Originally Posted by: Center for Cardiovascular Innovations (CCI)
In September, the ancient city of Gusu enjoys the fragrance of cinnamon and the cool autumn wind. On the special day of September 18, Suzhou welcomed the Oriental Cardiovascular Innovation Summit, Establishment Conference and Academician Forum of Oriental Innovation Center with its enterprising determination of self-improvement. On the morning of September 18, 2020 at the Establishment Conference of Oriental Innovation Center for Medical Devices, the Oriental Innovation Center was unveiled in Suzhou. At present, China is facing profound changes in the domestic and foreign environment, and the international competition marked by the fight for the leading right of global innovation in the future is becoming increasingly fierce. As President Jinping XI said at the Scientist Seminar held recently, “The world is undergoing profound changes unseen in a century. China’s economic and social development and improvement of people’s livelihood need science and technology solutions more than ever before, and innovation is the primary driving force.” To implement President XI’s requirement on medical care, Oriental Science and Technology Innovation Center of Medical Device Industry (“Oriental Innovation Center”) is thus established. A righteous man will receive extensive help. The Establishment Conference gathered stars and celebrities. The guests of honor made inspiring speeches with determination.
Junbo GE: Embrace, serve and adhere to innovation.
Junbo GE, academician of the Chinese Academy of Sciences and director of the Department of Cardiology, Shanghai Zhongshan Hospital, noted in this speech, “The favorable time, conditions and people for the development of medical innovation have been preliminarily in place. Standing at the new historical starting point of innovation and development, I would like to share my hopes for the Oriental Innovation Center: Firstly, it is hoped that the Center will embrace innovation with an open attitude, gather more innovative elements and resources, build the most open and inclusive innovation platform, and make its own contribution to the cause of medical innovation in China; secondly, it is hoped that the Center will serve innovation with the most pragmatic actions, and find a mode and path to roll out excellent innovative projects from Shanghai and Beijing in Suzhou, and make precise efforts to help the transformation and implementation of more projects and products; lastly, it’s hoped that the Center will stick to innovation with the most tenacious mentality, and that the Center can stay true to its original aspiration and perform well in medical device innovation with the support of governments at all levels, experts and friends as innovation can’t be achieved overnight.”
Zhong LU: Always Deepening Reform and Encouraging Innovation.
Zhong LU, deputy director of the Center for Medical Device Evaluation, National Medical Products Administration, reviewed the medical device evaluation reform in his speech. With the issuance of The State Council’s Opinions on the Reform of the Evaluation and Approval System for Drugs and Medical Devices (Guo Fa No.44) in 2015, China’s medical device evaluation and approval has started the reform of innovation promotion. About 30 teams have been established, active efforts made to study and advance reform measures and fruitful results achieved. For instance, the Center for Medical Device Evaluation, National Medical Products Administration has continuously optimized the evaluation and approval process and enhanced the service efforts, and realized electronic application, evaluation and approval for the first time in the world; the Project Management Department and Clinical Biostatistics Department as well as platforms for 6 categories of qualification approval and consultation have been established; communication with enterprises is conducted before formal application, accurately enhancing the evaluation and approval efficiency; research on regulatory science has been conducted, and new standards, methods and tools have been used continuously. “Reform deepening is always on the way. Let’s work together, encourage and support innovation, promote and protect the public health,” Deputy Director Zhong LU said.
Shiming XU: Build a global aircraft carrier of medical device innovation.
