Biolake posts 8.38b yuan in industrial output from Jan-July
The Wuhan National Bio-industry Base, also known as Biolake, is China's second-largest State-level biotech industrial base in terms of overall strength. [Photo/WeChat account of Optics Valley of China]
Biolake in the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC) registered 8.38 billion yuan ($957 million) in total industrial output among enterprises above a designated size during the first seven months of 2021, up 100.04 percent over the same period in 2019, with 46 Biolake-based firms recording a growth rate of over 50 percent, according to news reports from Changjiang Daily on Aug 18.
Statistics indicate that Biolake has brought in more than 2,400 biotech companies, including eight Fortune 500 firms and 34 listed companies. Biolake also boasts an annual industrial revenue growth rate of nearly 30 percent and has seven professional industrial areas.
Kindstar Global is the first company listed in Hong Kong Exchanges and Clearing cultivated by Biolake, which has now established a multi-layer cultivation echelon management mechanism to build a beneficial ecosystem for enterprises.
There are as many as 50 candidate companies applying to go public, and over 10 of them are expected to finish applying this or next year.
In terms of business financing, Biolake has launched many match-ups along with local financial, insurance and investment institutions to help enterprises gain capital support. Since the beginning this year, firms based in Biolake have attained 5.28 billion yuan and $190 million in equity investment.
From January to July 2021, agreements for three 100-million-yuan programs were signed in Biolake, involving a gross investment of 9.95 billion yuan.
"We predict it will take around 10 years to raise Biolake's economic contribution to the Optics Valley of China to 1/3 of total output," said one official from the Biolake work office.