The 5th ShanghaiTech Innovation & Entrepreneurship Summit concludes

ON2023-05-05TAG: ShanghaiTech UniversityCATEGORY: Global

The Awards Ceremony of the 5th ShanghaiTech Innovation & Entrepreneurship Summit (techIES) was held in the Conference Center on April 26, marking an official conclusion of the summit. The university leadership and distinguished guests from the government and other organizations attended the Ceremony.


Winners of the First Prize


The most prominent feature of the 5th techIES is the cross-regional, cross-institutional and cross-disciplinary integration of projects. The event includes three domestic innovation sessions (Physical Science Session, Information Science Session, and Life Science Session), a domestic science popularization session, and an international session on biomed which was held for the first time. In total, 79 projects from 32 institutions in seven countries joined the techIES this year. Notably, the first international session on biomed attracted 13 projects from six countries, expanding the global cooperation network of ShanghaiTech for tech transfer.


After awards were presented to the winning teams, patent licensing and financing signing ceremonies showcased the tech transfer achievements of ShanghaiTech. The first Yang Xiong Science and Technology Entrepreneurship Award was also conferred during the event. Professor Yu Jingyi of School of Information Science and Technology (SIST), ShanghaiTech alumnus Wang Yi, and Distinguished Adjunct Professor Jiang Biao won the awards.


First-time special awards for science and technology entrepreneurship

The establishment and presentation of the first Yang Xiong Science and Technology Entrepreneurship Award is the highlight of the 5th techIES. It includes three categories of awards: the Education Award (for one faculty member who has made outstanding contributions to cultivating innovative talents), the Future Award (for one student whose project has won a techIES prize and investment from VC) and the Elite Award (for one faculty member or student who has succeeded in university tech transfer with economic and social benefits).


President Jiang Mianheng delivered a speech at the Yang Xiong Science and Technology Entrepreneurship Award Ceremony. He congratulated the three winners and reflected on the significant contributions of Yang Xiong (late Mayor of Shanghai and Chairman of the 2nd ShanghaiTech Governing Board) to the founding and development of the university. This Award is to commemorate Yang’s dedication to ShanghaiTech and follow in his footsteps by nurturing more promising innovators in the future.


Winners of the Yang Xiong Award: Jiang Biao, Wang Yi, Yu Jingyi (from left to right)


Serving the Shanghai Science and Technology Innovation Center


Since its founding, ShanghaiTech has produced high-value patent portfolios in strategic emerging industries such as artificial intelligence, new materials, new energy, and biomedicine, and has achieved successful tech transfer through high-quality patent licensing. The techIES has played a significant role in these achievements. Over the past five summits, patent licensing contracts worth a total of 7 billion CNY have been signed with a patent transfer rate of 25%. Furthermore, 41% of the award-winning projects at techIES have turned into startups, resulting in 36 spinoffs. In the past three years, early-stage startup financing has exceeded 1.1 billion CNY, with a post-investment valuation of over 5 billion CNY.


Wang Jie, Director of the Office of Tech Transfer, said that with the joint efforts of university leaders, faculty, students and external stakeholders, the techIES has served more than 2,000 faculty and students from 64 universities and institutes in six cities of China, and promoted the tech transfer of Shanghai Science and Technology Innovation Center. ShanghaiTech has now formed a distinctive and sustainable development ecosystem that integrates higher education, scientific research and tech transfer.


The total value of patent licensing contracts signed at the summit exceeded 170 million CNY, and they encompassed a variety of fields such as digital solutions for construction and innovative drug development. Representatives from Anban Tech (who received financing of over 100 million CNY), Orient Securities, Junci Investment, Silicon Harbour Capital and Zhongnan Capital participated in the financing signing ceremony. The founder of Anban Tech, Wang Yi, obtained his Master’s Degree at ShanghaiTech in 2019 and won first prizes at the 1st and 3rd techIES. More and more original technologies and spinoffs from ShanghaiTech are gaining recognition from venture capitalists and industrial sectors.


The total value of patent licensing contracts signed at the summit exceeded 170 million CNY


Group photo of Anban Tech (middle) and investors


Building a platform for entrepreneurial education and tech transfer


The techIES has become a non-profit and market-oriented platform for entrepreneurial education and tech transfer, a mutual-learning platform for university faculty, students and investors, as well as a win-win platform for universities, venture capitalists and industrial sectors.


In order to improve the innovative and entrepreneurial mindset of faculty and students, the Startup School was established in May 2020. It has held 76 lectures and roadshows, with 92% of the speakers being VC investors, corporate executives and patent lawyers. This education model featuring practical experience is becoming a valuable example to universities at home and abroad.


Tao Yu, the 1st Prize winner of the Physical Science Session, said, “I’d like to thank ShanghaiTech for providing this great platform. It’s an honor for my team to be recognized by investors and corporate executives. Through this summit, I have gained new understanding of technological innovation and will work hard to make more achievements.”


The 5th techIES once again set up a science popularization session. Nearly 140 faculty and students from ShanghaiTech University, high schools in Shanghai, partner universities and hospitals, and other science enthusiasts, submitted 78 projects. After evaluation by invited experts, high school teachers, and professors in various disciplines, 30 projects stood out to win the Gold, Silver, Bronze Star Awards, and Outstanding Work Awards.


Winners of the Science Popularization Gold Star Award


Based in the innovation hub of Zhangjiang, ShanghaiTech has completed its first 10-year mission of tech transfer: to boost the integration of research, education and industry, train innovative and entrepreneurial talents, and incubate scientific innovation startups. Entering its second decade, ShanghaiTech will strive to build a broader innovation and entrepreneurship ecosystem, facilitate the rapid progress of Shanghai’s innovation industry, and serve the national economic and social development strategy.