Shanghai – Heraeus, a leading technology group, is broadening its Open Innovation approach in China by expanding start-up cooperation. Working with Shanghai-based Venture Capitalist CM Venture Capital, the company is seeking partnerships with Chinese start-ups as well as potential future investments.
“China is setting the pace in innovation for new materials and advanced manufacturing. Together with our local partners and customers we are building a cross-industry innovation ecosystem,” says Dr. André Kobelt, Member of the Board of Managing Directors of Heraeus Holding. “CM Venture Capital is the ideal partner for this step. Having evaluated over 3000 Chinese start-ups in hard-technology space, CM Venture Capital has deep technology and industry expertise. We also see a perfect fit in our joint strategic focus in digital industry, environment as well as materials and manufacturing.”
CM Venture Capital started in 2010 as an Open Innovation advisory company, named China Materialia, building a broad network of international and Chinese startups, companies, venture capital funds, universities, and research institutes. In 2011, the company started its venture capital activities, leveraging its extensive Open Innovation experience and broad ecosystem among both start-ups and multinational companies. Renamed to CM Venture Capital in 2019, the company has now three venture capital funds under management with investments in China, US and Europe. Many of CM Venture Capital portfolio companies have become industry leaders in their respective industries.
“Our foremost goal is to assist entrepreneurs in the building of lasting enterprises that make the world a better place,” says Dr. Min Zhou, Managing Partner at CM Venture Capital. “We are excited to work together with Heraeus as one of our corporate strategic partners.”
Based on its Open Innovation strategy, Heraeus has been working with cross-industry partners and customers in its Shanghai-based innovation center since 2018. The company has also expanded its cooperation with Chinese universities including partnerships with Shanghai Jiao Tong University, Fudan University and Shanghai University.