The Ministry of SMEs and Startups (Minister Oh Young-joo, hereinafter referred to as the Ministry of SMEs and Startups) announced on the 10th that it listened to the opinions of experts and companies at the Yonsei Quantum Complex on the Yonsei International Campus located in Incheon to discuss ways to enhance the pharmaceutical and bio venture ecosystem.
This meeting, held as a follow-up measure to the 'Plan to Create an Innovation Ecosystem for Pharmaceutical and Bio-Ventures' announced at the Ministerial Meeting on Strengthening Industrial Competitiveness on January 15, was arranged to discuss ways to strengthen the new drug development capabilities of bio-ventures using AI and quantum computers and to help Incheon establish itself as a world-class bio cluster.
Experts emphasized that AI and quantum computers can dramatically shorten the time and cost of new drug development, and that active discussion and new attempts are necessary as they can serve as an opportunity for our bio ventures to make a new leap forward.
AI New Drug Convergence Research Institute Vice President Hee-kyun Kim announced that they are conducting AI new drug development R&D project planning together with the Small and Medium Business Administration. Han In-seok, head of the K-Bio Lab Hub Business Unit, announced that they will establish a K-Bio Lab Hub strategy to systematically support the new drug development capabilities of bio ventures utilizing quantum by establishing a partnership with the Yonsei University Quantum Business Unit.
In addition, various opinions were presented on how to maximize the opportunities and strengths of the regional bio ecosystem through activating joint research between universities and companies, collaboration between Incheon's pharmaceutical companies and venture companies, and strengthening cooperation with global clusters such as Japan to establish Incheon as a global bio cluster.
Immediately after the meeting, Minister of SMEs and Startups Oh Young-joo visited the first quantum computer center in Korea to hear about Yonsei University’s plans for utilizing quantum computers and discuss cooperation measures with venture companies.
Minister Oh said, “In order to secure a super gap in the bio field, the use of AI and quantum computers is a new opportunity, and the bio ecosystem of the entire country can be advanced only when the local bio ecosystem is activated.” He added, “As we are building the K-Bio Lab Hub here in Songdo, we will spare no support so that Incheon can grow into a world-class bio cluster specializing in new drug development.”
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