Lab Central initiative in collaboration with other related organizations.

When the K-Bio Lab Hub project was announced in May, the Incheon Metropolitan City Government worked in tandem with the Yeonsu-gu Office to build a consensus among local residents in support of the project with online and offline petitions. Incheon also signed a memorandum of understanding with the Korean American Society in Biotech and Pharmaceuticals to bolster its global network.

In order to solidify the collaboration between industry, academia, research, and medicine Incheon hosted a round table conference in June, and invited representatives from major anchor organizations to discuss cooperation plans for establishing the K-Bio Lab Hub, and to renew each stakeholder’s commitment towards the project.

Furthermore, in the business plan submitted on June 14, Incheon’s strengths were presented in an organized and logical format to make its argument for the K-Bio Lab Hub more compelling.

▲ Incheon was selected as the optimal location for the new K-Bio Lab Hub based on its strengths, including its global access, locational advantages as a metropolitan city, the presence of several anchor institutions with global capabilities, and the ease of supply and demand for bio-industry experts.


Incheon offers several advantages over its competition thanks to its excellent access to global markets, locational advantages as a metropolitan city, the presence of several anchor institutions with global capabilities, and the ease of supply and demand for bio-industry experts.

In its bid for the project, Incheon also emphasized the potential for commercialization through clinical trials at local hospitals, such as the Gil Hospital, St. Mary’s Hospital, and Inha University Hospital, and further possibilities of attracting investments from both Korea and abroad.

To boost its chances of winning the project, Incheon increased its cooperative network to 87 organizations.

▲ To boost its chances of winning the K-Bio Lab Pub project, Incheon increased its cooperative network to 87 organizations. In addition to the 48 organizations that signed a memorandum of understanding with Incheon, the City Government entered into collaborative relationships with 39 organizations to systematically help support bio-startups according to their stage of development and position within the value chain.  ​​​​


In addition to the 48 organizations that signed a memorandum of understanding with Incheon, the City Government entered into collaborative relationships with 39 organizations to systematically help support bio-startups according to their stage of development and position within the value chain.

Moving forward, bio start-ups moving into the Lab Hub will receive extensive support from R&D to clinical trials, and commercialization, making it easier to grow into a unicorn.

Meanwhile, local residents also helped win the bid for the K-Bio Lab Hub project.

In the offline petition, 110,000 Songdo residents (total population 180,000)signed off in support of the Lab Hub, and more than 1,000 citizens supporting the project online as well.

Attachment
KOGL
KOGL: Source Indication (Type 1)

이 게시물은 "공공누리"의 자유이용허락 표시제도에 따라 이용할 수 있습니다.