A night view of Lujiazui in Shanghai's Pudong New Area. [Photo/IC]

Shanghai's Pudong New Area has introduced the "2.0 version" of its Group Open Innovation Center (GOI) plan, marking a new phase in its efforts to elevate corporate innovation.

Launched in 2021, the GOI initiative encourages industry leaders to establish open innovation platforms, fostering collaboration between large companies and SMEs while strengthening Pudong's local innovation ecosystem.

Development highlights

Since its inception, the GOI initiative has driven original, integrated, and open innovation, accrediting 107 GOI centers across 12 countries in Asia, Europe, and America. Covering 13 advanced technology sectors, these centers have facilitated a global exchange of innovative ideas in Pudong.

The initiative has supported the creation of 300,000 square meters of innovation space, over 3,300 tech breakthroughs, 8.6 billion yuan ($1.2 billion) in capital fueling new ventures, and 3.4 billion yuan in commercial collaborations strengthening industry networks since 2021.

More than 750 tech companies have established a presence in Pudong, while 3,300 ecosystem activities have engaged over 30,000 companies, creating a dynamic environment for innovation.

Innovation prospects

This year, major multinationals such as pharmaceutical giants Bayer and Pfizer, and Japan's consumer electronics conglomerate Sony Group have joined the initiative.

Bayer Co.Lab in China has emerged as a key partner in Pudong's ambition to become a global biopharmaceutical innovation hub, benefiting from favorable policies and resources.

Friedemann Janus, global head of Bayer Co.Lab, said the collaboration positions Bayer's platform at the forefront of external innovation and deepens ties with Pudong's biomedicine ecosystem.

Looking ahead, the GOI aims to enable quality upgrades and build a world-class corporate innovation cluster. An official from Pudong's commission of science, technology and economy said GOI 2.0 will leverage system innovation, resource circulation, and ecosystem evolution to create a sustainable "future innovation ecosystem".

The initiative has facilitated agreements between enterprises and innovation centers such as the AI+ Marine Innovation Center and the Cruise Ship Innovation Center.

To optimize research and development and better use resources, several GOIs, including the US health technology company GE Healthcare's Shanghai innovation center, have established platforms for testing, R&D, and commerce, accessible to upstream and downstream enterprises.

To further unlock corporate innovation potential, the commission is collaborating with four innovation centers, including Sony's Shanghai innovation center, to integrate large company competitions into Pudong's innovation and entrepreneurship competition system, opening a new chapter in innovation collaboration.

Source: Official WeChat account of the publicity department of the CPC Pudong New Area committee at "pdnews"