J&J sets up Shanghai incubator for startups

Ti Gong

Johnson & Johnson’s innovation arm has unveiled its biggest incubator and the first of its kind in Asia, the JLABS @ Shanghai, in the Zhangjiang Hi-Tech Park.

The park has a capacity for more than 50 startups.

The first batch of 31 startups have joined the facility, covering a wide sector in pharmaceuticals, medical devices and health care. 

The 4,400 square-meter site, a joint venture with Zhangjiang Group’s affiliate Shanghai Pharma Engine Company, is the 12th such incubator for J&J around the world.

It’s using the same model as well as the same level of facilities and lab instruments as other sites in the world to help startups join the network of companies and expertise under J&J. 

J&J says it has seen local companies have particular strengths in areas such as artificial intelligence, and immuno-oncology. 

Paul Stoffels, vice chairman of the executive committee and chief scientific officer at J&J, noted that by learning from J&J’s know-how of developing pharmaceuticals and medical devices, startups are expected to reduce the time to market and improve the probability of success. 

“Building an ecosystem of innovation requires connection with industry leaders and the launch of JLABS @ Shanghai also strengthens Zhangjiang’s life sciences industry scene and the science service mechanism to achieve integrated development,” Zhangjiang Group Chairman Yuan Tao said. 

Biopharmaceuticals is also one of the pillar industries targeted by the Shanghai government in its efforts to push forward further reform and opening up to drive the next level of economic development in the Pudong New Area. 

“JLABS @ Shanghai adds to our expanding presence of R&D and innovation facilities in Shanghai to develop a regional hub for innovation for the family of companies under the J&J,” said Will Song, chairman of Johnson & Johnson China. 

A total of 16 pharma companies, 13 medical device companies and two consumer health care companies have already joined JLABS @ Shanghai which gives them access to J&J's global network.

It’s also working with about 20 venture capitals firms, including Matrix and Vivo Capital and invites venture investors to come in at least once a quarter to mentor the startup CEOs to help them with fundraising and development.