Merck to set up slew of hubs to promote innovation
Buoyed by the strong economic prospects in China, German science and technology firm Merck Group is planning to set up a slew of innovation hubs and acceleration projects for grooming startups in China, a top company official said.
The Shanghai innovation hub, which was opened on Friday, together with an ensuing one in Guangzhou next month, is a clear indication of Merck's strong ties with the dynamic Chinese innovation ecosystem, said Stefan Oschmann, chairman and CEO of Merck Group.
"China will definitely be the largest economy in the world (in the future)," Oschmann said after the launch ceremony in Shanghai. "And this is not only based on China being so big and having such a (huge) population. It is also based on values and cultural elements in Chinese society."