magAssist, Founding Member of “Suzhou-Soochow Overseas Chinese Entrepreneurship and Innovation Alliance”, Facilitates Innovation and Entrepreneurship of Returned Students

Recently, the signing ceremony of the working mechanism of the “Suzhou Federation of Returned Overseas Chinese + Soochow University Federation of Returned Overseas Chinese + Soochow University Alumni Association” and the founding ceremony of the “Suzhou-Soochow Overseas Chinese Entrepreneurship and Innovation Alliance” were held at Soochow University (Dushuhu Campus). As a new overseas Chinese enterprise making outstanding contributions in the field of artificial hearts, magAssist is honored to become one of the ten founding members of the Alliance.

The event was attended by Zhang Ni, Party member and Vice Chairman of the Federation of Jiangsu Returned Overseas Chinese; Wang Yang, member of the Standing Committee of the Suzhou Municipal Committee and Minister of the United Front Work Department; Zhang Xiaohong, Vice Secretary of the CPC Committee and President of Soochow University; Deng Min, Vice Secretary of the CPC Committee of Soochow University; Huang Zhibin, member of the Standing Committee of the CPC Committee of Soochow University and Minister of the United Front Work Department; Li Wenhui, Party Secretary and Chairman of the Suzhou Federation of Returned Overseas Chinese; and Ms. Chen Chuxiao, Vice President of magAssist Human Resources.

The “Suzhou-Soochow Overseas Chinese Entrepreneurship and Innovation Alliance” is the first work project of the cooperation mechanism. As Huang explained, “Through cooperation between schools, localities and enterprises in many aspects such as industry-university-research docking and talent recruitment, the Alliance will promote the integration and sharing of resources, serve the innovation and entrepreneurship of new overseas Chinese, and facilitate the high-quality development of localities and universities, thereby achieving a win-win situation of ‘Entrepreneurship in Suzhou and Innovation in Soochow University’.”

magAssist maintains close ties with Suzhou, Soochow University and overseas Chinese. magAssist was founded in Suzhou New District by Dr. Po-Lin Hsu, a national talent project candidate, distinguished professor of Soochow University and dual Ph.D. in Electrical Engineering from Cambridge University in England and Medical Engineering from RWTH Aachen University in Germany.

The artificial heart, as a medical device with extremely high technical barriers, is known as the “Crown Jewel” of the cardiovascular industry and an important field in which the country must achieve technological breakthroughs. The 14th Five-year Plan clearly points out that it is necessary to achieve breakthroughs in the core technology of high-end medical equipment and accelerate import substitution.

Facing the urgent clinical needs in China, Dr. Po-Lin Hsu led her team to complete the R&D of the first MoyoAssist® Extracorporeal Ventricular Assist Device in China within three years, which has been applied in dozens of patients in multiple clinical centers nationwide. Recently, the team completed the type inspection of NyokAssist™, the world’s smallest pVAD, and its final improved animal experiments. With an interventional size of only 9 Fr (3 mm), it is smaller than a headphone jack, greatly reducing traumatic and vascular complications.

Having enjoyed rapid development since its establishment, magAssist is increasingly aware of the importance of a favorable innovation and entrepreneurship environment for the development of enterprises and talents. Against the backdrop of implementing the strategy of rejuvenating the country through science and technology and strengthening the country through talents, magAssist will join hands with the Alliance to help returned students innovate and start businesses through cooperation between schools and local enterprises; at the same time, we will continue to tackle core in vitro life support technology and promote the development of innovative science and technology in the industry.

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