As the executive secretary general of the Oriental Innovation Center, Shiming XU shared the development objectives of the Center in his speech. He said, “This is a world where ‘there will be no future if there is no innovation’. If it wasn’t for the innovation of Professor Youyou TU, millions of malaria patients would have no future; if it wasn’t for the innovation of Physicians Tingdong ZHANG and Zhenyi WANG, the leukemia patients would have no future; if Dr. Forsman didn’t perform the catheter tests on his own body, the balloon, stent and interventional surgery would have no present or future. The medical device industry is a trillion yuan aircraft carrier and innovation is the lighthouse in the distance. The Oriental Innovation Center is aspired to be the wick in the lighthouse to ignite innovation.” As far as working ideas are concerned, Shiming XU revealed that the Oriental Innovation Center would uphold the banner of medical and engineering cooperation high, and empower the innovation of medical devices from three aspects: building a big data platform for the innovation of medical devices to provide a steady stream of vitality for innovation and research; establishing the medical engineering geek community to offer a spiritual home for ideological exchange for innovation geeks; and forming an industry community to unite all the forces that can be united, and make the medical device industry bigger, stronger and better. Finally, Shiming XU added with confidence, “With the good expectations of many academicians, experts and industry elites, and unremitting efforts after 5 to 10 years, we hope to build many local counterpart brands of Boston Scientific, Medtronic, Johnson & Johnson; we also hope to cultivate Chinese counterpart giants of Edison, Jobs and Maske in device innovation, establish several 100 billion yuan medical device industry clusters, and build a global ‘aircraft carrier’ of medical device innovation.”
Qingwen WU: Create an industry ecosystem for the innovation of medical devices.
Qingwen WU, member of the Standing Committee of CPC Suzhou Municipal Committee and secretary of the Party Working Committee of Suzhou Industrial Park, revealed in his speech, “It’s September 18 today. It’s a special day that reminds us to remember the shame and calamity of the state and make self-improvement if we don’t want to suffer beating for backwardness. The four-orientation requirements President XI put forward at the Scientist Seminar on September 11 have charted the course for promoting innovation-driven development and accelerated the pace of scientific and technological innovation, namely, oriented toward the world’s forefront of science and technology, the main economic battlefields, the major needs of the country, and the lives and health of the people.” As a famous historical and cultural city, Suzhou is not only a modern industrial capital with a solid foundation, but also the largest manufacturing city in the world. Suzhou Industrial Park is not only an administrative zone, development zone, high-tech development zone and free trade zone, but also an international and legal model area with the most marketized operations. It’s committed to building the world’s biomedicine industry landmark. Furthermore, Suzhou is a green, ecological and longevity city, as evidenced by an average life expectancy of citizens approaching 84 years in 2019. According to Qingwen WU, this is, to some extent, attributed to the perfect medical service system in Suzhou, including medical insurance policies and nursing insurance. “In particular, innovative medical devices have been first incorporated into Suzhou’s serious disease insurance and used in major hospitals in Suzhou, so that people can use and afford high-quality innovative drugs and innovative medical devices, creating an excellent development ecosystem of innovative industry.” After the guests of honor delivered their respective speech, the Oriental Innovation Center held the enterprise contract-signing ceremony. Twelve enterprises, namely, SINOMED, Maidi Technology, Hanyu Medical, Peijia Medical, magAssist, VIVOLIGHT, Youshi Medical, Dingke Medical, Zenith Vascular, STMed Technology, Sigma and CCRC, reached a consensus and planned to cooperate with the Center, showing the promising development prospect of the Center.
Innovation is the eternal theme of the times. At the Establishment Conference, Li SHEN, secretary general of the Center for Cardiovascular Innovations (CCI) and chief physician of the Department of Cardiology, Zhongshan Hospital, Fudan University, worked as the host and expressed his expectations, “The Innovation Center will take advantage of the trend and scale new heights, focus on new technologies, new products and new directions in medical care, and create an innovative integration platform for the medical device industry.”
Academician Forum. After the innovation torch of the Oriental Innovation Center was lit, the Academician Forum was kicked off immediately, pushing the event to a climax. This Academician Forum was joined by 6 academicians in cardiovascular science, gastroenterology, physics, biomedicine, tissue engineering and robotics, who together played a transboundary fusion symphony of medical innovation.
Jianwei PAN: New Quantum Revolution.
