国产av不卡一区二区_欧美xxxx做受欧美_成年人看的毛片_亚洲第一天堂在线观看_亚洲午夜精品久久久中文影院av_8x8ⅹ国产精品一区二区二区_久久精品国产sm调教网站演员_亚洲av综合色区无码一二三区_成人免费激情视频_国产九九九视频

USEUROPEAFRICAASIA 中文雙語Fran?ais
China
Home / China / View

The promise of biotech for China, UK

By Peter K. Crane and Thomas Bray | China Daily Europe | Updated: 2016-10-30 14:34

The promise of biotech for China, UK

Natural mutual benefits emerge for Chinese investors in Britain's early-stage life-science companies

Recently, China has shifted its strategic investment toward high-technology assets. Why does it matter to the UK? Will the UK biotech startup scene benefit?

In April, Chinese Premier Li Keqiang spoke at the Great Hall of the People on the importance of biotechnology as a key pillar that would reposition China as an innovation powerhouse. It was a key moment in the growth of a new industry and an exciting moment for Western entrepreneurs looking for opportunities to access lucrative new markets.

China has already shown the world how its vast technological capacity can rearrange global markets to its favor in areas of lower-value added technology.

Identified as a key strategic industry in 2009, China began the concerted development of a domestic photovoltaics industry. The exponential growth that ensued, along with favorable global market conditions positioned China by 2016 as a world leader in photovoltaic capacity, with estimates that it will have the capacity to produce 51 GW of solar power next year, more than double the 2010 global production.

Now, as the return on traditional drivers of economic growth begin to shrink, the Chinese central government is looking for new growth areas to boost economic development as it transforms the country into an R&D-intensive innovation economy. Investment in biotechnology, a traditionally high-risk but high-value-added industry, will play a crucial role in the repositioning.

Biotechnology, however, is intrinsically different from photovoltaics. Solar power is fundamentally dependant on the production of pure silicon - a technological discovery that took place almost 70 years ago - and profits based on the incorporation of silicon, as photovoltaic wafers into cells relies on both a manufacturing value chain and a photovoltaic plant size, both of which may be scaled with sufficient investment at low-risk.

The biotechnology industry makes new technological discoveries based on interactions that take place inside living organisms. These interactions are inherently complex and poorly understood. As a result, investment in therapeutics, diagnostics and medical devices are considered high risk. Some technologies are easily scaled (prosthetic hips, DNA swab tests), whereas many are not (gene therapy, immunotherapy).

As a result, despite being designated a strategic industry, the Chinese biotech industry will not experience the growth rates seen in the solar industry, and internal investment yields will be relatively less predictable. This has been well understood in China for some time, so preparation for the transition to an R&D-intensive economy capable of generating high-value-added technologies have been taking place since the early 1980's. Massive infrastructure projects have yielded the creation of thousands of R&D industry parks across the country. More than 400 of them have recently been designated exclusively as biotechnology parks.

Central efforts have stimulated Chinese investors to look abroad with unprecedented appetite for access to early-stage biotechnology. As the call for strategic, government backed foreign investment in high-value-added technologies brings investors to the UK, new investment opportunities await early-stage companies. This is chiefly because Chinese investors view the UK as an attractive location for investment, some of the reasons for which are outlined below:

The UK has world-leading academic institutions (Cambridge-Oxford-London) in close proximity. If pressed, one could have a breakfast meeting in Oxford, attend a lunch seminar series at the Cambridge Science Park and attend a dinner function in central London. Known collectively as the "golden triangle", these locations, together with other nearby startup ecosystems, function as focal points for successful company creation.

University affiliated technology transfer offices ensure that fledgling startups are provided with IP protection, capital and advice to help them securely and effectively launch an innovative science businesses. Protection of IP remains the predominant concern for early-stage ventures in the UK.

The UK has a highly educated diaspora of Chinese STEM graduates. Upon graduation, these people are encouraged to return to China and establish independent companies or academic labs by highly successful provincial and national-level government-facilitated programs.

