BEIJING, March 01, 2017 – Compass Ventures Group, Israel’s leading investment company specializing in innovation and technology, signed today a strategic partnership agreement with TusHoldings, leading Chinese science parks constructor and operator, a subsidiary of Tsinghua University, itself a public university of China. This first of its kind initiative will create a bilateral ecosystem between China and Israel, acting as a catalyst for collaborative innovation and synergies based on a revolutionary cross-border model.
Compass Ventures Group, an expert in global fund management, is establishing two different investment funds to support this new joint innovation platform. The Compass-Tus funds will empower the technological and scientific exchange between China and Israel by providing resources to develop and scale-up break-through technologies with significant growth potential. In parallel, the initiative will be supported by developing a range of cross-border China-Israel science parks focusing on technology, R&D, bilateral trade collaborations, academic cooperation and the creation of dedicated incubators between the two countries.
“Given Israel’s world-renowned resources and knowledge in the science and technology sectors, alongside China’s market size potential and global-minded foreign economic policy, it is only a natural step for both countries to join forces and partner on such a ground-breaking strategic initiative. Over the past few years, Compass has specialized in exporting key Israeli technologies, and we are now ready to share our acquired knowledge and expertise with our strategic Chinese counterparts” said Dr. Ronen Dagon, Chairman of Compass Ventures Group.
The agreement, signed by Dr. Ronen Dagon, Chairman of Compass Ventures Group and Mrs. Yuan Wei, President of TusHoldings, marks a new chapter in China’s “One Belt, One Road” (OBOR) policy, an initiative introduced in 2013 by China’s President Xi Jinping, incentivizing China to take a bigger role in global trade affairs and focus on foreign economic collaboration.
Mrs. Yuan, Chairman of TusHoldings, added: “Israel is one of the world’s leading countries recognized for its scientific and technological innovations. The historical Sino-Israeli exchange of culture, science and technology has formed a solid foundation enabling further collaboration between the two countries.”
Israel’s Ambassador to China, Mr. Zvi Heifetz, and Mr. Xu Jinghong, Chairman of Tsinghua Holdings, both congratulated this innovative bi-lateral cooperation. Chairman Xu Jinghong added: “No matter what happens next in the world, the integration of global economic development in China must be a key future trend. Today’s historic partnership between Compass Ventures Group and TusHoldings mark a key step forward in promoting global economic cooperation and development, and will play a leading role in both China’s and Israel’s future growth.”
The following executives also attended the signing ceremony: Chen Hongbo, Executive Vice President of TusHoldings, Mr. Ofer Peleg, (Minister, of Finance and Economic Affairs and Head of Financial Department), Mrs. Michal Schwartz (Cultural Counselor), Mr. Liu Liedong, Vice Mayor of Chengdu, Mr. Ding Xiaobin (Director of Chengdu Investment Promotion Committee), Mr. Wu Jian (Deputy Director of Science and Technology Bureau), Mr. Pang Wenzhong (Director of Investment Promotion Committee in Beijing), Mr. Zeng Xin (Deputy Secretary of Longquanyi District), Mr. Moshe Kamar, (CEO of Compass), Mr. Zhao Yanlai (Vice President of Tsinghua Holdings), Mr. Chen Xiang (Executive Vice President of Tusholdings, Chairman of Tus Science & Technology City Group and TusHoldings Vice President), Mr. Zhao Dong (Vice President of TusHoldings and Chairman of Tus Digital Group), Zhang Jinsheng (Vice President of TusHoldings and Chairman of Tus Star Incubator), Mr. Du Peng (Vice President of TusHolding), Mr. Peng Jinchuan (Senior Vice President of TusHoldings and Chairman of Tus Sichuan).
About Compass Ventures Group (Compass VGG)
Compass Ventures Group is a leading holding group specializing in new innovative technologies, investing and managing leading technology projects around the globe. Compass was founded by former senior World Bank and world-class executives, each bringing unique global exposure and expertise with extensive business experience and know-how which form the key pillars of Compass’ vision and success. The global Compass network is strategically spread-out across leading and target markets, differentiating Compass by its multinational reach and ease of building ties in any market. With a large-scale portfolio of business contacts, experts, and key market leaders, Compass is a leading innovation expert across a wide range of sectors: environmental protection, water, green technology, security, automotive, medical, security, smart city, safe city and additional high-tech fields.
TusHoldings, a subsidiary of Tsinghua University, is a large integrated enterprise in charge of managing Tsinghua University Science Park (known as TusPark). TusPark is currently the largest single university science park in the world, with a built area of 770,000 square meters, and more than 1500 enterprises settled in the park. The park has become an important platform of Tsinghua University, created with the vision to serve China’s society and promote regional and global innovation.