The speech theme of Jianwei PAN, academician of the Chinese Academy of Sciences and executive vice president of the University of Science and Technology of China, was new quantum revolution. He shared that after about 100 years, quantum mechanics has been ready to solve the major complex computational problems. The so-called quantum is the most basic unit that constitutes matters, and the most basic carrier of energy, which can’t be divided. The use of “quantum entanglement”, which Einstein called “weird interactions between distant places”, allows quantum information to be sent to another place without the carrier itself. Therefore, quantum communication is considered to be an unconditionally secure way of communication in principle. Among other things, quantum computing and simulation, with their super-fast computing power, can quickly reveal the rules of complex systems. Quantum precision measurements can also go beyond classical limits, which can lead to further applications in the future life sciences. Also revealed by Academician Jianwei PAN, with the support of the State Development and Reform Commission, this team has built a demonstration project for the verification and application of optical fiber quantum secure communication technology along the Beijing-Shanghai trunk line with a total length of more than 2,000 kilometers opened in September 2017. After standard development and completion of safety study, future commercial operations will be explored.
Weiqi WANG: Good Tools are Prerequisite to the Successful Execution of a Job.
The speech topic of Weiqi WANG, academician of the Chinese Academy of Engineering, is “Good Tools are Prerequisite to the Successful Execution of a Job—An Understanding of Some Problems in Biomedical Engineering.” Starting with the establishment of the National Biomedical Engineering Discipline Group in 1979, he reviewed the development history of China’s biomedical engineering. As a matter of fact, science and engineering have long infiltrated the field of medical care, pointed out by Academician WANG. Roentgen WK discovered X-ray in 1895 and became the first Nobel Prize winner (in 1901). With the invention of CT theory and technology thereafter, Housfield GN and Cormac AM shared the Nobel Prize in Physiology and Medicine in 1979. In the future, there will be at least 12 revolutionary technologies in relation to medical care, including mobile Internet, Internet of Things, cloud computing, robotics, 3D printing technology, new-generation genomics, knowledge work automation, new materials and energy storage technology. “The more advanced science and technology is, the more important humanities are.” Academician WANG also emphasized that the direction of development and the boundaries of use of science and technology must be regulated through humanities and social sciences.
Xiaosong GU: Tissue Engineering Innovation and Regenerative Medicine.
Xiaosong GU, academician of the Chinese Academy of Engineering and director of Jiangsu Key Laboratory of Neural Regeneration of the Education Department of Nantong University, gave a speech themed with “Tissue Engineering Innovation and Regenerative Medicine”. Over the past 20 years of advancing the development of tissue engineered nerve, Academician Xiaosong GU’s team has successively developed chitosan artificial nerve grafts, silk fibroin tissue engineered nerve grafts, cell stromal tissue engineered nerve grafts, micronucleic acid mediated tissue engineered nerve and other innovative results. In terms of biodegradable materials, for example, his team has conducted in vitro experimental research, in vivo experimental research in rats, dogs and monkeys and clinical application research. After more than 10 years of accumulation and gradual improvement, his team has put forward the concept of biodegradable tissue engineering nerve construction which was incorporated into the new textbooks of the University of Cambridge in 2014. His team is the first team to apply chitosan nerve grafts in clinical practice and it’s the first innovative research and development to transform artificial nerve research into clinical practice. In the future, he said that efforts would be made to strengthen the basic research of advanced biomaterials, improve the quality and standard of stem cell therapy and related derivatives, make innovations on key and core technologies of bionic complex organ development, and attention would be paid to the establishment of innovation systems such as product quality standards, evaluation systems and related policies and regulations.
Zhaoshen LI: Welcome the New Era of Comfortable and Intelligent Digestive Endoscopy Technology.
