LONDON Chinese investment in technology in Wales has had a double boost with the launch of the China UK International Business Incubation programme and the news that a Chinese company is to establish an R&D operation in Technium Swansea.
A strategic alliance between has been set up between Shanghai Fudan Science Park and Technium, the pan-Wales business incubation network.
Golden Prosperity (UK) is to set up a research and development facility for electronic materials for high-end technical applications, creating up to five jobs. The parent company produces an electronic paste which is used by the electronics industry for connectors and other devices. The R&D in Wales will be based on improving the properties of this paste through the incorporation of novel materials.
Golden Prosperity (UK) is the first Chinese company to open a satellite operation in Technium and the long term aim is to establish a manufacturing plant in Wales.
The China UK International Business Incubation programme is based in Technium and has been created to cater specifically for hi-tech Chinese companies wishing to use Wales as a gateway to the European market.
It will provide a business environment and provide Chinese orientated support services through the WDA, universities and business service providers.
First Minister Rhodri Morgan said: “The partnership between Fudan Science Park and Technium is part of the long term strategy by the Welsh Assembly Government and the Welsh Development Agency to attract high value, high technology companies from China.”
Under a reciprocal arrangement Welsh companies keen to access the Chinese market will have use of facilities on Fudan Science Park which Fudan University established in April 2000 and has a 20% share. There are more than 300 companies on the park ranging from 10/20 employees up to 300/500 employees with 150 of these companies are University spin-outs. The opening of Technium 2, with an additional 2639 square metres of office space, had enabled a dedicated unit to be established for Chinese companies without compromising space needed by indigenous companies.