Singapore-S Korea centre to boost cooperation in biomedical research


The KHIDI-A*STAR Medtech Development Centre, a joint collaboration between Singapore’s Agency for Science, Technology and Research (A*STAR) and the Korean Health Industry Development Institute (KHIDI), was officially opened on Monday (June 16).

A key cornerstone of the Memorandum of Understanding (MoU) signed between the two national agencies in December 2013, the centre will promote the co-development of medical technologies and pharmaceuticals between Singapore and South Korea, A*STAR said in a statement issued on Monday.

The centre will facilitate South Korean biomedical companies seeking to conduct biomedical technology innovation, first-in-human trials, registration and commercialisation of products in Singapore. Seven Korean small and medium enterprises (SMEs) have expressed interest in co-developing products with Singapore partners in the research and healthcare space, it said.

The companies and their local partners will also be able to tap on a US$5 million (S$6.3 million) research fund, set up as part of the MOU to help finance joint projects between South Korean and Singapore entities to register and manufacture products here, as well as market them to the region from here.

Successful recipients of the fund will base part of their operations in Singapore, which will create high-value jobs, according to A*STAR.

Student exchange programmes will also be arranged under the MoU. For example, the first group of Korean exchange students, comprising 20 post-graduates and staff from South Korea’s Dongguk University, visited last January to take part in the Singapore-Stanford Biodesign programme co-organised by A*STAR, the Economic Development Board (EDB) and Stanford University. Singaporean students are expected to learn about South Korea’s medical technology ecosystem when they embark on a study trip to Seoul next year.

“Singapore and the Republic of Korea share complementary strategies in the biomedical space. Korean companies want to regionalise and internationalise their operations through Singapore while Singapore wants to attract more biomedical companies to build a critical mass of such companies here,” Mr Lim Chuan Poh, Chairman of A*STAR, said.

“The opening of the Biomedical Sciences Development Centre will bring about a more institutionalised approach to fostering collaborations between the Korean biomedical companies and research partners in Singapore.”






Source : Channel News Asia | June 16, 2014


About thomasdinnocenzi

Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
This entry was posted in Business, Economy, Global Sourcing, Technology and tagged , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s