Over 450 delegates attended another hugely successful AusBiotech-hosted Asian investment series recently with fifteen Australian life science companies presenting to two major investment hubs in Asia and connecting with international investors.
The events, held in Hong Kong and Shanghai in mid-March, culminated in the signing of a partnership arrangement to establish a new medtech incubator in Shanghai.
With Asia rapidly emerging as a driver of growth in biotechnology research and investment, these events provide an important opportunity for Australian life science companies to present their business case and leverage the booming Asian opportunity, a point echoed by Neuroscience Trials Australia CEO, Dr Tina Soulis, who was part of the delegation.
“As first-time attendees to an Asian mission (and part of the Shanghai delegation), the whole event exceeded our expectations,” Dr Soulis said.
“The number of quality attendees were high, the engagement and interest in the Australian clinical trial landscape genuine and the event well organised. It was well worth us attending as the interest in engaging Australia definitely there.”
The Australia China Technology Incubator P/L (ACTI) and Chinese life science incubator, Joyin Innovation & Manufacturing Center (JIMC), signed the medtech incubator deal at a signing ceremony in Shanghai in front of over 200 life science investors and senior Chinese healthcare industry representatives.
The incubator was formally established in Zhangjiang Life Science Innovation Park in Shanghai, home to around 2,000 local healthcare companies.
The establishment of ACTI and JIMC’s project is evidence of the increasing life science and commercial healthcare linkages between China and Australia. The joint venture’s vision is to construct a strong and stable bridge between investment and cooperation for biotech projects between the two countries.
Huang Lihong, Deputy Director of Shanghai Science and Technology Venture Centre and the Consulate General of Victoria in China, Tim Dillon, were both on hand to officiate the ceremony.
Mr Dillon called the establishment of the incubator a ‘great achievement’ for Shanghai and Victoria and applauded ACTI’s aims of introducing Victorian and Australian biotech projects to China. Over the next four years, ACTI will evaluate, educate and assist more than 200 Australian medtech and life science companies wanting to enter the Chinese market. The incubator will provide much-needed skills, knowledge, and experience to Australian science entrepreneurs through its 3-month intensive China-based residency program.
The ACTI incubator has already received active government support, being granted $500,000 in funding from the Australian government’s Department of Industry, Innovation and Science. As well as strong backing from both the Shanghai government and Victorian State Government. As ACTI is in the process of establishing its Australian headquarters in Melbourne. The ACTI incubator is the first to be fully focused on both Australian and Chinese life science sectors and is a model of future exchange of intellectual and physical capital between China and Australia.
ACTI is a new incubator, funded by the Australian Federal Government's Incubator Support Program and focusing on facilitating access to the China healthcare market by Australian companies in the medtech and related industries.
Joyin Innovation & Manufacturing Center (JIMC) was founded in 2008 and focuses on life science innovation and commercialisation, providing support and advice to over 150 local life science entrepreneurs, across JIMC’s three incubators in Shanghai.
AusBiotech has confirmed it will be conducting both events again in Hong Kong and Shanghai in 2019.
