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INSIDE INDUSTRY
Korea-Singapore Healthcare Incubator to support Korean firms in Singapore and Southeast Asia
Aims to bring 10 to 15 Korean companies operating in medical devices, medical technology, cosmetics/ cosmeceuticals.

Golden Equator, a group of companies spanning investment, consulting and the SPECTRUM technology and innovation business club – has, jointly with Korean regulatory and clinical research provider C&R Healthcare Global (C&R), launched the Korea-Singapore Healthcare Incubator. The Incubator will help 10 to 15 Korean companies expand into Singapore and Southeast Asia over the next few months. It will be based at SPECTRUM’s business club in DUO Tower near Singapore’s central business district.

C&R will identify and financially support Korean companies operating in medical devices, medical technology, cosmetics and cosmeceuticals. Golden Equator will provide the companies a suite of services - access to investors and business partners, advisory and commercialisation insights, and regional expansion and market entry strategies.

Shirley Crystal Chua, founder and CEO of Golden Equator, said: “The healthcare industry in the Asia- Pacific region is a 500 billion-dollar market, one of the world’s fastest growing regions. Innovations in this area, notably new technologies such as artificial intelligence and data analytics, present unique investment opportunities. Supporting Korean firms to locate in and understand the market opportunities here in Singapore and across Southeast Asia demonstrates our capabilities in working with high potential founders, firms and innovations around funding and commercialisation.”

C&R is appointed by the City of Seoul BioHub and Korean Health Industry Development Institution (KHIDI), a government agency, as an incubator. This is KHIDI’s first incubator in partnership with the overseas private sector.

Mr. Moon Tae Yoon, Chairman of C&R, said: “The MOU will allow both companies to mutually share their expertise. Via this opportunity, C&R can build an ecosystem which allows companies in the Korean bio-healthcare industry to expand globally.”

In his congratulatory remarks at the MOU signing ceremony, Mr. Lee Sangdeok, Ambassador of the Republic of Korea to Singapore said: "Singapore, as a gateway to the region, has the optimal conditions for Korean companies to bring their launch pads and further expand their business to the global market. As the bio-healthcare field can contribute to creating a new growth engine for both countries, taking this opportunity, I hope Korea and Singapore can strengthen our cooperation."

As the world’s fourth best healthcare infrastructure, Singapore is recognised as a strong testbed for developing innovative healthcare services and products, and serves as a gateway to Southeast Asia. According to The Economist, over the next five years healthcare markets in Southeast Asia like Indonesia and Philippines will exceed growth in BRIC healthcare markets.

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EDITORS' CHOICE  
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APBN Editorial Calendar 2018
January:
Obesity / Outlook for 2018
February:
Searching for the fountain of youth
March:
Women in Science - Making a difference
April:
Digestive health in the 21st century - Trust your guts
May:
Dental health - The root to good health
June:
Cancer - Therapies and strategies for better patient outcomes
July:
Water management- Technologies for biotech and pharmaceutical industries
August:
Regenerative medicine / Biotech start ups
September:
Digital healthcare / 3D printing
October:
Bones / Breast cancer
November:
Liver health / Top science research nations & institutions
December:
AIDS / Breakthrough of the year/Emerging trends
Editorial calendar is subjected to changes.
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