Jiangsu Industrial Technology Research Institute
In 2013, the Jiangsu Industrial Technology Research Institute (JITRI) was founded as a bold new experiment. It is a testbed for a new system of research management designed to prime the pump of industrial innovation and bridge the canyon that can lie between technological discovery and industrial application.
The goal of JITRI is to build a sustainable innovation ecosystem in the Jiangsu Province, linking the innovation resource of both domestic and international academic fields to the demand drivers of the manufacturing industry by building independent research institutes to act as engines of transformational research. These institutes are driven to be responsive to demands from industry, thereby bridging the infamous “Valley of Funding Death” that lies between applied research and commercialization.
By the end of 2019, JITRI had established a total of 52 specialized research institutes in the fields of advanced materials, energy and environmental protection, information technology, advanced manufacturing, and biomedicine, employing around 8,000 R&D personnel. One hundred and fourteen world-class technology project managers and 131 JITRI researchers have been hired, and the JITRI network includes a talent pool of over 1,000 top experts. About 4,500 technologies have been developed, and over 10,000 Jiangsu enterprises have been helped by the growing JITRI ecosystem. Over 700 new startup companies have already emerged from the JITRI testbed. Indeed, one of the key performance indicators for JITRI Institutes is the income that they generate from commercialized technologies and the volume of the cooperative work with industry.
Opportunities with JITRI
- Selected projects will receive up to $7 million direct funds;
- Introduce to early-stage R & D angel fund (tens of millions of angel investment) and help with early stage project valuation for raising fund;
- Guaranteed independence of leadership control in R&D and operation (guaranteed leadership control over 80%);
- Project start-up support: including $42,000 in launch funds, road show arrangements, assistance in local government benefits package applications, and other services to help the project get started;
- Project launch subsidized funds up to $700,000, which will be paid in installments according to the progress of the project;
- Direct equity investments of up to $1.5 million;
- Provide free 3-year R&D office space and up to $300,000 housing purchase subsidies;
- Fundraising support including possibly dozens of top-tier investment institutions, with opportunities to obtain venture capital; and
- Business services providing one-stop entrepreneurial services, such as office space, company registration, CRO + CDMO + CSO professional services, fiscal and taxation services, human resources, salary and social security, brand consulting and marketing promotion.
JITRI is looking for projects in the following areas:
- Biological drugs
- New chemical drugs
- Gene and cell therapy
- New vaccines
- Frontier technologies
- High-end medical equipment