HomeSouth KoreaSparkLabs Launches MediOpenLab

SparkLabs Launches MediOpenLab

MediOpenLab
Front of MediOpenLab

SparkLabs, a Seoul, South Korea-based early-stage venture capital firm and a startup accelerator, announced the launch and operational commencement of MediOpenLab, a platform specialized in nurturing bio and healthtech startups.

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.

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.

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 website until May 15, with early bird benefits offering free use of research equipment, meeting rooms, and locker rooms for the first month.

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.

VCWire

29/04/2024