The incubation hub aims to help local and foreign healthcare start-ups easily set up in the Philippines and take advantage of the growing demand for healthcare.“Heal Venture Lab is a healthcare investment platform that aims to bridge the gap and promote cross-border collaboration in Asia by bringing technology and capital,” Dr. Jaemin Park, Managing Partner of Heal Venture Lab said.
The incubation hub is located on the 29th floor in Centuria’s new extension at Century Diamond Tower, which primarily serves as a free co-working space for all clinicians, medical engineers, pharma/medtech industry professionals, and overseas medical companies who want to enter the Philippines.According to Dr. Park, the Philippines tends to be overlooked by overseas medical companies due to its geographic and historical position, unlike Vietnam, Thailand, Indonesia, and Malaysia.
Furthermore, the signing of RA 11647 allows non-Philippine nationals to do business in the country or invest up to 100 percent of the capital needed for domestic enterprises. Dr. Park said they chose to locate in Centuria because it has a community of independent medical clinics not allied with large incumbent medical groups. These specialty medical clinics have a strong potential for growth to ride along the rise of ambulatory clinics in the Philippines to become clinic chains like the ones in the US.
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