BEIJING, Aug. 10, 2018 /PRNewswire/ — With the expansion of healthcare reform and the increase in consumption, China’s medical health services have guided multi-dimensional innovation and advancement. It is estimated that by 2030, the scale of China’s health service industry will reach 16 trillion. The health & wellness market has called for cross-regional modernization and accelerated expansion of the industry circle.
On June 27, 2018, representatives from more than a dozen well-known health & wellness corporations, medical institutions, hospitals, VC and start-up companies around the world gathered in Shanghai to participate in the 2018 Plug and Play China Summer Summit – Sino-U.S. Health & Wellness Summit. It was hosted jointly by Plug and Play with Deloitte China and Fosun Technology Innovation Center to discuss the frontiers of investment and technological innovation in the healthcare industry. The summit also received support from the Shanghai Biomedicine Technology Industry Promotion Center and Shanghai Pudong International Chamber of Commerce.
A group full of talents
Dozens of “superstars” in the health & wellness industry gathered at the Sino-US Health & Wellness Summit, including:
- Deloitte China
- Fosun Pharma
- Philips Healthcare Innovation Centre
- Johnson & Johnson China
- Medlmmune
- Green Leaf Group
- Pfizer
- Shanghai Second Military Region University
- Changzheng Hospital
- Yueyin Capital
- 3E Bioventures Capital
- SBCVC
- K2VC
- Feifan Capital
- Fudan University
- Xi’an Jiaotong-Liverpool University
- Shanghai Huangpu District Government
- Shanghai Center of Biomedicine Development
- United Nations Industrial Development Organization (Shanghai)
- Shanghai Pudong International Chamber of Commerce.
As seen by many industry leaders, Plug and Play China kicked off the Health & Wellness summit opening ceremony by formally announcing the introduction of original businesses in the health & wellness verticals of China and further expanding upon its innovative eco-environment layout.
Peter Xu, president and managing partner of Plug and Play China, stated, “China’s economic development, aging status, and government’s promotion all provide developmental soil for the healthcare industry. Many companies from overseas want to enter China, and domestic health care companies are actively seeking targets for overseas import, investment, mergers and acquisitions. Plug and Play have been deeply involved in Silicon Valley for so many years that they have a precise understanding of healthcare technology. It is the right time for us to build such a bridge connecting China and the world.”
According to Julia Belaya, Director of Health and Wellness at Plug and Play Silicon Valley, Plug and Play’s global healthcare innovation platform was established in 2016. After only two years of development, it has entered partnerships with more than 20 well-known health & wellness companies worldwide. In 2017, Plug and Play invested in more than 30 health and medical technology innovation projects. Presently, the Health & Wellness vertical has come to China to help industry-related companies around the world to succeed in China. Rahim Amidi, CEO and founder of PNP, and Dr. Xiaochun Chen, PNP China Co-founder, also attended the summit.
“Deloitte China has been in close collaboration with Plug and Play for a long time. We believe that by combining the experience and insights of both parties, it can help set a new trend for the industry and the direction of innovation development, as well as to build connections amongst large companies and start-ups that contribute to a revolutionary innovative ecosystem.” Yu Chao, the managing partner of Deloitte China Life Sciences and Medical Industry Management Consulting, also attended the event and discussed the “application of artificial intelligence in health & wellness fields.” The keynote speech pointed out that “the development of artificial intelligence is gradually infiltrating into products and services in various industries, but data and application have become the bottleneck of current AI development, and the maturity of the underlying technology still needs huge improvement.”
Shen Yun, Assistant President of Fosun and Executive Director of Fosun Technology Innovation Center, said at the summit, “Fosun is committed to promoting the application of advanced science and technology for the health, happiness and prosperity in families around the world, while providing solutions for the satisfaction of families. In the near future, combining Fosun’s industrial connections and the global science and technology acceleration platform of Plug and Play. Fosun Technology Innovation Center will strategically cooperate with Plug and Play, especially in the field of health.” Xu Zhe, Vice President and General Manager of Strategy Department of Fosun Health Holdings, also attended the event and shared thoughts on the theme of “Fosun Medical Health Investment”.
In the future, Plug and Play China will cooperate with Deloitte China and Fosun Technology Innovation Center to boost the development of China’s health industry. Plug and Play China continues to connect corporates and startups from different industries as a leading accelerator for unicorns.
Plug and Play China: Embracing Open Innovation
The health & wellness industry is a microcosm of the current state of innovation in China. With the development of digital advancements and the integration of cutting-edge technologies such as artificial intelligence, Internet of Things, big data, blockchain, and traditional industries has broadened significantly. Moreover, the definition of boundaries in the industries are changing; more and more cross-border innovations are taking place. Plug and Play China is committed to accelerating this type of innovation.
Plug and Play puts forward the concept of “Innovation, Entrepreneurship and Venture”. In other words, the “Innovation” of large enterprises, the “Entrepreneurship” of entrepreneurial teams and the “Venture” of capital, which together form a solid “triangle” of a virtuous innovative ecosystem. At Plug and Play, cross-industry and cross-field enterprises are matched based on actual application scenarios and technical needs. The entrepreneurial teams can also directly interact with CEOs and CTOs of corporations in depth and simultaneously explore the possibility of technology landing in the unique Unicorn Accelerator.
Based on this “triangulation law,” Plug and Play is committed to maximizing the value in innovation and promoting the revolution and advancement of the industry. Just like Peter Xu said, “Ecology boosts innovation; innovation beautifies ecology.”
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