Hefei Venture Capital Successfully Hosts Its First Forum on Scientific and Technological Achievements Transformation Under the Theme of 'Innovative Productivity'
On June 16, 2023, the “Innovation Productivity – Zhongguancun Science City Innovation Partner Conference & The First Hetang Venture Capital Forum on Transformation of Scientific and Technological Achievements,” co-hosted by Hetang Venture Capital and Zhongguancun Science City Company, was successfully held at the Conference Center of Zhongguancun Demonstration Zone!
Hétáng Venture Capital was restructured and established in 2014 against the strategic backdrop of promoting the commercialization of scientific and technological achievements at Tsinghua University. It is a professional investment management firm primarily focused on early-stage investments in technology-driven innovative enterprises.AsAs one of the first investment institutions in China to systematically lay out the transformation of scientific and technological achievements, Hetang Venture Capital has invested in more than 70 innovative enterprises with core technical barriers and high growth potential after nine years of exploration and practice, and has incubated about 30 high-quality scientific and technological achievement transformation projects from universities such as Tsinghua University and clinical experts. The investment covers three major fields: technology manufacturing, medical devices, and biomedicine, among which more than half of the projects are domestic or even global pioneering technologies or "industry firsts"., having witnessed the growth of China's hard-tech industry.
Currently, China’s domestic hard-tech industry is experiencing explosive growth. Significant progress has been made in both the gradual completion and maturation of the industrial ecosystem and in the R&D of original technologies as well as the overseas licensing of key products. Since its establishment in 2014, Hetang Venture Capital has pursued a differentiated investment strategy, characterized by its focus on “investment in the commercialization of scientific and technological achievements.” It contributes to identifying original innovative technologies in China, supporting scientists and entrepreneurs in bringing their innovations to market, and facilitating the “zero-to-one” commercial transformation.
Guided by the Administrative Committee of Zhongguancun Science City, and co-hosted by Zhongguancun Science City Company and Hetang Venture Capital, this forum has received strong support from Tsinghua University, the Chinese Academy of Sciences, the People’s Government of Haidian District in Beijing, partner investment institutions, portfolio companies, industrial parks, and other strategic partners.Centered on the theme of “Innovation-Driven Productivity,” the forum brought together three key stakeholders: the “research community,” represented by leading scientists; the “capital community,” represented by prominent investment institutions and government-guided funds; and the “industry community,” represented by innovative enterprises in hard-tech sectors and industrial parks. Through nearly ten keynote presentations and high-level dialogues, participants discussed frontier hotspots in technological innovation and the translation of scientific achievements into practical applications, outlined future trends, and offered recommendations to improve China’s system for translating scientific and technological achievements.
Jin Qinjian, Dean of the Beijing Tsinghua Industrial Development Institute
Dean Jin Qinxian Delivered the Opening Address for the Forum:Under the new development paradigm, how to achieve deep integration between the innovation system and related industrial systems has become a critical bottleneck that China urgently needs to overcome. Borrowing from Bill Gates, the answer to harnessing the power of science and innovation to further accelerate development lies in universal participation. This requires not only the government to provide fertile ground and a favorable environment for startups but also, more importantly, the active involvement of professional investment institutions. Technology-focused and specialized venture capital serves as the essential link and driving force for the next round of economic development, as technology requires the impetus from investment firms to be transformed into productive forces.
Lin Hang, Deputy District Mayor of Haidian District People's Government, Beijing
Deputy District Mayor Lin Hang delivered the opening remarks for the forum:Haidian District accounts for more than one-third of Beijing’s national high-tech enterprises, Beijing’s “Specialized, Refined, Differential, and Innovative” (SRDI) small and medium-sized enterprises, and national-level SRDI “Little Giant” enterprises. With the continuous improvement of institutional mechanisms, Haidian District is committed to collaborating with universities and research institutes to support the development of Beijing as a global science and technology innovation hub. It also looks forward to Hetang Venture Capital continuing to leverage the abundant resources of Tsinghua University and other academic and research institutions to facilitate the commercialization and implementation of more major scientific and technological achievements in Zhongguancun Science City.