Zhaoshen LI, academician of the Chinese Academy of Engineering and director of the Gastrology Department of First Affiliated Hospital of Naval Military Medical University, delivered a speech themed with “Welcome the New Era of Comfortable and Intelligent Digestive Endoscopy Technology.” From rigid endoscopy, semi-flexible gastroscopy, fibrous endoscopy to electronic endoscopy, as pointed out by Academician LI, digestive endoscopy in the 21st century has entered a new era of diagnosis and treatment technology. At present, various digestive endoscopic diagnosis and treatment techniques have covered the whole digestive tract and adjacent organs, including ERCP—minimally invasive technique of biliary pancreas, ESWL—minimally invasive treatment of chronic pancreatitis, ESD—minimally invasive surgery under endoscopy for early gastrointestinal cancer, and NOTES—surgery without abdominal incision. Therefore, the development objectives of digestive endoscopy should include comfortable and humanized endoscopic examination process, non-blind area and intelligent endoscopic diagnosis technology, and the minimally invasive and refined endoscopic treatment technology. According to Academician LI, the domestically made small intestine capsule and remote control capsule gastroscope have been successfully developed. In the future, remote control vibration capsule for colonoscopy, remote control capsule endoscope for directional drug release and capsule endoscope for treatment of obesity may all become reality. “We are convinced that that day is not far off,” Academician LI added with expectation.
Academicians’ Talk: Explore the Path of Medical Innovation in China. After delivering the keynote speeches, the 6 academicians gathered on the stage to discuss innovation, released their sparks of ideas and shared their insightful views. Guangzhong YANG, fellow member of the Royal Academy of Engineering and president of Institute of Medical Robotics, Shanghai Jiaotong University, revealed in the talk that with the continuous improvement of sensing capabilities, surgical robots would be as ubiquitous in operating rooms as mobile phones are in life. Academician PAN introduced how quantum mechanics could be used in medical devices, including the possibilities of precision detection, sensing, artificial intelligence imaging and analysis. As the host of the Talk, Professor Yong HUO of the Department of Cardiology of Peking University First Hospital, revealed that the market share ratio of devices to drugs in China is about 1:2, while the figure in developed countries is usually 1:1, indicating that there is still a lot of room for development of device innovation. In response to this, Academician LI believed that there are two major problems restricting the innovation of medical devices in China: for one thing, the enthusiasm of doctors and engineers to innovate together is not mobilized, namely, inadequate medical and engineering cooperation; for another thing, doctors should conscientiously start from the source of original innovation, and should not limit their efforts to the publication of a small article. Academician GU mentioned that standards should be put first in innovation, and relevant innovation research and development should be carried out under the guidance of industry standards and evaluation regulations.
According to Academician Weiqi WANG, medical and engineering talents should strengthen exchanges in the process of innovation, with doctors proposing ideas and engineers proposing solutions, working together for optimization; the journey of innovation may require new attempts when previous attempts fail, or need numerous tests before success can be achieved. Therefore, innovators should insist on their efforts.
In the Q&A segment, Deputy Director Zhong LU pointed out that innovators should not only uphold medical and engineering cooperation, but also communicate about the policies and evaluation system with the evaluation and approval authorities in the process of innovation, actively participate in the scientific research of medical device supervision, and utilize new standards, methods and tools to make the innovation process more effective and put the innovative products into application as soon as possible.
Mr. GE further emphasized that it’s a long and complex process from samples to products and to commodities, which can’t be completed by innovators alone, but requires cross-platform cooperation, platform building and team work.
Meanwhile, Mr. GE proposed some innovative ideas, including comparing and calculating the success rate of multiple surgical procedures with big data before the surgery. “Future medicine should develop in the direction of cross-innovation of new technologies in multiple disciplines, rather than stop on the basis of current applications.”
Oriental Cardiovascular Innovation Summit. While the Academician Forum in the morning was strategically oriented, and the Innovation Summit in the afternoon presented extensive knowledge, diverse perspectives and rich contents. Yawei XU, director of the Department of Cardiology of the Tenth People’s Hospital Affiliated to Tongji University, who also worked as the host, said, “This is an era of innovation. Innovation is a passionate cause. Today we have not only benefited a lot, but also felt a surge of emotion and unswervingly ignited the flame of innovation.”
Junbo GE: Opportunities and Challenges of Cardiovascular Device Innovation in China.
