Current Position: Home page > Year2007  

CSVC Steps Up Involvement in Bionanotechnology

On June 27, the completion of Phase-1 of CSVC-invested BioBay, a locally-financed bionanotech industrial incubation base, marked the initial formation of a complete industrial chain that spans basic research, multinational R&D, outsourced service, to the commercialized development by innovative-type enterprises in SIP.

Since its founding in 2001, China-Singapore Venture Capital (CSVC) has, apart from being a major developer of SIP, become a financing platform for hi-tech industries in SIP.

Currently, CSVC ranks the fifth in China in terms of registered capital and management capital. With powerful support of SIP authorities in taxation, capital and personnel policies, CSVC has invested hugely in building the basic hardware of BioBay, and also built an incubator with hundreds and millions of RMB to assist the growth of small and medium-sized biological enterprises.

Innovative-type enterprises with independent property rights, and SMEs in particular, are given priority in obtaining risk investment capital in SIP, according to GM Lin Xianghong of BioBay. The BioBay Co., Ltd. has a registered capital of 550 million yuan RMB, invested by CSVC, SIP State Assets Holding Co., Ltd., SIP Technology Development Co., Ltd. and SIP Education Development and Investment Co., Ltd.

The act of investment by CSVC in support of innovative enterprises is in complete conformity of international risk investment mode, with industrialization as the ultimate objective.

In the first phase of BioBay, an agreement was signed between Cold Spring Harbor Laboratory of USA (generally known as “sacred place of world’s life science) and SIP Science Park, while some dozen hi-tech bionanotech companies, founded by returned overseas Chinese scientists, entered BioBay one after another. Along with CAS Institute of Nanotechnology and Nanobionics currently under construction, the science park is becoming a world-class R&D and innovation platform of both domestic and international life science.

A main stress in marketing for SIP is the returned overseas scientists, and their  enterprises will make up 80% of those entering the science park.

June 28, 2007

Suzhou Industrial Park Administrative Committee.2004 Copyright. All rights reserved