The Korea Health Industry Development Institute (KHIDI) is looking for new tenants for the Cambridge Innovation Center (CIC) located in the Boston Bio Cluster, Mass., of the United States.

The recruitment is part of the “K-Blockbuster Global Expansion Support Project,” which offers tenancy in the C&D Incubation Office within the Cambridge Innovation Center. CIC is a shared office in Kendall Square, Boston, established in 1999.

KHIDI will select eight pharmaceutical and biotech companies wishing to enter the U.S., with preference given to innovative pharmaceutical firms and companies that have participated in the stage agency's global expansion support projects in the last three years.

Selected companies will receive rent support of 1.2 million won ($826) per month for up to three years, as well as global expansion consulting and local networking opportunities. After checking the announcement on the KHIDI website, applications can be made via email.

The agency supported 10 companies' moves into the cluster in 2022 and 30 companies' moves in 2024. This year, it plans to expand the program to include mentoring and company meetings.

“We will continue to help Korean pharma and biotech companies make the most of the C&D Incubation Office, located in the center of the Boston Bio Cluster, to expand their global partnerships and help them translate these activities into tangible outcomes,” said Kim Yong-woo, director of the Biopharmaceutical Industry Division at KHIDI.