Suzhou ViVest Medical Technology Co., Ltd., a portfolio company of Hetang Venture Capital, is a leading manufacturer of domestically produced automated external defibrillators (AEDs). At the forum, Zheng Jie, General Manager of ViVest, unveiled the company’s latest AED product and donated two units to the Haidian District Red Cross Society. Zhang Yuguang, Party Secretary of the Haidian District Red Cross Society, accepted the donation, while Lin Hang, Deputy District Mayor of Haidian District, and Yang Hongru, Chairman of Hetang Venture Capital, witnessed the ceremony.
Luo Yi, Academician of the Chinese Academy of Engineering; Professor, Department of Electronic Engineering, Tsinghua University
"Optoelectronic Devices and Artificial Intelligence"
Optoelectronic devices, which facilitate electro-optical and opto-electrical conversion, are widely used in fields such as fiber-optic communications, wireless communications, lighting, and national defense. As the infrastructure for information transmission, fiber-optic communications have played a crucial role in the rapid development of the internet and data centers. In terms of chips and innovative technologies for fiber-optic communications, Tsinghua University has made significant contributions and holds a leading position internationally; examples include modifying the energy projection distribution of LED light using three-dimensional freeform optical surfaces. In recent years, the integration of artificial intelligence with optoelectronic devices has also driven the advancement and intelligent transformation of the optoelectronics industry, presenting tremendous opportunities for the development of China’s optoelectronics sector.
Wang Yan, Dean of the Institute of Technology Transfer, Tsinghua University
"Open Collaboration, Co-Creation and Win-Win: Tsinghua University's Practice in Technology Transfer"
Over the past seven years, Tsinghua University has achieved remarkable progress in technology transfer, with thousands of patented technologies licensed or assigned across multiple research fields, including biomedicine, optoelectronics, energy, and artificial intelligence. The university emphasizes collaborative efforts along the innovation chain, building a comprehensive ecosystem for technology transfer and innovation, while strengthening the cultivation, promotion, and coordinated development of research outcomes. Looking ahead, Tsinghua University will continue to commit to high-quality patent innovation and the commercialization of research achievements, making greater contributions to the development of the nation, society, and the university itself.
Zhang Shanliang, Managing Director of Hetang Venture Capital
"The 'Golden Age' of Sci-Tech Innovation Investment: The Practice of Hetang Venture Capital"
China is currently in the “golden age” of technological innovation investment, with the Chinese government placing increasing emphasis on sci-tech innovation. Hetang Venture Capital has emerged as one of the pioneers, investing in numerous representative technological innovation projects, more than two-thirds of which have achieved a dominant position in their respective niche markets. By providing continuous empowerment and value-added services, Hetang Venture Capital helps innovative enterprises grow and thrive within the ecosystem. The firm emphasizes asset management and strategic planning, striving to systematize and scale the commercialization of scientific and technological achievements, and will continue to explore and advance along this path in the future.
Liu Jianjun, Professor at the School of Finance and Statistics, Hunan University; Chief Expert at the Private Equity Research Institute, Tsinghua University; Distinguished Professor at the Capital Market College, China Securities Regulatory Commission
“Five Shifts Needed for High-Quality Development of Venture Capital in the New Phase”
In the new phase, to achieve high-quality development in the new venture capital sector, five key transformations must be realized: first, shifting from a fervent pursuit of pre-IPO projects to focusing on the discovery of early-stage projects; second, transitioning from a hands-off approach to strengthening post-investment value-added services; third, moving from passive reliance on IPOs to seeking proactive exit strategies; fourth, evolving from the conflation of private equity (PE) and venture capital (VC) toward specialized development; and fifth, transforming the industry from a fragmented, small-scale, weak, and disordered landscape into one characterized by group-based operations, scalability, branding, and standardization. Liu Jianjun highly commended Hetang Venture Capital for its proactive exploration, noting that it has effectively exemplified these five transformations and will play a significant leading role in promoting the high-quality development of the new venture capital sector across China.
Liu Kefeng, General Manager of CAS Capital
“Tech Venture Capital: The Bridge from Lab to Market”
CAS Capital is responsible for the operation and management of the CAS Technology Transfer Fund. The Chinese Academy of Sciences (CAS) possesses an abundance of high-quality achievements in hard tech and green tech. Venture capital serves as a bridge for technological achievements to move from the laboratory to the market, enabling technological innovations to cross the “Valley of Death” and connect all links of the innovation chain. The transfer of technological achievements generally requires four conditions: scientific verifiability, engineering and technical maturity, economic feasibility, and the ability to address market demands. Venture capital needs to build a diversified ecosystem of empowering services to strengthen this bridge and better promote the transfer of technological achievements.
