Sensor City, one of four Government-sponsored University Enterprise Zones and a joint venture between the University of Liverpool and Liverpool John Moores University, has signed a Memorandum of Understanding (MoU) with the Tianjin-based Zhengxin Group.
Dr Joanne Phoenix, head of business development at Sensor City, said: “The signing of the MoU is the first step in what we hope will be a long-term partnership that will significantly enhance our international standing, adding a unique dimension to the enterprise eco-system which we are creating.”
The deal, which is expected to be ratified early next year, would see a Chinese Sensor City established in Tianjin. It would also see an investment fund established by the Zhengxin Group to support early stage companies based at Sensor City, and help to support Chinese student entrepreneurs studying in Liverpool to develop their ideas for sensor-related technologies and companies.
The sister Sensor City in China would also provide hands-on support to UK companies wanting to do business in China.
Sensor City Liverpool aims to create 300 start-up businesses and 1,000 jobs over the next decade, as well as foster industry-academic collaborations. It will include a Technology Development Zone, an Open Innovation Lab and offer coaching, business mentoring and access to funding.
Zhihua Feng, executive vice president of Zhengxin Group, said: “The government’s approval for the joint project has ensured the two parties’ cooperation has moved to a new level. Tianjin has a good financial investment environment and policy support, and will provide a great help for Sensor City’s landing here.
“Tianjin is also the most important high-end manufacturing production base in northern China so offers opportunities for industry collaboration on a massive scale.”.
The signing of the MoU came during a two-week trade delegation to China organised by inward investment agency Invest Liverpool on behalf of the city region. Companies from the marketing, property and technology sectors, as well as representatives from academia and Chambers of Commerce, have been taking part in the visit.
