In collaboration with the Wuxi Industrial Innovation Research Institute in East China's Jiangsu province and Huangyan district of Taizhou in East China's Zhejiang province, the Shanghai-based National Innovation Center par Excellence (NICE) has partnered with the University of New South Wales in Australia to establish an industry concept validation fund in Sydney.

This is the center's first overseas concept validation fund and was established to promote the transfer, transformation, and industrialization of scientific and technological achievements in collaboration with industries, universities, and research institutes. Furthermore, the fund supplies technologies and commercialization services for the industrial development of the Yangtze River Delta (YRD) region in China.

The fund aims to boost the commercialization of overseas scientific achievements and accelerate the transition of early-stage technological innovations towards commercialization and industrialization.

The fund will solicit and select early-stage groundbreaking technological achievements from research teams at the University of New South Wales, provide support for these teams to conduct the necessary technical validations, and facilitate the future industrialization of their technological innovations in the YRD region.

During the signing ceremony, the first four concept validation projects receiving support were announced, focusing on areas such as biopharmaceuticals, clean energy, advanced materials, environmental science, and engineering.

This collaborative effort signifies a significant step towards enhancing technological innovation, fostering industry-academia partnerships, and driving economic growth in the YRD region and beyond.