Swiss innovation parks cooperating with China
04 June 2021 10:55
Plans have been drawn up for innovation parks in Switzerland and China to cooperate in future. The relevant Memorandum of Understanding has been signed by Switzerland Innovation and the Torch Center of the Ministry of Science and Technology of the People’s Republic of China, details of which can be found in a press release.
The Torch Center is the Chinese counterpart of Switzerland Innovation, helping to coordinate around 170 “High-Tech Development Zones” across the country. These are innovation parks designed to attract high-tech companies and capital in addition to establishing innovation networks.
The overarching aim of the collaboration is to promote exchanges between the innovation parks in Switzerland and China. According to Switzerland Innovation, some of the high-tech Chinese firms will also set up subsidiaries in Switzerland, where they will then have the opportunity to drive forward innovation projects together with Swiss universities and companies. At the same time, the collaboration will also open up new opportunities for Swiss firms seeking to establish a presence in the Chinese market.
“Due to the Memorandum of Understanding with Torch, we expect additional research investment in Switzerland to be triggered by joint projects between Swiss universities and high-tech Chinese firms. This will serve to further strengthen the innovation location of Switzerland”, comments Raymond Cron, CEO of Switzerland Innovation, in the press release.
Due to the coronavirus pandemic, the agreement was signed during a digital ceremony. According to Switzerland Innovation, concrete implementation steps were also agreed.
According to the information in the press release, this agreement was drawn up in accordance with the China Strategy for the period between 2021 and 2024 drawn up by the Swiss Federal Council. At present, China is regarded as Switzerland’s third most important trading partner. The press release states that the Swiss Federal Council is committed to ensuring that Swiss companies are in a position to operate in China with safe and fair framework conditions in place.