Germany’s Merck officially opened its Shanghai Innovation Hub, announcing that it will offer $14 million in seed money to innovative China startups. The fund will make investments of between $550,000 and $1.1 million in healthcare, life science and performance materials companies. In addition, Merck plans to open a second China Innovation Hub in Guangzhou next month, with its own $14 million seed fund. The two funds are designed to get Merck more involved in China’s startup scene.
Source: China Biotoday