An established record of successful investor exits and profitable companies has attracted perpetual "evergreen" funding sources and innovative financing models for early-stage companies. These funds have trickled down into the startup community, such that access to funding is now considerably better than five years ago. This results in more companies being at a stage to raise more post-seed funds from international investors. In addition, a devaluation in the pound sterling since the Brexit vote has made the UK an even more attractive opportunity for overseas investors looking to acquire world-class technologies.

A mature start-up ecosystem ensures that young and inexperienced companies are able to access critical skills, knowledge and investor networks for at entry level costs. Young research organizations and those led by entrepreneurs, such as the Innovation Forum, provide training, accelerator competitions and mentorship to teams of young entrepreneurs to speed up their development. These organizations are optimally geared to engage with high-risk, early-stage projects, and provide startups alternative modes for development not necessarily gated by whether or not capital has been raised.

It would appear then, that there is a natural mutual benefit for Chinese investors and UK early-stage life-science companies.

Why, then, are early-stage UK biotech companies not engaging more with Chinese partners? And why have we not yet seen a large scale purchase of early-stage technology assets in Chinese firms?

We have observed firsthand the following three issues repeated during initial meetings between early-stage UK biotech entrepreneurs and Chinese investors. Alone or in combination, they preclude otherwise natural, mutually beneficial partnerships:

Discussions break down at the language barrier. Early-stage companies without a Chinese-speaking executive are restricted during initial engagement meetings with investors. Professional third-party translators capable of discussing novel technologies are expensive enough to preclude continued reliance on their services. Startups must also ensure that any translation service signs nondisclosure agreements before a formal meeting, further reducing this as an attractive option. All formal bilingual documents must further be approved by a qualified interpreter before signing, as contractual agreements often state that the original language of the contract will take precedence if and when discrepancies emerge.

UK companies do not understand how their technology will be protected. A well-protected intellectual property portfolio plays a central role in the evaluation of any biotechnology company. In the UK, bio-entrepreneurs avoid sharing confidential information until an enforceable NDA is structured and agreed upon. The enforceability of an NDA signed with a Chinese partner is poorly understood by bio-entrepreneurs in the UK. Cautious startups may not divulge information, frustrating investors and preventing further discussion.

Conditional relocation to China as part of a funding round stops partnering. Early-stage companies are often embedded in the local ecosystems from which their technology has been spun out, with a developed a network of advisers, business contacts and often access to local facilities. International relocation at an early stage is not an option for young companies looking to mitigate risk.

In conclusion, mutual understanding is essential if fruitful collaborations are to be developed, which in turn may require both parties to deviate from their typical domestic partnering strategy.

Many UK-based early-stage startups are beginning to engage with Chinese investors. Engagement should be necessitated by validation of the Chinese partner, using knowledgeable UK and international support organizations (such as ChinaBio, CBBC, Dynasty Bio and others). Further validation is asserted if the investor has a physical presence and permanent staff in the UK.

Chinese investors must move beyond the chief incentive of up-front payment in exchange for relocation, ownership or a majority equity stake in a company. Other benefits, such as preferential regulatory environments, free use of expensive lab equipment and facilities and access to vast data sets or human tissue banks are all lucrative opportunities very much sought after by UK based startups. These opportunities must be clearly articulated in an open and transparent way.

Most important, both parties must focus on the core elements of trust and friendship, and exercise patience and understanding when manageable differences appear. Only then will the facile transfer of high-value-added UK biotechnologies be set on the path of Chinese market entry.

Peter K. Crane and Thomas Bray are directors for global biotechnology accelerator The Innovation Forum. The views expressed do not necessarily reflect those of China Daily.

