FormaCyte Therapeutics won second in the China-ASEAN Innovation and Entrepreneurship Competition 2022

  • co11ab
  • biotech, medtech, formacyte
  • January 09, 2023
FormaCyte Therapeutics won second in the China-ASEAN Innovation and Entrepreneurship Competition 2022
From left: Mr Arnold Giovanni, Dr Chen Yang, Prof Dang Thuy Tram and Mr Nam Tran at the 2022 China-Asean Innovation & Entrepreneurship competition.

The China-ASEAN Innovation and Entrepreneurship Competition 2022 was hosted by the ASEAN Committee on Science, Technology, and Innovation (COSTI), in partnership with the Ministry of Science and Technology (MOST) of China.

The competition consisted of three rounds of selection. The competing teams showcased innovative solution with various products in the fields of modern agriculture, bio-medicine and health, digital economy, energy conservation, and environmental protection. The competition highlighted promising entrepreneurs, opening many doors for collaboration while enriching their entrepreneurship and innovativeness.

Since the launch of the competition in August 2022, a total of 71 groups from ASEAN Member States and China were selected for the semi-finals. After intense competition in the semi-final round, 20 teams (10 in the enterprise group and 10 in the team group) competed for the final crown. Winners from ASEAN and China shared the prize money totaling RMB402,000 (around US$57,600). MOST China sponsored the prizes.

In the Team Group category, the first prize was awarded to “Low Carbon Combustion Device” project, an invention that combines data for ground-air space and new energy system applications to reduce carbon emissions. The second prize went to three teams, namely “FormaCyte Therapeutics” from Singapore, “Instant Digital Dental Restoration System” from China, and “Brain Analytics” from Viet Nam. The third prize went to WILD PLANET-IP of Global Adventure Travel from China and Italy, Steel Slag-Based Carbon Capture and Storage by HiGee Mineralization from China and Malaysia, Kelp Farm Career (KFC) from China, Green Agriculture Development Engine-Water-Retaining Gel Type Slow and Controlled-Release from China, AI Big Data Platform of Agricultural Internet of Things Based on Blockchain from China, The Eyes of ASEAN-A Service Provider Focusing on the Cooperation between Chinese and ASEAN Enterprises from China.

The “FormaCyte Therapeutics” project treats Diabetes through injection-free cellular implant, while “Instant Digital Dental Restoration System” allows people to smile confidently by inventing an automatic restoration design and rapid fabrication materials. “Brain Analytics” improves Alzheimer’s disease diagnosis by using Artificial Intelligence (AI) to analyse Magnetic Resonance Imaging brain images.

“The competition encourages scientific and technological innovation and entrepreneurship, promotes the exchanges of innovation factors such as scientific and technological achievements, financial capital, talent teams, information and data, and enhances regional innovation capacity” said Li Guozhong, Director-General of China-ASEAN Technology Transfer Center (CATCC).

“As the only state-level technology transfer agency for ASEAN in China, CATTC is committed to lead efforts in promoting advanced applicable technology transfer and innovation cooperation between China and ASEAN countries, and we will continue to provide all-round services for the landing of entries in China and ASEAN countries,” he added.

The competition is set to return this year.

*Article reference from ASEAN dated 9 January 2023.

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co11ab Novena (co11ab) is a Bio MedTech incubator – forged through a tripartite alliance between Nanyang Technological University, Singapore (NTU Singapore), Agency for Science, Technology, and Research (A*STAR), and National Healthcare Group (NHG) – which aims to nurture and support the translational development of biomedical technologies. Our key focus areas are biotech, medtech and digital health.