EU biotech companies collaborate with Chinese market
The 'European biotech SME/regions partnering, promotions and networking in China' (EFBIC Yellow) project facilitated cooperation between the EU and China in the area of biotechnology. European biotech small and medium-sized enterprises (SMEs) and regional agencies developed partnerships with emerging Chinese pharmaceutical corporations. Innovations from Europe's biotech sector were disseminated to key actors in the Chinese biotech market. Project partners organised two partnering events in China and two information seminars in Europe. In addition, the consortium created web-based dissemination tools and conducted a series of meetings. A questionnaire-based survey was conducted after each event. These revealed that participants were very satisfied with the content of the information they had received and the quality of networking and its relevance to business. Results from the EFBIC Yellow project were used to expand the initiative by developing a similar self-sustaining programme. As the project's benefits become more tangible, sponsorship can play a more central role. One of the recommendations to emerge from the project was the need for guidelines on cultural differences. The EFBIC Yellow initiative will benefit both China and the EU, enabling them to combine their experience and become more competitive in the growing biotechnology market.