Editor's picks
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
欧美96在线丨欧| 亚洲天堂av高清| 色婷婷综合激情| 亚洲mv大片欧洲mv大片精品| 亚洲色图另类专区| 日本一区二区视频在线| 2023国产精品| 成人国产在线观看| 国产精品一区专区| 国产制服丝袜一区| 精品一区中文字幕| 麻豆国产精品777777在线| 三级亚洲高清视频| 欧美在线免费| 欧美激情第8页| 亚洲精品成人无限看| 欧美xxxxx视频| 日本精品黄色| 日韩欧美视频专区| 欧美成人激情| 国产精品99久久精品| 99久久综合| 美丽的小蜜桃4春潮| 日韩你懂的电影在线观看| 精品视频在线看| 欧美日韩在线播放一区| 欧美丝袜丝交足nylons图片| 欧美日韩在线一区二区| 在线播放日韩导航| 日韩欧美123| 精品国产一区二区三区久久久蜜月 | 男男互摸gay网站| 丁香六月婷婷| 夜色福利刺激| 污网站在线看| 91这里只有精品| 成人高清免费在线| av美女在线观看| 免费观看欧美大片| 亚洲精品777| av成人app永久免费| 日韩aaa久久蜜桃av| 欧美日韩精品一区二区视频| 91青青国产在线观看精品| 亚洲国产日韩欧美在线| 91久久视频| 日日欢夜夜爽一区| 激情五月婷婷综合网| 国产成都精品91一区二区三| 久久综合色之久久综合| 中文字幕乱码久久午夜不卡| 日韩一区在线看| 亚洲成a人v欧美综合天堂下载| 日韩欧美国产视频| 欧美精品在线观看一区二区| 久久这里只有精品6| 亚洲丝袜美腿一区| 日韩在线综合| 一本综合久久| 国产在线精品免费| 久久五月婷婷丁香社区| 亚洲美腿欧美偷拍| 色素色在线综合| 日韩精品中文字幕一区| 亚洲深夜福利视频| 欧美大片网站在线观看| 日韩a视频在线观看| 日本h在线观看| 免费高清特黄a大片| 黄色小视频在线免费观看| 污污在线观看| 日韩成人综合网| 久久99国产精品视频| 午夜日韩激情| 久久国产福利国产秒拍| xf在线a精品一区二区视频网站| 综合久久久久久| 欧美在线一区二区| 日韩av一卡二卡| 欧美乱人伦中文字幕在线| 四虎成人精品| 成人免费观看www在线| 日韩资源在线| 久久一卡二卡| 日本99精品| 国产电影一区二区在线观看| 奇米888四色在线精品| 97精品国产露脸对白| 亚洲少妇视频| 俺来也官网欧美久久精品| 四虎视频在线精品免费网址| 国产探花在线精品一区二区| 中文在线不卡| 成人精品国产免费网站| 亚洲欧美日韩中文播放| 欧美日韩精品免费观看视频 | 另类综合日韩欧美亚洲| 久久久不卡网国产精品二区| 精品福利一区二区| 亚洲国产精品高清久久久| 欧美高跟鞋交xxxxxhd| 国产精品视频一区麻豆| 色av一区二区三区| 在线视频国产区| 99精品美女视频在线观看热舞| 成久久久网站| 美日韩一区二区| 欧美激情一区不卡| 欧美色综合影院| 中文字幕在线观看日韩| 亚洲线精品久久一区二区三区| 四虎最新地址发布| 老司机av在线免费看| 中文成人激情娱乐网| 91综合在线| 精品在线观看免费| 国产精品色一区二区三区| 色国产综合视频| 国产小视频国产精品| 欧美成人高清手机在线视频| 特级毛片在线观看| sm在线播放| 亚洲免费观看高清完整版在线观| 国产欧美二区| 久久久久国产精品厨房| 欧美视频一区在线| 日韩在线小视频| 91视频久色| 你懂的免费在线观看视频网站| 666av成人影院在线观看| 国产尤物视频| www.xxx.