Summit connects US-China innovation, investment

More than 200 US companies will be selected from more than 600 applicants to participate in this year's US China Innovation and Investment Summit (UCIS) in May, Consul General of China Li Qiangmin announced.

In addition, approximately 150 representatives of technology companies and 200 investors from China will meet with their US counterparts to seek cross-border opportunities across a range of focused industries. Overall, more than 500 people are expected to attend the May 14-15 summit.

"The UCIS 2018 was listed as one of the key programs in the science and technology area for the first US-China Social and Cultural Dialogue (SCD) co-chaired by US Secretary of State Rex Tillerson and Chinese Vice-Premier Liu Yandong," Li said on Friday.

This is the third year that UCIS is being held in Houston. Besides the conference, B2B meetings are being carried out throughout the year through the InnoSTARS program. It evaluates US innovative technologies and brings the winners to China to pitch to individual companies.

In its first year, UCIS helped Chinese and US companies reach more than 40 cooperative agreements. Last year, the agreements exceeded 80.

Chen Hongsheng, consul of science and technology, said that the platform has seen some encouraging results.

"Through UCIS, Cheng Jie, director of Electrophysiology Basic Researchatthe Texas Heart Institute,received an investment to establish an R&D center in China to develop his invention of a defibrillator. Amedical device manufacturing product chain is expected to come out of this project within four years," Chen said.

TriboTex has reached agreements with Beijing Jiaotong University and Chinese Science Academy to develop its nano lubricant technology in China; Drylet is working with a Jiangsu company to process waste water, with the municipal government to be shareholders, according to Chen.

Chen said that the InnoSTARS programs have been popular in China. "The local Chinese governments have given these technologies great attention. Quite a few medical projects are under development," Chen said.

In total, UCIS helped US and Chinese companies to conduct more than a thousand B2B meetings in the past two years.

The consul general said that the platform also helped to bring Chinese investment to Houston. "Jiangsu Industrial and Technology Research Institute has decided to open an incubator in Houston this May. It will focus on healthcare technology and be part of the Innovation Corridor. This project has received strong support from the City of Houston," Li said.

In addition, this year's UCIS will highlight Nanjing as an introduction of its major industries to US companies.

Theconference will focus primarily on six fields: healthcare and biotechnology;information and communicationstechnology;artificial intelligence and virtual reality; renewable energy and new materials; andadvanced manufacturing and environmental technology.

The InnoSTARS Competition Preliminary Stage alsowill be held at the summit. There will be pitch competitions based on different topics.

Judges from both the US and China will give feedback for different innovation proposals. Winners will have the opportunity to travel to China to directly pitch to Chinese companies following the conference.

"The UCIS provides a unique opportunity for US-based technology companies to connect with investors, strategic partners, leading incubators/accelerators and professional service firms from China. It is an excellent platform for companies to leverage significant resources from China to accelerate their growth and expand their market potential," Li said.

mayzhou@chinadailyusa.com