Korea, Singapore launch cross-border healthcare incubator

The Korea-Singapore Healthcare Incubator (KSHI) will provide 10-15 Korean companies with consulting services to support digital transformation strategies and growth in Southeast Asia. Golden Equator has indicated it will invest in a number of the companies from its second technology fund. The program will operate out of the firm’s co-working and start-up services facility known as Spectrum.

“Korea is recognized as one of the best healthcare environments in the world, while Singapore has one of the best healthcare infrastructures in the world as well as a superior business environment, as well as being a great financial hub and a strong talent base,” Shirley Chua, founder and CEO of Golden Equator, told AVCJ. “The companies being selected will be the cream of the crop from Korea, with products or services that have been validated in their country and are now ready to move forward.”   

C&R was appointed to the program by the City of Seoul BioHub and the Korean Health Industry Development Institution (KHIDI), a government agency that claims to be the only organization responsible for fostering the health industry. KSHI is KHIDI’s first incubator partnership with the overseas private sector.

The healthcare industry in Asia Pacific is said to be worth $500 billion and has been projected to be worth as much as $4.3 trillion by 2030. The Korean government has reacted to this outlook with a number of health-tech initiatives, including a KRW150 billion ($133 million) healthcare fund and a pledge to establish a KRW113.5 billion fund to support life science start-ups through investments in industry and academia-linked R&D programs.

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• Topics
• North Asia
• Healthcare
• Early-stage
• GPs
• Southeast Asia
• South Korea
• Singapore