Chinese nonprofit plans to open an innovation centre in the Texas Medical centre.
China U.S. Biotechnology Innovation Center, also known as CUBIC, will serve as a bridge for Chinese companies looking to invest in Houston, and vice versa.
Jiangsu Industrial Technology Research Institute or JITRI, a non-profit group based in the eastern Chinese province of Jiangsu plans to invest $3 million to $4 million a year to fund research and help companies expand their footprint abroad. The proposed China U.S. Biotechnology Innovation centre, also known as CUBIC, will serve as a bridge for Chinese companies looking to invest in Houston, and vice versa.
To commemorate the partnership, JITRI president Qing Liu and city officials from Houston and Suzhou, China plan to sign a memorandum of understanding in support of JITRI’s endeavor. The agreement also aims to foster deeper relations between Houston and China, including future trade missions, joint projects and exchange programs.
“No matter if a Chinese or American company, we should really work together to face the challenges of the future,” JITRI president Qing Liu said. “We need to work together to have a green earth and better life for all human beings.”
JITRI has been working for about a year to establish an innovation centre that would connect Houston and Suzhou, located about 60 miles northwest of Shanghai. Suzhou and Jiangsu province, home to many high-tech companies, have been looking to partner with Houston, which has one of the world’s largest medical districts, Liu said.
JITRI, one of the top industrial technology research centres in China, has 39 research facilities that specialize in IT, biomedicine and nanotechnology, as well as more than 6,000 personnel and a $300 million research and development budget.
The independent nonprofit, which is funded in part by the Jiangsu government, has an innovation centre in Denmark called the Innovation House.
CUBIC in Houston will have a staff of about 10, including two employees from JITRI in China. Participating U.S. startups and companies will be able to work in the centre and collaborate with Chinese investors and manufacturers looking to do business in the U.S.