Things didn't start well, Li Chu recalled. The pair endured huge stress levels as their huge investment in the company led initially only to sporadic progress and endless technical problems.

But finally, after five years of development, an investment of 190 million yuan ($28.41 million) and hundreds of trials, Nurotron received certification for its artificial cochlear devices from the China Food and Drug Administration.

Chu and Fangping's persistence has brought enormous benefits to patients in China. A single Nurotron cochlear implant system is priced at just 78,000 yuan, forcing the company's international competitors to drop their prices from 250,000 yuan to 150,000 yuan.

In 2016, the product was included in Zhejiang's public health insurance policy, which means that patients now only need to pay 18,500 yuan, with the rest of the cost being covered by the insurance.

"The first user of our product was a veteran," Li Chu said. "When he said he could hear the sound, my father and I were moved to tears."

Chu is now the general manager of the company, and his more cerebral approach to management sometimes leads to disagreements with his father. "My father is ambitious and courageous, and we have divergences in management and policy making from time to time," Li Chu explained. "However, I am learning to analyze problems from his perspective."

In Chu's opinion, the rapidly changing market requires him to keep calm so that he can make the right decision at the correct moment to ensure his company stays ahead of the curve. He is applying new management practices he learned during his studies abroad to make Nurotron more efficient.

Nurotron expects to sell 3,000 artificial cochlear implant systems this year, and 4,000 for 2019.

The cochlear implant system is just the first step of Nurotron's exploration into neural electronics, according to Chu. He said the company is working on the development of an artificial retina system and systems to treat paralysis.

A model of the cochlear implant system developed by Nurotron. [Photo/zjol.com.cn]