10 Israeli firms to move into innovation hub
A FIRST batch of 20 companies and institutions, 10 of them from Israel, will be based at the China-Israel Innovation Hub when it opens next week.
Leading Israeli incubators, such as life science incubator Ehealth and Trendlines, which focus on medical and agri-food tech, will initially operate at the hub in the under-construction Taopu Smart City in Putuo District to serve high-tech and startup firms from Israel.
Both incubators, among the only 19 registered with the Israeli Innovation Authority, were attracted to the hub by the large market and strong production ability in China, said Qiang Hao, deputy general manager with the Shanghai Taopu Smart City Development Construction Co.
The opening of the innovation hub is a major step in Shanghai’s implementation of a national strategy to promote Chinese and Israeli scientific and technological innovation.
The opening ceremony will be held on December 5 along with innovation and startup competitions among companies.
Vice President Wang Qishan signed the China-Israel Innovation Cooperation Action Plan (2018-2021) during a visit to Israel in October last year.
To encourage more innovative firms to the hub, the Putuo District government launched an intellectual property bureau within the hub yesterday to help protect the intellectual property rights of the startup firms.
A professional team with the bureau will work along with the companies in the hub to offer
Israeli direct services and protections, said Wang Jianzhong, deputy director of the district’s market supervision bureau.
The intellectual property bureau will work together with Shanghai’s trademark and patent authority to offer legal consultation, patent analyzing and application services.
Putuo aims to develop the innovation hub into a demonstration zone on IPR protection in Shanghai and China, according to the district government.
The district has also established an investment foundation totaling 150 million yuan (US$21.4 million) to assist startup firms in the beginning stage within the hub.
“Many mature Israeli technology firms, especially those about to listed, can easily attract local investors, but those at the early stage of their development lack support,” said Li Wenbo, director of the Putuo’s science and technology commission.
A total of 18 preferential policies in nine categories will be released next week to further benefit the companies, Li said.