Israel to beef up Guangzhou's biological industry

Seven Israeli bio-pharmaceutical enterprises are expected to open operations in Guangzhou International Bio Island, capital city of South China's Guangdong province, by the end of this year.

In the past two years, increasing numbers of Guangzhou investors have turned to seek opportunities in Israel, ranging from technological innovation to venture capital funds.

Israel is deemed as a hotbed for innovation, second to the Silicon Valley of the United States.

Due to its small domestic market, Israel falls short in terms of abilities to realize the industrialization and commercialization of new high-tech.

Guangzhou and even the Pearl River Delta region have not only a great demand of innovation and high-tech in the course of industry transformation and upgrading, but also a large market for technological applications.

"Our company is looking forward to availing the platform set up by Guangzhou Development District and helps translate some cutting-edge technologies into products through the cooperation with Israel," said Guan Yisheng, vice president of Guangdong Hybribio Biotech Co Ltd.

Hybribio boasts a fully integrated operation chain for in vitro diagnostic assays and has rich experiences with overseas enterprises, Guan added.

Bird's eye view of Guangzhou International Bio Island. [Photo/ southcn.com]

The cooperation between Guangzhou and Israel will woo more Israeli enterprises to invest and set up operations in Guangzhou, said Shuki Gleitman, former director of the Office of the Chief Scientist, which is now known as Israel Innovation Authority.

The 10th China Bio-industry Convention and the First Guangzhou International Biological Forum, highlighting the policies, innovations, technologies and investments of the industry, concluded in Guangzhou on July 5.

Participants attend the 10th China Bio-industry Convention and the First Guangzhou International Biological Forum in Guangzhou, South China's Guangdong province. [Photo by Feng Zhoufeng/oeeee.com]

To facilitate the construction of industrial clusters, the district has proposed beneficiary policies to support innovation, introduce high-end professionals, establish cooperation ties with global institutes and optimize investment environment, according to the local government.

A 10-billion yuan investment fund for Guangzhou's biological medicine and health industries was set up by Guangzhou development District, Guangzhou Science Technology and Innovation Commission and Guangzhou Industrial Investment Fund Management Co Ltd.

"We should not only focus on large enterprises to settle down in Guangzhou, but also offer support to start-ups and small companies with their own proprietary intellectual property rights or technologies," Gleitman noted.

Chinese capital exporting to Israel primarily covers emerging industries, including biological medicine, artificial intelligence, robots, augmented reality and virtual reality, according to a local media report.