Gu Yechi, General Manager of the Equity Investment Department, China Life Investment & Insurance Asset Management Co., Ltd.
《Investment Practices of Insurance Funds in Supporting Technological Innovation》
In recent years, the scale of insurance funds has continued to grow. Amid a domestic environment of declining interest rates, these funds face risks related to duration mismatch and negative interest rate spreads. To address these challenges, it is necessary to increase the proportion of equity investments within asset portfolios. The importance of technological innovation in the field of equity investment continues to rise, requiring insurance funds to balance returns and risks through techniques such as diversified investment and strategic asset allocation.With over a decade of experience in equity investment, China Life Investment has adjusted its focus according to different stages of economic development. In recent years, its investments in technology sectors such as semiconductors and new energy have yielded favorable returns. Looking ahead, the company will continue to support the real economy and technology enterprises through its subsidiary funds, including the China Life Science and Technology Innovation Fund and the China Life Dual Carbon Fund. It will prioritize the development of domestic independent innovation technologies and pursue collaborative growth with its fund partners.
Zhu Ping, General Manager of Beijing Zhongguancun Science City Innovation Development Co., Ltd.
"Reflections and Practices on Promoting the Transformation of Scientific and Technological Achievements"
Zhongguancun Science City Company is a technology industry investment and service platform established by the Haidian District Committee of the Communist Party of China and the Haidian District People’s Government to support the development of Zhongguancun Science City. Facilitating the commercialization of scientific and technological achievements within the region is a key component of our work. As an investment service institution, we focus on priority industrial sectors and align our operations with regional development strategies. For enterprise growth, the precision of regional industrial policies and the quality of the business environment are equally critical. We aim to leverage professional investment capabilities, diversified services, park space support, policy resources, and market matchmaking to collaborate with stakeholders in fostering healthy corporate growth and creating value in industrial development.
Yu Yang, Director of the Science and Technology Department, Beijing Anzhen Hospital
“Construction of Technological Innovation System and Practice of Achievement Transformation”
Director Yu Yang provided a detailed overview of Anzhen Hospital’s efforts in technological innovation and its practical experience in successfully translating scientific achievements into real-world applications. In its endeavor to build an innovation-driven hospital, Anzhen Hospital has implemented a series of measures and issued relevant documents, including establishing operational systems for innovative development, increasing internal investment in science and technology, and building platforms for technological innovation. For the first time, the hospital has incorporated the translation of scientific achievements into its performance evaluation system to fully motivate staff engagement in innovation and translational activities.
Chen Wenhua, Professor, Department of Electronic Engineering, Tsinghua University
"GaN RF Device Technology and Development Trends"
Professor Chen Wenhua shared the latest technological advancements and future development trends in the field of GaN RF devices. In recent years, GaN has garnered significant attention, primarily due to its distinct advantages in bandgap width, power density, and efficiency. With technological progress, GaN is continuously evolving toward wider bandwidth, higher power density, greater frequency, and improved efficiency, while its application scope is expanding increasingly. China’s 14th Five-Year Plan explicitly lists wide-bandgap semiconductors such as GaN among the forward-looking and strategic national key areas for scientific and technological breakthroughs, ushering the GaN device industry into a golden period of development.
Four roundtable forums, focusing respectively on the biopharmaceutical sector, medical devices sector, technology manufacturing sector, and investment sector, will bring together representatives from renowned fund-of-funds, government guidance funds, and investment institutions, as well as representatives from research institutes and innovative enterprises backed by Hetang Venture Capital and Zhongguancun Science City Investment. Together, they will discuss frontier hotspots in the field of scientific and technological achievement transformation in China and outlook on industry development trends.
“Roundtable Forum 1: Strategic Layout of Innovative Tracks for the Translation of Biopharmaceutical Achievements”
Chen Jian, Chairman of Beijing Huaguan Biotechnology Co., Ltd.
Zhao Xueqiang, General Manager of Huaxia Yingtai (Beijing) Biotechnology Co., Ltd.
Zhang Henghui, General Manager of Beijing Zhenzhi Medical Technology Co., Ltd.