As the first guest speaker at the Oriental Cardiovascular Innovation Summit, Mr. GE elaborated the opportunities and challenges of China’s cardiovascular device innovation from five aspects: the innovation and development status quo of global medical device industry, the innovation and development status quo of China’s medical device industry, the innovation progress of China’s medical device in response to COVID-19, the innovation progress and trend of cardiovascular medical devices, and the exploration of CCI. He pointed that China’s medical device sales have a compound growth rate of about 20% in recent years, much higher than the global average of about 5.6%. In the development of continuous technological innovation capacity, however, China has a gap to fill in, which is reflected in the low innovation capacity, insufficient R&D investment, and the lack of innovation system and supporting policies. Through the rapid commercialization case of “a kind of anti-fog goggles with a dewatering and drainage structure” during the outbreak of COVID-19 within 21 days by the CCI team, Mr. GE gave a detailed introduction to the innovation project incubation process of CCI. As an innovative R&D platform mainly composed of doctors, CCI is run by the philosophy of “from the doctor, by the doctor and for the doctor”. Thus far, CCI has trained about 250 trainees, established about 30 startups, and collected about 100 cardiovascular innovation projects. It’s worthy of its name as the benchmark model of China’s specialty innovation.
Chaim S. Lotan: Global Trends and Hot Spots in Cardiovascular Innovation.
According to Chaim S. Lotan, co-founder and co-chairman of ICI, current and future clinical hot spots include valvular heart disease, sudden cardiac death, heart failure and structural heart disease; accordingly, the trends of cardiovascular innovation are heart failure, digital technology and regenerative medicine, while the technological frontiers include 3D medical image revolution, augmented reality wearable devices, VR/AR medical education and artificial intelligence technology. Professor Lotan further pointed out the basic premise for successful innovation is to identify “truly unmet needs”. Once such needs are identified, innovators shall focus on three important Ts—Technology, Team and Time.
Yunbing WANG: The Challenges of Domestically Made Cardiovascular Materials and Their Countermeasures.
In his speech, Yunbing WANG, director of National Engineering and Technology Research Center for Biomedical Materials, introduced that biomaterials science and industry are undergoing a revolutionary revolution, and conventional synthetic biomaterials can’t meet the clinical needs in terms of function and service life; materials for regenerating or reconstructing tissues or organs and implanted devices are the main development fields of the industry in the next 15 to 20 years; the application of new technologies, such as big data, artificial intelligence, Internet and minimally invasive intervention, will bring innovations in the research and development, production, clinical application and regulatory model of biomaterials and devices. Meanwhile, the international environment for the development of biomaterials in China is undergoing changes. The U.S. Department of Commerce has added biomedical materials to its control list against China, but the rapid spread of COVID-19 has promoted global trade protection and technological protection. As far as segments are concerned, cardiovascular materials and devices have become the second largest product in the global biomaterial and medical device market. Minimally invasive intervention has basically become the main treatment method of cardiovascular diseases because of its low risk and quick operation time, and research hotspots of cardiovascular and cerebrovascular implants include minimally invasive interventional valves, bioabsorbable stents, drug coated balloons. It is worth mentioning that the National Engineering and Technology Research Center for Biomedical Materials, as China’s first national basic research and applied research institution for biomedical material and device commercialization, has unfolded pioneering regulatory science research for medical devices, and become China’s first regulatory science research base of National Medical Products Administration, and promoted China’s change from passive to active regulatory oversight in biomedical materials.
Jie TIAN: Research and Application of Multimodal Molecular Imaging and Radiomics in Cardiovascular Diseases.
According to Jie TIAN, director of Beijing Advanced Innovation Center for Big Data-Based Precision Medicine, the challenges in the diagnosis and treatment of cardiovascular diseases include inaccurate preoperative imaging, empirical treatment during surgery, and lag in postoperative pathology. In response to this, multi-mode molecular imaging and radiomics have realized the visualization and quantification of structures to molecular and cellular functions based on the tool of artificial intelligence, including but not limited to quantitative analysis with the help of radiomics before treatment and visualized analysis with molecular imaging during treatment. Director TIAN shared that, “As a matter of fact, we connect the macroscopy and microscopy in the spatial dimension on the one hand, and link the diagnosis and treatment with the prognosis in the temporal dimension on the other hand.”
Innovation Talk: Explore the Medical and Engineering Cooperation and Industrial Innovation.
