Industrial Park Insights | Taicang Biomedical Industrial Park

by | Jun 7, 2021 | Industrial Park Insights

On November 27, 2020, at a signing ceremony in Shaxi, MyBioGate, Jiangsu Industrial Technology Research Institute, Taicang Innovation Investment Development, and Taicang Biomedical Industrial Park officially signed a contract to form the joint venture company TomoWave China.

Dr. Alexander Oraevsky, the founder of Tomowave, focuses on photoacoustic imaging technology. He has won multiple research awards including the International Berthold Leibinger Innovation Award. He has 12 patents and published more than 250 scientific papers. He also has more than 25 years of R&D and industrial experience in the imaging field. He hopes to bring a new generation of technology in China and achieve rapid industrialization. With assistance from MyBioGate, the company landed in Taicang.

At MyBioGate, we take pride in assisting companies who desire to land in China integrate Chinese capital, policy, and clinical resources during the entire development cycle. This cycle begins with the initial stage of establishment to product launch and the final exit IPO or acquisition. In so doing, we accelerate the company’s landing, rapid development, and successful transformation in China.

Taicang Biomedical Industrial Park

Taicang Biomedical Industrial Park is located within the “One-Hour Circle” between Suzhou and Shanghai. How has Taicang managed to attract many outstanding innovative projects to establish offices in its park?

Taicang is under the jurisdiction of Suzhou, Jiangsu Province. It is bordered by the Yangtze River to the east and Shanghai to the south. This gives it a dually advantageous position within the coastal economic belt and the Yangtze River Delta Economic Circle. This region is rated as one of the most dynamic regions in the Yangtze River Delta.

Taicang Biomedical Industrial Park is a landmark construction of Suzhou’s biomedical and healthcare industries, with a planned area of 6k square meters. The park focuses on three major development initiatives of service outsourcing, biopharmaceuticals, and medical devices. It has integrated development and promotion of specialty drugs and high-end medical devices based on a comprehensive medical equipment service outsourcing platform and has won multiple awards.

With its advantageous location, innovative atmosphere, supporting facilities, and policy guidance, Taicang Biomedical Industrial Park provides a full set of support for innovative companies.

Land allotted cultivates innovation

(1) Makerspace: 1,500 square meters of decorated office space and public laboratories
(2) Incubator: 3000 square meters of space (including 30 workstations and 20 small offices) to meet the incubation needs of start-up companies which is expected to open July 2021
(3) R&D enclave: 600 square meters of space in Suzhou Wuzhong Building and support talent to work in different places
(4) Plant carrier: 800,000 square meters of property is available for an R&D building and standard factory building. This land can be rented and sold
(5) Land resources: additional land is planned to be reserved for industrialization projects.

Company focuses

(1) Service outsourcing + drug research and development
(2) Lab equipment + pharmaceutical production
(3) Raw materials (enzymes, consumables, etc.) + in vitro diagnosis
(4) Large animal devices + implantable devices
(5) AI intelligence + imaging devices
(6) Nursing + rehabilitation equipment

Regulatory services

The Shaxi Administrative Approval Center has undertaken 359 approval powers delegated by the city of Taicang to provide companies with full life cycle regulatory services. To improve the approval of project investment and construction to save time for investment and production.

There are also third-party service companies such as industrial and commercial registration, legal finance and taxation, , environmental assessment consulting, talent recruitment, personnel and social insurance, patent services, drug regulatory registration, equipment filing, and others.

Laboratory services

The park has established public laboratories and detailed system solutions for drug research, to perfect device research and development and evaluation. There are also registration services, and patent services either in place or under construction.

Talent chain

(1) Entrepreneurship competition: Participate in the “Win-Win Taicang” Biomedical Innovation and Entrepreneurship Competition, etc. The winning projects will have priority given to entrepreneurial support
(2) Entrepreneurship and entrepreneurship declaration: a comprehensive subsidy of up to RMB 100 million will be given to top talent teams, and up to RMB 9 million in support for entrepreneurial projects.
(3) Settlement service: one-stop service center with a settlement subsidy of up to RMB 3 million, high-end talent salary subsidy of up to RMB 1.2 million, first-year living allowance of up to RMB 50,000, medical insurance, and child education
(4) Science and Innovation Fund: RMB 200 million science and innovation talent cultivation fund
(5) Talent training: With a total investment of 60 million, a biomedical training center of 4000 square meters will be established to cultivate skilled talent in the R&D and production lines for enterprises in the park
(6) Talent recruitment: the third-party recommendation reward for the landing of projects is up to RMB 1 million

Portfolio investment

Social investment (VC/PE), government investment, , industrial investment, and bank loans are all available.

Livable and industrial community

Shaxi, where Taicang Biomedical Industrial Park is located, is also a famous historical and cultural town in China. It has been rated as a national AAAA-level tourist attraction and entered the tentative list of World Cultural Heritage Sites in China.

Taicang’s 50 billion-level biomedical industry cluster is accelerating its rise. This is due to the combined efforts of existing capital and policies, and more importantly, the accumulation of high-end talents. The rapid implementation of Tomowave is a good start, and the future of Taicang Biomedical Industrial Park is promising.