DAEJEON < invest Korea

According to Yonhap News,

Daejeon-si is set out to create an ecosystem for new medicine startups based on mRNA·DNA in Daedeok Innopolis.

Daejeon-si said on May 30 that it secured the national budget of KRW 10 billion as it was selected for '2022 Industrial Innovation Foundation Project' hosted by the Ministry of Trade, Industry and Energy (MOTIE).

The key of the project is that universities and public organizations provide R&D infrastructure, which are hard to attain for SMEs and middle power companies on themselves, to support demonstration and commercialization.

In Daejeon-si, KAIST will be in charge of establishing facilities required to develop vaccines and medicines based on mRNA/DNA to respond to global infections diseases and rare diseases, and supporting involved companies.

Starting from this year to 2026, Daejeon-si will invest KRW 14.3 billion in total, combining the national budget of KRW 10 billion, the municipal budget of KRW 4.3 billion.

By doing so, it is expected to create a startup ecosystem of mRNA·DNA based new medicines, led by about 30 SMEs located in Daedeok Innopolis and research institutes working on mRNA·DNA medicines such as KAIST and the Korea Research Institute of Bioscience and Biotechnology (KRIBB).

youngs@yna.co.kr

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Source: Yonhap News (May 30, 2022)