Under the chair of Chenxi OUYANG, chief physician of Fuwai Hospital, Chinese Academy of Medical Sciences, four speakers unfolded a debate over “Exploring the Medical and Engineering Cooperation and Industrial Innovation”. As pointed out by Director Yunbing WANG, in comparison to the Western countries, China has a huge institutional advantage, which is further proved during the COVID-19 outbreak. Therefore, we should understand and make good use of China’s institutional advantage to develop world-class innovative medical products, especially more breakthroughs in “bottleneck” technologies. Director Jie TIAN revealed that, due to the different methods of talent training, China needs more medical and engineering cooperation than developed countries do. When it comes to practical operation, we should adhere to problem orientation, start from clinical problems and have engineers develop new methods and new technologies, and finally review clinical effect. Only by complementary cooperation can we achieve twice the result with half the effort and achieve win-win development. Chunmin SHI, from Cardiac Interventional and Structural Cardiology Division, Boston Scientific China, pointed out that Boston Scientific takes China as one of its important global strategic markets, and thus plans to base in and service China. In terms of research and development, Boston Scientific has gathered a group of research and development talents in China over the past 10 years, and have thus actively sought domestic partners to promote innovation commercialization; moreover, Boston Scientific has newly established the West Logistics Center and Joint Innovation Center in Chengdu High-tech Zone, and will further roll out projects in industrial commercialization and other aspects; furthermore, Boston Scientific also hopes to cooperate with domestic innovative enterprises in marketing and promotion based on years of marketing experience and professional teams, so as to sell high-end innovative products from China to the world and open up the access to the international market. Ruiyan ZHANG, director of the Department of Cardiology Ruijin Hospital Affiliated to School of Medicine, Shanghai Jiao Tong University, pointed out, “It is a long cycle to establish the medical and engineering cooperation mode, which still needs a systematic platform and system development. CCI Innovation Institute is a good example. Before the reform of the country’s large education system, we can try to establish a micro-ecosystem of medical and engineering cross-innovation and commercialization in a small scope, so as to facilitate the momentum of medical and engineering cross-innovation in the whole country.”
Xinli SHI: Progress of Medical Device Evaluation and Approval System Reform in China.
Xinli SHI, head of Evaluation Division III of the Center for Medical Device Evaluation, National Medical Products Administration, introduced progress of medical device evaluation and approval system reform in China from the aspects of improving clinical trial management, optimizing review and approval process, strengthening the development of system of guiding principles, starting E-application information system and reinforcing review scientific research. Take strengthening the development of quality evaluation system for example. The Center for Medical Device Evaluation, National Medical Products Administration has established the intelligent allocation system. That is, in order to ensure the fairness and integrity of the review process, the projects are reasonably allocated to the reviewers qualified for corresponding product review according to their review qualification recognition, which reduces manual intervention to the greatest extent and effectively improves the review and approval efficiency. The good news is, from the data of Center for Medical Device Evaluation, National Medical Products Administration, that domestically made innovative devices take a dominant position, 79% of the Class III approved devices are made in China, and 99% of the innovative devices are made in China.
Yundai CHEN: Holistic Diagnosis and Treatment of Cardiovascular Imaging.
In the eyes of Yundai CHEN, president of the Graduate School and director of the Department of Cardiovascular Medicine of PLA General Hospital, imageology has entered a period of rapid development. From one-dimensional M-mode ultrasound to two-dimensional color Doppler and three-dimensional ultrasound, the transformation from structure and function to diagnosis and treatment has been realized. According to President CHEN, imaging guided intervention in the treatment of structural heart disease has become an unstoppable trend, automatic measurement and intelligent diagnosis will achieve one-stop evaluation of heart function. In the future era of intelligence, information technology, big data and deep machine learning, imaging will run towards the direction of intelligence and integration, and be closely integrated with our lives, so as to better intervene in clinical decision-making and benefit patients.
Po-Lin HSU: Development and Prospect of Interventional Artificial Hearts.
