Chongqing International Medical Innovation Center and Cleveland Clinic Forge Powerhouse Alliance to Advance Global Healthcare Innovation

Cleveland Clinic hosts the Global Medical Innovation Summit in the United States every October. Since its inception 15 years ago, the summit has gained worldwide renown for its thought-provoking keynote speeches, one-on-one discussions with prominent CEOs, and identification of disruptive, cutting-edge technologies with commercialization potential. The summit provides an excellent platform for healthcare industry leaders to discuss and develop innovative solutions for healthcare reform. It is no exaggeration to describe it as a feast that fosters interaction among international medical innovators, jointly driving the development of healthcare innovation and enhancing the quality of medical technology.

As China’s technological capabilities continue to advance, the country will organize a Chinese delegation for the roadshow at the Cleveland Clinic Medical Innovation Summit this year. To assemble a top-tier Chinese roadshow delegation, the organizers have launched the “First Bairuike Guojian Cup ‘Direct to Cleveland’ International Healthcare Innovation and Entrepreneurship Competition.” Through comprehensive solicitation and multi-stage selection, outstanding projects will be chosen to form the delegation, thereby fostering international exchange and cooperation in medical technology.

Broad Selection Criteria: Applicants are divided into two categories: the “Growth Group” and the “Incubation Group.” Eligible applicants are non-listed enterprises or projects that align with national industrial policies, primarily engaged in the R&D, manufacturing, production, and services of high-tech medical products, possess independent intellectual property rights free of disputes, operate in a compliant manner, maintain a good social reputation, and have no record of misconduct.

Multi-Tier Selection: The Organizing Committee conducts preliminary screening and online evaluation based on the registration materials submitted by participants. Through progressive elimination in regional competitions, winning enterprises or projects are selected for both the Incubation Track and the Growth Track. Based on the number of advancement slots allocated by the Organizing Committee, outstanding enterprises or projects are chosen to advance to the Grand Finals. Those advancing to the Grand Finals will officially form their teams.

Four Major Regions, Eight Cities: The Western, Eastern, Central, and Southern Regions are hosted in Chongqing, Chengdu, Shanghai, Hangzhou, Wuhan, Fuzhou, Guangzhou, and Changsha, respectively.

Authoritative Review: A diversified panel of experts provides top-tier intellectual support for the competition.

Dr. Michael Levitt | 1993 Nobel Laureate in Chemistry

Tom Sudow | Director of the Center for Innovation, Cleveland Clinic, USA

Professor Mao Xianguang | Deputy Dean of Stanford University Medical Center Teaching Hospital

Professor Hong Mingqi | Vice President, MD Anderson Cancer Center

Professor Huang Ailong | President of Chongqing Medical University

Dr. Zhaolong Gong | Member of the Professional Committee on Clinical Drug Research, China Pharmaceutical Innovation Promotion Association

Li Zhe | Founder of Baichuanghui

Tang Haofu | Chairman, Chuangrui Investment Group

Liu Hui | Deputy Dean, Sinopharm Medical Device Research Institute

Meng Wei | Managing Director, Guojian Capital (Guangzhou)

Li Kechun | Director of the US-China Biopharma Association (USCBA), the Largest Biopharmaceutical Association in the United States; Founder of the New England Chapter

Prof. Sun Dayu | Former Assistant to the President of Huashan Hospital, Shanghai

Dr. Jiang Haochuan | Leading Figure in the Localization of CT Detectors in China

Professor Xueming Zou | Fellow of the American Institute for Medical and Biological Engineering

Li Datao | Founder of VCBeat

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Investment Opportunities: Inviting 100+ top investment institutions across China to provide participating enterprises with resource matchmaking and financing opportunities.

Professional Coaching: Over 100 industry experts are invited to provide “multi-to-one” project coaching for enterprises throughout the entire process.

Enhanced Promotion: Inviting 30+ leading national media outlets in China to provide media communication services for enterprises.

The Organizing Committee of the Chinese Delegation has pooled resources from all sectors, dedicating itself wholeheartedly to the screening, formation, and mentoring of the team. Since May, the initiative has gradually unfolded, and it is currently in a vigorous phase of solicitation. Throughout this enthusiastic July, the committee has been providing prompt feedback and guidance on the continuous influx of medical projects from various sources. By deeply exploring, nurturing, and selecting projects for the delegation’s visit to Cleveland, they aim to accelerate the comprehensive and balanced development of China’s healthcare ecosystem.