Wang Yaning, General Manager of Suzhou Xinkanghe Biopharmaceutical Technology Co., Ltd.
Zhong Xiancheng, General Manager of Beijing Zhongyin Technology Co., Ltd.
Zhang Wei, General Manager of Beijing Zhidao Biotechnology Co., Ltd.
Key Elements in the Industrial Translation Process “From 1 to 10” for Pharmaceutical R&D Enterprises: Whether new products or discoveries address customers’ critical unmet needs; whether existing production conditions can be implemented without being constrained by supply chain bottlenecks; gradually enhancing teams and resources based on the company’s development stage, while identifying teams with aligned long-term interests; and improving process systems and quality management systems.
“Roundtable Forum II: New Pathways for Medical-Engineering Collaboration in the Translation of Medical Device Achievements”
Zheng Jie, General Manager of Suzhou Vivesun Medical Technology Co., Ltd.
Yu Shunzhou, Chairman of Shenzhen Core Medical Technology Co., Ltd.
He Long, General Manager of Beijing Baizhen Biotechnology Co., Ltd.
Zhang Changyong, Deputy General Manager of Beijing Huaruibao Technology Co., Ltd.
Wang Daifa, Chairman of Danyang Huichuang Medical Equipment Co., Ltd.
Wang Yajie, Deputy General Manager of Beijing LargeV Instrument Co., Ltd.
Ding Ming, Chief Scientist at Beijing Weici Technology Co., Ltd.
In the research and development of innovative medical devices, physicians play the roles of “defining the product” and “evaluating the product.” They articulate product development requirements by summarizing clinical pain points and usage habits, while also establishing evaluation frameworks for clinical protocols. Engineers’ technical implementation must closely align with physicians’ needs; indeed, engineers must acquire a substantial understanding of clinical practice—effectively becoming “half-physicians”—to ensure that the developed innovative devices possess strong market value. During the process of “medical-engineering collaboration,” the role of professional operations teams is also critical, becoming even more significant in the later stages of corporate development. The synergistic drive of physicians, engineers, and operations teams—the “three pillars”—is key to the success of innovative medical device companies.
“Roundtable Forum III: New Perspectives on the Commercialization of Advanced Manufacturing Achievements in the Age of Intelligence”
Xu Huayang, Chairman of Beijing Shihe Technology Co., Ltd.
Liu Yi, Senior Technology Transfer Officer, Institute for Technology Transfer, Tsinghua University
Zong Hua, General Manager of Beijing Juxin Technology Co., Ltd.
Xia Chuanjun, Chairman of Beijing Xiahe Technology Co., Ltd.
Li Liguo, Chairman of Zhili IoT (Hangzhou) Technology Co., Ltd.
Zhang Yanqi, Chairman of Beijing Zhongke FuHai Cryogenic Technology Co., Ltd.
Multiple Factors Influencing the Commercialization of R&D Achievements in the Technology and Manufacturing Sector: Building corporate research teams to drive the commercial progression from technology to products and then to marketable goods; fully leveraging scientists’ technical R&D strengths while simultaneously maximizing the initiative of full-time teams; adopting a customer-centric approach with rational and effective corporate operations to facilitate commercial transformation; and maintaining deep, comprehensive, and timely communication with investors to achieve win-win cooperation.
“Roundtable Forum 4: New Opportunities and Challenges in Investment for the Commercialization of Scientific and Technological Achievements”
Wei Fanjie, Executive General Manager of Beijing Science and Technology Innovation Fund
Pan Ouyangrui, Deputy General Manager of Beijing Zhongguancun Science City Innovation Development Co., Ltd.
Lu Shanshan, Deputy General Manager of Taiping Innovation Investment Management Co., Ltd.
Jiang Mingyue, General Manager of Shoufa Zhan Venture Capital
Xiao Jie, Vice President of S Fund at Shanghai Industrial Shengshi
Zhang Xinrui, Senior Technology Transfer Manager, Institute of Technology Transfer, Tsinghua University
Early-stage scientific and technological innovations with strong sci-tech attributes play a crucial role in shaping future development. Early-stage projects require long-term, patient support, as well as more professional incubation from investment institutions, multi-faceted resource matching, effective team management, and diversified exit mechanisms. This necessitates integrated resource allocation and closed-loop management across the entire market, with collaborative exploration by all stakeholders to continuously seek better breakthroughs and development.