Seeking Mid-to-Long-Term Directions for Korea-Japan Bio Cooperation... 'Innovation Ecosystem Connect' Held

Japan Shonan iPark CEO Also Attends
Ministry of SMEs and Startups "Supporting Domestic Bio Ventures' Overseas Expansion"

Korean and Japanese bio experts gathered to discuss mid- to long-term cooperation directions.

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The Ministry of SMEs and Startups announced on the 19th that it held the ‘Korea-Japan Bio Innovation Ecosystem Connect’ at the 2nd Exhibition Hall of the aT Center in Yangjae, Seoul.

This was the third-day event of the Regulatory Sandbox Innovation Week, which started on the 17th. Toshio Fujimoto, CEO of Japan’s largest bio cluster Shonan I-Park, who has maintained a cooperative relationship with the Ministry of SMEs and Startups, participated along with domestic bio venture companies and venture capital (VC) representatives.

In his keynote speech, CEO Toshio Fujimoto shared the significance and achievements of Korea-Japan bio cooperation so far and presented a mid- to long-term cooperation vision focused on creating an Asian bio innovation ecosystem centered on Korea-Japan collaboration.

During the panel discussion, opinions from companies and VCs were heard on the theme of creating new markets based on Korea-Japan bio cooperation. Companies mentioned necessary support policies for sustaining Korea-Japan bio cooperation and achieving results, such as holding regular networking events with domestic and international VCs and pharmaceutical companies, establishing joint research and development platforms to promote open innovation, and supporting regulatory responses related to clinical trials and R&D in Japan.

Some of the companies participating in the panel discussion are conducting research and development while residing in Shonan I-Park. On the 4th, they also attended a joint Korea-Japan bio venture investor relations (IR) event in Boston, USA. One bio venture that participated in the event said, “The opportunity to meet global bio-specialized VCs and corporate venture capitals (CVCs) through a systematically established network was attractive,” adding, “If matching events are regularized by strengthening cooperation among Korea, Japan, and the USA in the future, it could provide better opportunities for domestic bio ventures.”

Yoon Seok-bae, Director of the Special Zone Policy Division at the Ministry of SMEs and Startups, said, “To enter the global bio market systematically and strategically, it is most important to activate open innovation at the bio ecosystem level between Korea and Japan,” and added, “We will spare no support for domestic bio ventures’ overseas market entry.”

This content was produced with the assistance of AI translation services.