国产| 经典三级在线| 涩涩涩久久久成人精品| 黄色亚洲大片免费在线观看| 99在线精品视频| 色狠狠色狠狠综合| 久久亚洲精品一区| 黄色大片免费看| 免费在线看黄网站| 7m精品国产导航在线| 午夜一级久久| 1区2区3区欧美| 欧美成人免费网站| 国精产品一区一区三区有限在线| 日本wwwwwwwzzzzz视频| 污污视频在线| 九九综合在线| 国产精品一区二区三区网站| 欧美日韩久久久久| 日韩亚洲第一页| xvideos入口| 国内高清免费在线视频| 国产欧美日韩影院| 国产乱淫av一区二区三区| 欧美丝袜第一区| 久热国产精品视频| 男女羞羞电影免费观看| 亚洲私拍视频| 狠狠入ady亚洲精品经典电影| 久久久久国产成人精品亚洲午夜| 91精品国产综合久久久久| 国产91成人在在线播放| 一级毛片免费看| 91p九色成人| 亚洲国产激情| 亚洲女与黑人做爰| 国产午夜精品视频免费不卡69堂| 美女裸体自慰在线观看| 国内高清免费在线视频| 图片区亚洲欧美小说区| 久久精品夜色噜噜亚洲a∨| 欧美大片在线观看一区| 青青久精品观看视频最新| 国产在线视频福利| 久久av国产紧身裤| 国产成人在线看| 欧美日韩国产经典色站一区二区三区 | 国产婷婷97碰碰久久人人蜜臀| 78国产伦精品一区二区三区| 高清免费电影在线观看| 精品国精品国产自在久国产应用| 成人av网站大全| 日韩一区二区三区在线视频| 欧美人与牲动交xxxxbbbb| 免费看a在线观看| 精品一区二区三区在线| 99re热这里只有精品免费视频| 日韩欧美一级特黄在线播放| 国产尤物视频| 日韩精品卡一| 天天综合网91| 中文字幕成人在线观看| 国产一区二区三区在线视频 | 99视频精品免费视频| 日韩一区二区高清| www.91在线播放| jizzjizz中国精品麻豆| 影音先锋亚洲精品| 亚洲国产精品综合小说图片区| 久久福利网址导航| 最新国产在线视频| 欧美1区二区| 超碰aⅴ人人做人人爽欧美| 视频在线一区| 国产不卡视频一区| 日韩欧美国产系列| 青娱乐在线视频观看| 一个人www视频在线免费观看| 91久久在线| 欧美日韩亚洲一区二| 5566成人精品视频免费| 在线免费看黄网站| 国产二区精品| 亚洲综合网站在线观看| 久久久久久久久久久免费精品| 国产区av在线| 日韩中字在线| 亚洲欧美激情小说另类| 欧美国产第一页| 都市激情在线视频| 日韩精品影视| 一区二区三区小说| 7m第一福利500精品视频| 在线播放麻豆| 午夜精品久久99蜜桃的功能介绍| 亚洲午夜在线观看视频在线| 国模私拍一区二区三区| 欧美jizzhd欧美| 极品中文字幕一区| 日韩欧美综合在线视频| 欧美成人禁片在线www| 韩日毛片在线观看| 日韩1区2区3区| 91 com成人网| 午夜色香蕉导航| 日本美女久久| 国产福利不卡视频| 日韩精品在线免费观看视频| 伊人发布在线| 精品一区免费| 亚洲精品乱码久久久久久久久| 国内精品小视频| 污污的网站在线免费观看| 毛片一区二区| 欧美一区二区不卡视频| 97视频在线| 精品国产午夜肉伦伦影院| 日本一区二区不卡视频| 欧美日韩福利电影| 成人欧美在线| 翔田千里一区二区| 日韩精品专区在线影院观看| 四虎永久在线高清国产精品| 五月天亚洲色图| 亚洲人成网站色在线观看| free性欧洲69| 丁香六月综合| 懂色av噜噜一区二区三区av| 一区二区亚洲欧洲国产日韩| 嫩草精品影院| 激情久久婷婷| 欧美美女激情18p| 