China-Canada tech innovations find new paths
As China encourages entrepreneurship and innovation, Canada’s innovative sectors are starting to seize on the opportunity to enter the booming market.
During the recent 2015 China (Beijing) International Technology Transfer Convention (ChinaITTC), the annual event that bridges technology cooperation and transfer between China and the world, innovators and investors from China and Canada gathered in a parallel session to discuss the potential opportunities.
Canadian companies and research institutes brought over 90 technologies including biomedicine, new material, telecommunication and clean technology.
ChinaITTC is one of the primary platforms hosts in China to connect China and overseas high-tech companies and research institutes to cooperate and serve in the Chinese market.
Over 40 countries and regions sent delegations to attend this year’s ChinaITTC. It was reported that about 300 high-tech projects were reached this year.
“Canada and China have formed a complementary relationship in many fields of technology cooperation including market, financing and high-tech industrialization,” said Song Yijun, the counselor of the Ontario office of the Canadian embassy.
Representatives from the Chinese and Canadian governments, investors and research institutes joined the event to share their ideas to continue the technological cooperation between the two countries.
Stuart Browne, CEO of Pycap Venture Partners of Canada, emphasized the opportunities for Chinese investment in Canadian technologies. Professor Mohini M. Sain, on the forestry faculty at the University of Toronto, talked about innovation and talent nurturing in sustainable Bio-Nano economy.
China Canada Angels Alliance (CCAA), a new channel to boost the bilateral cooperation, was launched and introduced in the event.
CCAA is an investment fleet that has 20 listed companies including China giant Internet company Sohu and five funds which allied to focus on investing in Canadian high-tech companies and help them find Chinese partners.
“China will have nearly twice the number of Internet users as the US and Japan; it is important for the global smartphone and Internet technologies companies,” said Randall Howard, a veteran Canadian angel investor.
Besides the IT technologies, cooperation between the two countries hinges on the challenges that China is facing, such as environment and public health.
China’s first municipal running water UV disinfection treatment plant in Tianjin adapted the technology from the cooperation between the two parties.