Incheon Free Economic Zone Authority (IFEZA) recently announced that it will carry out a project to systematize and advance the innovative growth industrial ecosystem of Incheon Free Economic Zone (IFEZ), focusing on the bio and healthcare sectors.
This project, which is being promoted in cooperation with the Bio Center of Incheon Technopark (ITP), includes the establishment of a status analysis database within the IFEZ; setting up a collaboration network and council among resident companies; support for special regulations; support for technology commercialization; support for investment attraction capacity enhancement; support for participation in exhibitions to attract investment and promote companies; and operational support (satisfaction survey for supported companies), etc.
IFEZA and ITP will build a foundation including front and rear bio healthcare industries such as new bio drugs (vaccines), innovative new drugs, smart healthcare, new technology medical devices, and bio materials/parts/equipment. And the two bodies plan to actively support bio-healthcare-based front and rear ventures and foster startups entering the global market.
A spokesperson for ITP, explained “We plan to contribute to the strengthening of corporate business capabilities and the development of a new global bio-health industry base — through technical support for the bio and healthcare industries; comprehensive package support for global expansion; demand survey for technical difficulties; specialized consulting; and exhibition participation support.”
IFEZA’s Commissioner Yun Won-sok elaborated further, “This year’s innovation ecosystem creation project is expected to be of great help in establishing an innovation ecosystem centered on IFEZ’s core strategic industries. We will actively strive to support innovation clusters, such as establishing industry-academia research networks between local innovation organizations and resident companies, and strengthen corporate business capabilities — in order to create an innovation ecosystem of the future.”
The project will run for 10 months from this month to the end of this year, and in this regard IFEZA announced that it recently held the ‘2024 IFEZ Innovation Ecosystem Creation Project Launching Report Meeting’ at G Tower in Incheon’s Songdo International City.
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