Merck Accelerator China announced its cohort of 12 startups chosen from a pool of 235 applications. The program is set to commence in July, with notable participants including Avant Meat, a company developing lab-grown protein; ReadCrystal, a company that uses biotech to accelerate new drug development; and a nano-biochip company Cell4D+.
Merck Accelerator China was established in 2018 to identify opportunities for cooperation between startups and Merck’s existing businesses covering healthcare, life sciences, and electronics. Merck uses its own resources in science, technology, and R&D to help startups commercialize scientific innovations and facilitate a global sales network.
Each year, Merck invites ten to 12 early-stage startups to participate in a six-month acceleration program. Historically, selected companies operate in areas including artificial intelligence, sustainable meat, and other advanced life sciences.
Merck will cooperate with startups in four aspects: training, open innovation, cross-industry knowledge sharing, and investment. First, Merck will provide companies with expert training and provide courses on the latest concepts in technology, market strategy, and management.
Next, selected startups engage in innovation projects with industry leaders and complete proof of concept experiments, which will benefit from Merck’s robust global marketing and sales channels.
Third, Merck provides a platform for startups to communicate with each other, in addition to its strong alumni network, offering possibilities for cooperation.
Finally, Merck will invest up to EUR 50,000 (USD 60,000) in participating startups.
KrASIA Connection features translated and adapted content published by 36Kr and 36Kr Global. This article originally appeared in China Venture Roundup Volume 44.