Working hand in hand with enterprises to commercialize achievements
Working hand in hand with enterprises to commercialize achievements, Baoshan carries out an “investment first and then shares later” project by allocating support funds while focusing on services
“Our newly built production and R&D center covers an area of 2,100 square meters, including three GMP standard clean production workshops and P2 biological laboratories. It successfully passed the stage verification of ISO13485 medical device quality management system and has preliminarily reached the production scale with an annual output value of 300 million yuan!”
As one of the first seven pilot projects of Baoshan’s “investment first and shares later” reform project, Libai Bio, a biomedical enterprise focusing on the research and development and production of non-invasive in vitro diagnostic reagents, recently held its opening ceremony in Shanghai Industrial Park of Robotics in Gucun Town, Baoshan District. Zhu Min, the general manager, cannot hide his excitement when introducing the new factory while showing the guests.
The significance of the model of “investment first, shares later” lies in offering “needed fuel in snowy weather” to science and technology enterprises in time, skillfully combining financial funds with social financing, realizing “government guidance + market relay”, giving full play to limited resources to exert greater effect, and accelerating the commercialization of scientific research achievements. After the inspection by the District Science and Technology Commission and the investigation by experts on the sub-indicators such as technology maturity, product competitiveness, commercialization prospect, investment value and expected results, Libai Bio stood out from nearly 50 projects at home and abroad at the end of last year and became the “1/7” of the first batch of funded projects, and received the first 4 million support funds in February this year.
“The fund is very important for us to build a new R&D center and a high-standard customized factory building, but there is still a gap with the total investment budget of the project. Thanks to the support of Baoshan District Science and Technology Commission and the follow-up service of the technology transfer team, the project construction is ensured to go smoothly.” The technology transfer team mentioned by Zhu Min refers to the special service team set up by Shanghai Baoshan Technology Transfer Co., Ltd. (hereinafter referred to as “Technology Transfer Company”) for Libai Bio.
Technology Transfer Company is a wholly-owned subsidiary of Shanghai Baoshan University Science Park Development Co., Ltd., and is also the main body of market operation in the pilot work of “investment first and shares later”, defined as a “partner in the commercialization of scientific and technological achievements”. After the successful establishment of the project, in the “investment first” stage, the financial funds are allocated to Technology Transfer Company with the support funds for science and technology projects, and then Technology Transfer Company will invest the funds in the target enterprise as a project partner; In the “shares later” stage, when the conversion conditions are met, according to the agreement between Technology Transfer Company and the funded enterprise, the nature of the fund is converted into investment funds, and Technology Transfer Company holds the corresponding equity of the funded enterprise.
As the “Partner in Commercialization of Scientific and Technological Achievements”, Baoshan not only allocates support funds, but also pays more attention to follow-up management services, which means going forward hand in hand with enterprises, making use of professional and resource advantages to match and solve problems for enterprises. According to the relevant person in charge of Shanghai Baoshan Technology Transfer Co., Ltd., plant construction is a key link for Libai Bio to move towards industrialization. After many in-depth exchanges and discussions between the company and China Construction Bank, “China Construction Bank launched a ‘cluster loan’ for the ‘investment first and shares later” project, providing 130 million yuan per year to grant credit to the selected projects. After learning that Libai is still short of construction funds, the team immediately contacted China Construction Bank as a partner to communicate loan matters.”
While the shortage of construction funds was solved smoothly, the site selection also emerged as a problem. Libai has moved its R&D laboratory twice, and the rent in the area was not low and could not be used for production, which made Zhu Min more determined to find a suitable “home” for both R&D and production. The service team of Technology Transfer Company, together with circum-SHU companies, quickly started “site selection” after listening to the requirements for location, rent, transportation and supporting facilities, and managed to help select the enterprises to select Shanghai Industrial Park of Robotics on the outer ring. “Transportation here is convenient, rent is acceptable, and it complies with the EIA standards for biomedicine and is a single building with floor height and load capacity suitable for production. More importantly, the Shanghai Industrial Park of Robotics has a large number of industrial resources and an efficient service team, which is very friendly to the development of start-up companies like ours. So, we started construction without any delay in March this year.” Zhu Min said.
During the construction, a WeChat group of 6 people is always busy. Members include Zhu Min, another person in charge of the enterprise, and four project staff of Technology Transfer Company. “If companies meet problems, they can communicate with us in the WeChat group at any time and discuss solutions together.” According to the main communication person of the Libai Project, Technology Transfer Company has established a five-dimensional project management system, which evaluates its capabilities in five aspects: business, team, compliance, marketing and capital from the project warehousing. At the same time, it improves the five-dimensional attributes of the project based on the shortcomings of the project, and with the help of Baoshan District Science and Technology Commission and Circum-SHU Scientific Park Company, it gathers the efforts of the whole district to help the project develop comprehensively and at a high speed. The enterprise initially had doubts about the application requirements of medical device certificate, so the team of Technology Transfer Company offered support and helped Libai Bio coordinate with the Medical Device Department of Baoshan District Market Supervision Administration, which gave one-on-one guidance on matters related to medical device application.
“As a start-up, we also find personnel recruitment challenging, as we are only familiar with technicians and still need help to put together the teams of market-, finance- and administration-related personnel.” Zhu Min said that with the help of the new media matrix, technology transfer companies have built an integrated enterprise recruitment platform, and have recruited a number of professional talents based on the needs of Libai. “Entering a new stage of development, we will accelerate the conversion of orders into production at the new plant and fill the blank of non-invasive early screening of digestive tract tumors in China as soon as possible.”
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