The K-Bio Lab Hub, designed to support research, development, investment, and export for bio startups, is set to be established in Songdo, Incheon.
On September 30, the Ministry of SMEs and Startups held a groundbreaking ceremony for the K-Bio Lab Hub at Yonsei University's International Campus in Songdo.
Modeled after LabCentral in Boston, a support organization for bio startups, the K-Bio Lab Hub aims to foster the growth of startups in this sector.
Scheduled for completion in November 2028, the facility will house 60 bio innovation startups upon its opening. Yonsei University will provide a foundation for research and industry-academia collaboration, while the city of Incheon will cover construction costs for the state-of-the-art facility.
The Ministry of SMEs and Startups will oversee the project, supporting technology development and growth for early-stage startups through the establishment of core research equipment and funding for research and development (R&D) programs.
The building will feature an operations control room and high-value special equipment areas on the first and second floors, 50 support spaces for early-stage companies on the third to seventh floors, and 10 spaces for growing companies on the eighth and ninth floors.
By next month, the Ministry plans to introduce 24 types of general-purpose research equipment to a temporary space at Yonsei University's International Campus, with a total of 134 advanced devices across 59 types to be established by the time the building is completed. Additionally, starting in 2029, six specialized programs, including R&D speed-up and technology solutions, will be implemented, providing 41.4 billion won in support to the 60 companies.
The Ministry anticipates forming an organic network by linking with the bio cluster infrastructure in the region, which includes companies like Celltrion, Samsung Biologics, SK Bioscience, Lotte Biologics, and Yonsei Severance Hospital.
Lee So-young, Minister of SMEs and Startups, stated, “The K-Bio Lab Hub will become a key cradle for South Korean bio startups to transform into global unicorn companies. We will consolidate the capabilities of our partner organizations to create a world-class bio startup hub starting from this groundbreaking.”
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.