SparkLabs Launches MediOpenLab, the First Dedicated Platform for BioStartup Cultivation in Korea

Startup accelerator unveils Korea's first shared laboratory in partnership with the Korea Association of Health. The lab provides an optimal platform for bio enterprise development with investment, nurturing programs, and R&D infrastructure.

SEOUL, South Korea, April 23, 2024 /PRNewswire-PRWeb/ -- SparkLabs, a global early-stage venture capital firm and the leading startup accelerator in Asia, has announced the launch and operational commencement of MediOpenLab, a platform specialized in nurturing bio and healthtech startups.

MediOpenLab, orchestrated by the Korea Association of Health, which was founded in 1964 to enhance the health and quality of life for humanity and is under South Korea's Ministry of Health and Welfare. The Korea Association of Health invited and partnered with SparkLabs to operate MediOpenLab. SparkLabs created SparkBioLab as a new innovation hub providing comprehensive support through R&D infrastructure, commercialization programs, follow-on investment, and open innovation opportunities including PoCs with the Korea Association of Health.

Located within the Korea Association of Health headquarters in Gangseo District of Seoul, the shared laboratory spans approximately 10,000 square feet and features cutting-edge research equipment worth approximately $1.6 million. Equipment includes ultra-low temperature freezers and biological safety cabinets from Thermo Fisher Scientific and confocal microscopes from Leica, complemented by a 'Digital Healthcare Analysis Zone' utilizing over 17 million health examination records accumulated by the Association. The laboratory, capable of accommodating about 100 people, already has confirmed entries from SparkLabs portfolio companies such as Genecast, InnoGenix, and Genoplan.

SparkLabs offers a specialized accelerator program to facilitate the commercialization of innovative technologies by bio startups. The program includes one-on-one office hours and mentoring with SparkLabs' core partners, investor relations opportunities with biotech investment specialists, and participation in SparkLabs Korea's flagship demo days, focusing on guidance and support for fundraising and growth.

Additionally, annually, top-performing resident companies will have the opportunity to engage in open innovation and strategic partnerships with the Korea Association of Health's MediCheck, which is the leading health examination organization in South Korea and conducts over 2 million health check-ups every year.

During the inauguration ceremony of MediOpenLab on April 15, Jimmy Kim, Co-founder of SparkLabs stated, "With extensive experience and understanding from supporting bio startups like Genecast, Genoplan, and CurioChips, SparkLabs is poised to make MediOpenLab a pivotal platform for cultivating successful bio enterprises through our partnership with the Korea Association of Health."

Chairman Kim In-won of the Korea Association of Health expressed, "As we celebrate our 60th anniversary this year, the Korea Association of Health is dedicated to continuing our mission of health promotion. We believe MediOpenLab will become a space of dreams and innovation for the advancement of human health, sharing our vast data and infrastructure to foster innovation in the bio and healthcare sectors."

MediOpenLab is currently accepting applications for eight resident companies from all areas of bio and health, with added incentives for companies in liquid biopsy and precision medicine. Interested companies can apply for residency consultation and tours through the MediOpenLab website until May 15, with early bird benefits offering free use of research equipment, meeting rooms, and locker rooms for the first month.

Media Contact

Bernard Moon, SparkLabs Korea, 6504545244, [email protected], www.sparklabs.co.kr

SOURCE SparkLabs Korea