Beijing to build Asias largest bio-tech incubator

BEIJING, May 29 (Xinhua) -- Work began on Asia's largest bio-technology incubator in the west of Beijing on Monday.

 

China Bio-tech Research Center proposed by the Ministry of Science and Technology is a 250,000-square meter building with lab and office space for at least 500 research groups and about 100 intermediaries.

 

The building will include offices for representatives from government departments who will provide administrative support for bio-tech start-ups, research entities, incubators and branches from financial institutes and offices of global venture capitals.

 

Wang Hongguang, director of the China Center for Bio-technology Development which is under the ministry, said, "We're going to provide a world-leading platform for bio-technological research and development, which can be used by hi-tech start-ups and even individual researchers."

 

Statistics show that more than 40 percent of senior-level biologists are working in the Great Beijing Area for some 40 percent of China's total national biological research programs. Another 40 percent of public funds for biological research are channeled annually to research academies based in Beijing.

 

Owing to a shortage of high-quality incubators, however, many innovative technologies developed in Beijing have been commercialized in other cities.

 

"We try to streamline the value chain from the powerful R&D capability to business profits," Wang said.