Merck Group, a German multinational pharmaceutical, chemical and life sciences company with a history of over 350 years, is teaming up with Guangzhou to build an innovation center in the city. 

Hoping to be put into operation by September next year, the agreement was signed with Guangzhou Development District on Nov 12.

The Merck Innovation Hub China project will be established in Guangzhou International Bio Island in Guangzhou Development District. It will integrate Merck's advanced technology and expertise with start-ups, academic institutions, business partners and local government partners to continuously incubate and invest in healthcare, life sciences, high performance materials and cross-business areas. Innovation opportunities will bring new technologies and solutions to the market.

In particular, the startups selected by the Merck Accelerator Program will have the opportunity to join Merck Innovation Hub China, and then deepen their development projects through the innovation center in Darmstadt and explore opportunities in the European market.

Kai Beckmann, a member of the executive board of Merck and CEO of Merck's performance materials business sector, speaks after the contract-signing ceremony. [Photo/Chinanews.com]

Merck was founded in 1668 and is the world's oldest operating chemical and pharmaceutical company, as well as a leading global technology company focusing on medical health care, life sciences and high performance materials. In 2017, Merck's total sales in 66 countries reached 15.3 billion euros ($17.35 billion).