Seoul Metropolitan Government, in collaboration with the Ministry of Health and Welfare, is accepting applications from promising bio companies in Seoul for participation in the “Hospital-Based Medical Data Utilization Support Program” until April 28. This initiative aims to facilitate joint research by connecting medical data-centered hospitals nationwide with innovative bio firms.

The program has been designed to address the increasing demand for data utilization in corporate settings, driven by advancements in AI and big data technologies. By enabling bio companies to collect and utilize dispersed medical data according to their research and development needs, the initiative seeks to support cutting-edge medical innovation.

Since 2020, the Ministry of Health and Welfare has been running the “Medical Data-Centered Hospital Support Program,” which helps hospitals build and manage data infrastructure for research and product or service development. Currently, 43 hospitals across the country, including Samsung Medical Center and Seoul National University Hospital, have been designated under this initiative.

Eligible participants in the program are small and venture companies in the healthcare sector that have been established within the past 10 years and are based in Seoul. Through a matching process between hospitals and bio companies based on data needs, approximately seven companies will be selected for participation.

The chosen companies will receive up to USD 34 thousand(KRW 50 million) in funding for medical data processing, utilization, and expert consulting. Additionally, they will gain access to facilities and research equipment at Seoul Bio Hub, as well as customized support programs to facilitate market entry and business expansion both domestically and internationally.

Through this program, Seoul City aims to help bio startups reduce the time required for medical data exploration while also supporting researcher matching and expert consulting within hospitals.

Joo Yong-tae, Director-General of Seoul’s Economic Policy Office, stated, “Following the successful completion of last year’s pilot program—the first of its kind led by a local government—we are launching this initiative to further stabilize and enhance collaboration between medical data-centered hospitals and promising bio startups in Seoul. By increasing the value of medical data, we aim to accelerate innovation and growth in the bio-medical industry.”