- By lukez
- Posted June 29 , 2020
Strategic cooperation agreement signed between Beyond Lab and Suzhou Industrial Park Investment Promotion Committee
JUNE 24th, 2020, LONDON/SUZHOU – Beyondlaboratory UK Ltd (Beyond Lab) and the Investment Promotion Board of Suzhou Industrial Park Administrative Committee (SIPAC) have today formed a strategic alliance to enhance cooperation in the fields of digital health, biotechnology, cell therapy, nanotechnology and AI.
Beyond Lab is a UK-based medical technology consulting company. Its aims are to build a professional, barrier-free and reliable win-win platform for UK medical technology companies and the Chinese medical industry. The company has long-established expertise in biomedical, biotechnology, pharmaceutical and healthcare in China and the UK and has already established cooperation agreements with a number of well-known medical enterprises around the world.
Widely acknowledged as China’s first industrial park, Suzhou Industrial Park (SIP) has attracted some of the world’s best known and most respected medical, pharmaceutical and financial brands. SIPAC is an investment promotion bureau directly managed by SIP. In April 2019,
the Yangtze River Delta (YRD) Overseas Investment Promotion Centre was added to help increase foreign investment in the region and give locally based enterprises a helping hand in their overseas investment.
It provides one-stop government services such as policy consultation, industrial and commercial registration, filing and approval for all types of investors, follows up significant projects and provides life cycle services for overseas investments. Together, they have already assisted cross-border M&A transactions such as Yawei’s successful acquisition of South Korea’s LIS, an overseas manufacturing plant in Indonesia and an innovation centre in Israel.
By tapping its global client base and leveraging its extensive experience of regional economic cooperation, Beyond Lab will facilitate overseas project introductions, provide professional support to key projects including the 14th Five Year Plan, attract investment and help to encourage the establishment of overseas innovation centres and offshore incubators in SIP.
Beyond Lab will also contribute to the implementation of the Pilot Free Trade Zone in the Suzhou area (Jiangsu) as well as national Chinese strategies such as the “Belt and Road” Initiative, thereby helping to establish SIP as a “go to” destination for innovation and R&D, where industry clusters in advanced manufacturing and services can congregate.
SIPAC will support Beyond Lab in nurturing and developing a related industrial ecosystem within the industrial park and will be responsible for supporting Beyond Lab in enterprise schemes and incubators.
The strategic partnership between Beyond Lab and SIPAC will ensure their full potential and optimise their complementary experience to realise the ultimate goal of co-development and a win-win scenario which will be based on integrated resources and operational cooperation.
Also, at the signing ceremony there were representatives from the “Big Four” accountancy firms such as KPMG, the “Big Five” real estate consultancy associations and investment banks. Beyond Lab will be part of SIP together with these institutions to deepen cooperation with them and promote in-bound and out-bound investment.
Commenting on the agreement, Deputy Director of SIPAC and Director of the YRD Overseas Investment Promotion Centre, Mr Zhang Feng, said: “last year, the addition of the YRD Overseas Investment Promotion Centre brought a new dimension to SIP as it responded proactively to major national development strategies such as the “Belt and Road” and the enhancement of the YRD area. The Centre aims to provide integrated and professional services for outbound expansion of our national enterprises, to explore inward and outward opportunities”.
Mr. Huang Junjie, Chairman of the Global Technology Innovation Think Tank (GTI), added: “I am very pleased to promote the cooperation between Beyond Lab and SIP, to promote the introduction and landing of overseas projects, and to assist in the preparation of offshore incubation centres. Originating from the UK, GTIempowers the YRD's high-quality development and will cooperate with SIP and Beyond Lab to introduce top-level biomedical innovation companies and high-end talents to jointly cultivate a world-class biomedical industry cluster”.
Dr. Zhou Lei, Head of Beyond Lab in Greater China area, said: “Beyond Lab is very happy to have this opportunity to cooperate with SIP. We will devote ourselves to introduce the world's top biomedical enterprises, sophisticated technology and talents to SIP, to create a world-class international service platform together, to help Suzhou enterprises complete the upgrading and docking of international industries, and finally to realise strategic investment and development in overseas markets”.
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