成人免费看黄网址| 人体久久天天| 一区二区三区日本| 亚洲视频中文字幕| 夜夜嗨av一区二区三区四区| 台湾av在线二三区观看| 亚洲一级淫片| 欧美视频在线不卡| 日本wwwwwwwzzzzz视频| 九九热线有精品视频99| 亚洲成在人线免费| 国产视频高清免费| 成人日韩视频| 国产精品日日摸夜夜摸av| 2019av中文字幕| 成人小电影网站| 成人美女视频在线观看| 中文字幕成人精品久久不卡| 午夜不卡视频| 久久久久久色| 亚洲国产天堂久久综合| 天堂√在线中文官网在线| 伊人成人在线视频| 日韩一卡二卡三卡国产欧美| 欧美aaa一级片| 亚洲91视频| 69精品人人人人| 在线免费观看色| 一区在线视频观看| 精品国产免费久久| 你懂得在线网址| 天堂资源在线中文精品| 亚洲老头同性xxxxx| 天堂资源在线中文| 美女脱光内衣内裤视频久久网站| 国产一区二区三区视频| av官网在线播放| 国产在线不卡一区| 欧美成人在线免费视频| 精精国产xxxx视频在线播放| 成人高清免费观看| 国内外成人免费激情在线视频 | 国产乱色国产精品免费视频| 久久中文久久字幕| 欧美男男tv网站在线播放| 99国产精品久久久久| 91精品国产成人| 色综合久久久| 一区二区三区四区蜜桃| 操操操com| 久久在线视频| 欧美草草影院在线视频| 国产午夜在线观看| 久久99日本精品| 美日韩精品视频免费看| 成人性生交大片免费网站| 国产欧美精品日韩区二区麻豆天美| 午夜国产福利| 欧美自拍视频| 欧美性高清videossexo| 真不卡电影网| 日韩在线a电影| 精品国产美女在线| 欧洲av不卡| 亚洲欧美国产高清| 3p乱日视频| 欧美日韩免费| 精品亚洲aⅴ在线观看| 人人超在线公开视频| 91麻豆产精品久久久久久| 人xxxx性xxxxx欧美| 日韩av网址大全| 欧美日韩黄色影视| 免费在线一级视频| 国产伦精品一区二区三区视频青涩| 久久久久久久一区二区| 亚洲精品一区二区在线播放∴| 亚洲国产另类精品专区| 免费av片风间由美在线| 免费看的黄色欧美网站| 久久精品国产久精国产思思| 日本另类视频| 亚洲成人av在线电影| 黄色av地址| 视频一区二区中文字幕| 久久久久久成人精品| 高清一区二区中文字幕| 欧美日韩中文字幕在线| 在线免费国产| 国产一区在线精品| 四虎免费视频| re久久精品视频| 亚洲国产精品视频在线观看| 青草视频在线免费直播| 国产亚洲欧美日韩在线一区| 污污视频网站| 亚洲视频免费| 日韩在线观看免费| 日韩黄色三级| 色综合久久66| 国产在线日本| 91日韩精品一区| 色网在线播放| 亚洲午夜一区| 久久久91精品| 日韩精品一级| 在线免费不卡视频| av在线二区| 国产亚洲美州欧州综合国| 成全在线观看免费完整动漫| 亚洲黄色在线| 欧美大片免费观看| 大香伊人久久精品一区二区| 91精品欧美综合在线观看最新 | 国内精品久久影院| 美女福利一区| 日韩精品一区在线| hd国产人妖ts另类视频| 亚洲少妇最新在线视频| 又黄又www| 国产精品18久久久久| 国产精品一区二区资源| 欧美在线免费| 久热精品在线视频| 国产精品毛片久久久| 精品奇米国产一区二区三区| 超碰中文在线| 一区二区三区不卡视频在线观看| 国产精品666| 国产一区日韩二区欧美三区| 国产一级片儿| 悠悠资源网久久精品| 国模精品一区二区三区色天香| 国产成人精品免费视| 国产亚洲精品va在线观看| 色诱色偷偷久久综合| 69堂成人精品免费视频|