(The 1st Baireike Guojian Cup “Direct to Cleveland” International Medical Innovation and Entrepreneurship Competition, national registration in China is still open. Welcome to register:)http://www.cncimic.com/）

Chongqing Medical University, the Chongqing Municipal Science and Technology Bureau, and the People’s Government of Yuzhong District, Chongqing, are jointly building an innovation ecosystem around Chongqing Medical University. The initiative is closely aligned with four key strategic pillars: “One Center” (Chongqing International Medical Innovation Center), “One Cluster” (Medical Services Cluster), “One Chain” (Pharmaceutical Industry Service Chain), and “One Fund” (Medical Innovation Development Fund).

Among them, the Chongqing International Medical Innovation Center is the first platform in China dedicated to the translation and implementation of internationally innovative medical technologies, as well as the first platform in China to systematically support entrepreneurship among chief professors and physicians on the clinical frontline. The center is jointly built and operated by Chongqing Science and Technology Venture Capital Co., Ltd., Baichuanghui International Biotechnology (Wuhan) Co., Ltd., and Shanghai Chuangrui Investment Group. At its opening ceremony on April 10, the center signed initial agreements for 40 projects, including eight overseas innovation projects. It has hosted multiple events, such as matchmaking and exchange sessions between innovative projects and Chongqing Medical University, as well as investment and financing roadshows for innovative projects. The center has engaged a Nobel laureate as an advisor and signed a strategic cooperation agreement with the Cleveland Clinic Innovations. Furthermore, it has reached intentions for collaboration with a number of internationally leading medical institutions and incubators, including Cleveland Clinic Innovations, Cleveland Clinic, Stanford University, Johns Hopkins University, and the Texas Medical Center, to conduct regular academic seminars and project exchanges.

Leveraging its own and its partners’ robust resources, the International Medical Innovation Center targets global hotspots in healthcare innovation, providing the most internationalized and specialized end-to-end services across the entire industry chain, from bench to bedside. It prioritizes cutting-edge medical technologies—such as high-end medical devices, regenerative medicine, and precision medicine—as key development directions, actively attracting international innovative medical projects for translation and implementation in Chongqing, thereby establishing a domestically leading platform for medical translation and industrialization funds.

In October, the Chongqing International Medical Innovation Center assembled a delegation to participate in the roadshow for the Cleveland Global Innovation Challenge. This initiative aims to help more scientists and frontline clinical directors step onto the global stage of innovation, realize their dreams, and transform their ideas and needs into tangible final products.

Li Zhe, General Manager of Chongqing International Medical Innovation Center, Founder of Baichuanghui

Baichuanghui focuses on incubating and investing in innovative medical technologies, placing greater emphasis on project tracks that fill gaps in the domestic market. Over the past two years, it has jointly invested in 18 companies with Bilingxing Venture Capital, which specializes in the healthcare industry, with a total investment amounting to RMB 500 million. The investment scope covers major clinical areas such as biomaterials, cardiovascular, gastrointestinal, and respiratory systems. Among these, six companies have been listed by Medtronic as its global competitors.

Meanwhile, Baichuanghui is more inclined to make forward-looking strategic investments, particularly in the field of medical devices, which is its area of strength. Medical devices constitute an interdisciplinary field; consequently, many traditional pharmaceutical funds are unfamiliar with emerging technologies applied in this sector, such as biomaterials, engineering design, mechatronics, and microfluidic chips. Therefore, a multidisciplinary knowledge background is essential to better assess and manage project risks.

Furthermore, Baichuanghui places significant emphasis on team experience, which is critical to the success of a startup. Currently, the majority of early-stage teams in China are founded by scientists. Compared to teams with corporate backgrounds, these scientist-led teams often possess weaker capabilities in addressing various challenges that arise during subsequent project development, such as formulating corporate strategy and building effective teams. Therefore, Baichuanghui tends to select teams whose members have industrialization experience and complementary skill sets.

As 2019 has already passed its midpoint, looking back evokes deep reflections for Li Zhe, the head of Chongqing International Medical Innovation Center and Baichuanghui. Technological innovation in biomedicine is far from being as straightforward as the internet-based business model innovations that have become prevalent across China. Innovations in medical technology have always been a tough challenge. The shared vision of Chongqing International Medical Innovation Center and Baichuanghui is to build a superior ecosystem for medical entrepreneurship and to serve as the premier partner for the development of medical technological innovation in China. Staying true to the original aspirations of entrepreneurship, we press forward with renewed vigor and determination.

(The 1st Bairuike Guojian Cup "Direct to Cleveland" International Medical Innovation and Entrepreneurship Competition, nationwide registration is now open. Welcome to sign up:)http://www.cncimic.com/）