Po-Lin HSU, special-term professor of Soochow University and deputy director of the Institute of Artificial Organs, is also a founder and the CEO of magAssist. She revealed in her speech that China has 330 million cardiovascular disease patients, and the prevalence rate of this first cause of death is on the rise. Heart failure occurs when the heart loses its ability to pump blood; an artificial heart breaks down the process of heart failure, maintaining blood flow and body function when a patient’s heart is not working. In the interventional artificial heart segment, the products launched to the global market are growing rapidly, and there is a great possibility for new products or products under development to stand in the forefront of the international market or even to overtake in the corner. At present, the treatment stage of heart failure is moving forward, which puts forward higher requirements on multi-dimensional product optimization or product line layout. Summing up the market situation, Xu believes that clinical demand + engineering accumulation + capital insight = a golden decade for heart failure treatment. “We hope to save more people with better technology,” she says firmly.
Yunxia YANG: View the Development and Innovation of Medical Device From the Perspective of Investment.
According to Yunxia YANG, managing director of Sequoia Capital, the basic skills of investors are selection, investment, cultivation and exit. Take selection for example. Investors shall first make trend judgments. In her opinion, minimally invasive, non-invasive, digital, intelligent, networked, simple, automatic and roboticized medical devices and diagnostics are future development directions; secondly, according to the disease spectrum, the segments with huge market growth space should be identified based on such reference criteria as disease incidence, annual operation volume, existing product sales volume and capacity of overseas mature markets; thirdly, rigid demand should be considered from prevention, diagnosis, treatment, rehabilitation and other stages; lastly, investment layout should be considered from the perspective of technological innovation. Mentioning about that, General Manager YANG said, “Investment is investing in the future. We have no reason not to believe in improved innovation, and we also believe that China will have more and more breakthrough innovations in the future.” She further introduced the investment view of Sequoia Capital, an investment fund with a history about 40 years, “Our slogan is the entrepreneur behind the entrepreneur. Financial support is just the beginning of our support for the enterprise, because there are many factors involved in the success of an innovative enterprise, and we will also provide systematic post-investment management.”
Innovation Talk: Opportunities and Challenges of Independent Innovation.
Under the chair of Xiangqing KONG, director of the Department of Cardiology of The First Affiliated Hospital with Nanjing Medical University, the guests unfolded their discussion themed with opportunities and challenges of independent innovation. General Manager Yunxia YANG pointed out that medical innovation can’t be achieved overnight. Medical investment requires a great deal of patience. If investors tend to invest in the short term, innovators will be very passive. In selecting the first investor, therefore, innovators should look for partners who have patience, understand the characteristics of the healthcare industry, and have put in place a long-term investment mechanism. President Yundai CHEN revealed that the right thing needs to be done by the right people, so medical innovation requires teamwork. At the same time, the medical team and the technical team should understand each other’s discourse system and maintain good communication efficiency. As shared by Deputy Director Po-Lin HSU, “the only destiny for a major in bioengineering like her is commercialization, and only when the technology is applied to the patients can the real value be generated”. In the process of starting a business, the whole team upholds the motto that “fight for it”. Only with 200% effort can there be no regrets. According to Huafeng YU, vice president of R&D of WEGO Cardiological Consumables Group, China is still based on improved device innovation today, but this is the development process we must go through. Only by constantly improving our entire innovation system in the process of improved innovation can we move from improved innovation to original innovation.
Xiaotao LI, vice president of Strategic Planning and Business Development of Boston Scientific, pointed out that from a strategic perspective, COVID-19 did not have a significant impact on Boston Scientific’s medical innovation process; from a microscopic perspective, the pandemic has highlighted the importance of medical industry and helped boost confidence in medical innovation; in consideration of the catalyzation of the pandemic, practitioners shall be calmer and distinguish investment from speculation.
The Summit came to a successful end in thundering applause. The participants continued to discuss and communicate with the speakers. Just as Mr. Xingzhi TAO said, everyone is an innovator; innovation can be everywhere; every minute can be the time for innovation. We have ushered in the golden age of medical device innovation, and our Oriental innovation will shine in the east of the world!