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In the Media

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In the Media

Shenzhen Economic Daily: SUSTech Successfully Incubates Eight High-tech Enterprises

Jul 6, 2016 SUSTC in the Media

Yesterday, reporters learned from SUSTech that this university had successfully incubated and established eight high-tech enterprises by inspiring its faculty members to engage in entrepreneurship. This year, SUSTech is also preparing to establish 10 other companies. Based on the innovative and entrepreneurial environment of Shenzhen, SUSTech actively promotes the transformation of scientific and technological achievements. It has set up related systems to encourage its teachers and students to start businesses, establishing a “high-speed channel” between scientific research and industry.

It is estimated that Direct Genomics has a market value of over one billion yuan.   

Among the eight high-tech companies, Direct Genomics, founded in 2012 by SUSTech Associate Prof. He Jiankui in Shenzhen, mainly researches and develops third-generation sequencing technologies. After several rounds of financing, the company’s market valuation is over RMB one billion with more than 50 employees.

Last October, Direct Genomics announced the prototype of GenoCare analyzer, the third-generation single molecule sequencer designed specifically for clinical use. The device can directly read patients’ most original sequence of DNA or RNA molecules. With world leading technologies, it greatly reduces the cost, yet improves the speed and quality of clinical genome sequencing. Stephen Quake, Member of National Academy of Sciences (NAS), Professor of biological engineering and applied physics at Stanford University and well-known biotechnology entrepreneur, said, “Direct Genomics is addressing the core issues facing the global clinical genome sequencing: quality, cost and labor. To this end, Direct Genomics has come up with an innovative and ingenious engineering design to promote the single-molecule DNA sequencing technology to a new height.”

As for the application of GenoCare analyzer, numerous medical institutions will gradually enjoy the new device, an achievement of world cutting-edge scientific research. Shenzhen Maternity & Child Healthcare Hospital, Shenzhen People’s Hospital and Southern Medical University have involved in the project. With the new device, clinicians can evaluate the DNA of viruses and tumor molecules circulating in the patients’ blood, choose the corresponding HBV antiviral drugs and find personalized treatments. This year, the project will attract more organizations.

SUSTech faculty can get 70% of the science and technology equity.

Shenzhen SUSTeh Fuel Cell Company was set up by SUSTech and Hong Kong Hybrid Kinetic Group with RMB 120 million as the registered capital.

The team led by Wang Haijang and Li Hui are the company’s core technical supporters. Wang and Li, recently introduced by Sestet, are experts listed into China’s “Thousand Talents Program”. The team was established in Vancouver, the “Silicon Valley” of fuel cell, with the world’s most advanced fuel cell technology. As the key technology of fuel cell vehicles, the fuel cell stack will fill the gaps in the commercialization of fuel cell stack technology and help Shenzhen establish its hydrogen and fuel cell industry chain, leading Shenzhen to enter the hydrogen economy.       

On May 21, 2015, SUSTech introduced “The Interim Measures of SUSTech on Entrepreneurship Management (Trial)” (hereinafter referred to as “Interim Measures”) to comprehensively promote the transformation and industrialization of scientific and technological achievements. The Interim Measures can encourage the transformation of scientific and technological achievements as well as remove the faculty’s worries about innovation and entrepreneurship.

“To encourage the faculty to innovate and start businesses, the Interim Measures stipulates that faculty members as inventors may hold 70% of the returns on the technological achievements or of technological achievements equity. SUSTech Asset Management Co. Ltd holds shares and exercises the rights of shareholders on behalf of SUSTech, who enjoys only 30% of the equity or the returns on equity.” The relevant staff of SUSTech expressed, “‘Interim Measures’ sets that on behalf of SUSTech, Asset Management Company manages the faculty’s technology companies, in which SUSTech and investors hold relevant proportions of equity. With capital from investors and technology from SUSTech, investors and SUSTech jointly found companies. SUSTech and its faculty shall possess separate technology shares.”

To promote the integration of production and research, on December 23, 2014, SUSTech Asset Management Co., Ltd was formally established as an independent legal entity to manage the asset of SUSTech. The company commits to promoting the transformation of scientific and technological achievements of SUSTech, transferring knowledge and technology, and incubating high-tech enterprises. As a pilot unit of China’s higher education reform, SUSTech actively explores the transformation of scientific and technological achievements. It takes the lead to try various methods, setting an example for higher education institutions to promote the in-depth integration between science & technology and economy.

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