Oxford: Isis Innovation establishes business incubator in China
Isis Innovation, the technology transfer company of the University of Oxford, has created a business incubator for foreign companies keen to establish a presence in China. The new 100,000 sq ft technology business incubator, Jinhui International Technology Transfer Centre, will accommodate up to 100 high technology companies working in fields such as automotive components, materials, agriculture, industrial automation and software.
The centre provides a complete range of global-standard business incubator services including business setup, recruitment, fundraising, company acceleration and government grant support. In partnership with European collaborators, the incubator will provide industrial design and product prototyping facilities that are unique in China.
Isis formed the Guangxi Liuzhou Jinhui International Science and Technology Company, which manages the business technology incubator, in June this year. Jinhui is the second joint venture company established by Isis in China.
In order to sustain Chinese economic growth, the national government, in its 12th five-year plan, announced an emphasis on importing leading innovations and talented start-up teams. Schemes, such as the National 1,000 Talents Programme, have been established to provide funding support for both Chinese and foreign nationals looking to start companies. Numerous local, regional and national support schemes have enabled Chinese companies to access overseas experts and import technologies. In addition, Chinese entrepreneurs are encouraged to search for foreign investments opportunities that will improve their portfolio of products.
Liuzhou, with a population of 3.71 million, is home to 3,000 companies including a number of joint ventures created by industrial giants such as General Motors, Nissan and Renault. The mayor of Liuzhou, Mr Xiao, said: “Liuzhou is developing into an international economy. With the ongoing development of the city we are committed to gaining access to the world's best new ideas in vehicle and automobile components, new energy products, non-ferrous metal materials processing, displays, creative software, tourism and other business fields.”
Dr Hongzhi Wang, director of Jinhui, added: “The incubator has been specifically designed to serve the needs of both foreign businesses new to Liuzhou and innovative local businesses. As more Chinese companies begin to undertake their own product research and development we have identified an opportunity to provide world-class product design in the heartland of Chinese manufacturing.”
According to Dr David Baghurst, head of Isis Enterprise Asia and Jinhui project lead: “Many overseas companies focus their Chinese expansion aspirations on the megacities of Shanghai, Beijing and the Pearl River Delta region. However, other excellent opportunities exist inland where many local governments are focusing efforts on establishing innovative technology companies. With our team’s experience in growing businesses in China, we are creating the ideal long-term environment for company development. We are keen to talk to innovators keen to start their China journey with support from the Isis international teams based in the UK, Hong Kong and Liuzhou.”
