South Korea Announces $102 Million Biotech Startup Fund

Published: Apr 06, 2017

April 5, 2017 -- The government of South Korea has announced a $102 million fund to support biotech startups in the country. Already a biopharma center, South Korea wants to augment the industry, hoping to create jobs and boost the economy. The fund was alternately described as building infrastructure, providing money for young biotech entrepreneurs and aiding venture capitalists (probably by starting companies that VCs would support later). South Korea believes that biotech, along with IT, represents the future, and the country wants to participate in its global development.

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