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[New Journey, New Dream]Technology Finance | Giving enterprises what they need with their own capabilities? Shanghai Bank builds a good ecosystem of financial services to help “AI + medical” technology enterprises develop rapidly

[New Journey, New Dream]Technology Finance | Giving enterprises what they need with their own capabilities? Shanghai Bank builds a good ecosystem of financial services to help “AI + medical” technology enterprises develop rapidly

Scientific and technological innovation is the key to overall development. The Central Financial Work Conference proposed five major articles, which puts scientific and technological finance in the first place. Focusing on the development needs of technology-based enterprises throughout their life cycle, Bank of Shanghai focuses on new technologies, new tracks, and new industries, and continues to inject new development momentum with the power of finance to help stabilize and achieve long-term economic and social development.

  AI is coming, changing the industry

With the rapid development of artificial intelligence technology, it has brought new opportunities to more and more industries, and at the same time, it has also brought new challenges to the financial services of the banking industry.

LY Medical Technology Co., Ltd. (hereinafter referred to as “LY Medical Technology”), founded in 2017, is such a technology enterprise that has taken advantage of the trend of AI. It is mainly responsible for providing medical AI solutions to empower clinical and scientific research work in medical scenarios. and medical equipment. In particular, the AI ​​image reading system developed in cooperation with hospitals has solved the problem of doctors having to look at thousands of images for several hours and has become another pair of “eyes” for assisting doctors.

Different from traditional enterprises, “AI + medical care” is a soft medical resource, unlike hardware that is tangible and tangible. Enterprises in the startup stage develop rapidly and invest heavily in R&D, which directly brings huge short-term financial pressure. But on the other hand, enterprises have a high innovation index, great development potential, and good industry prospects. As a high-quality scientific and technological enterprise that fills technological gaps with forward-looking technologies, the company has applied for more than 500 patents for R&D-related products, and has applied and cooperated with more than 1,700 hospitals.

  Financial empowerment, technology moving forward

In response to LY Medical Technology’s corporate characteristics and pain points of capital needs, the Bank of Shanghai established a “difficulty-overcoming team” and conducted multiple rounds of communication with the company. The purpose was to “tailor-fit” the company according to the company’s characteristics and provide long-term financial support. Enterprises are no longer trapped by working capital and can focus on “hard core” technology research and development and the transformation of scientific and technological achievements. In the end, a five-year R&D fund loan product plan was customized for it, with a total credit line of 250 million yuan, becoming the company’s “primary lending bank”. With the continuous development of the enterprise’s scale, the Bank of Shanghai took the initiative to increase the credit line to 450 million yuan. So far, it has provided a total of nearly 400 million yuan in loan support for the enterprise’s R&D investment.

From “loan-free households” to “first-time loan households” to “partner customers”, Bank of Shanghai and LY Medical Technology have been together all the way. With the service assistance of Bank of Shanghai, the company has completed the research and development of dozens of AI applications throughout the entire diagnosis and treatment process. It has also obtained 5 NMPA Class III certificates, covering the four major fields of respiratory, neurological, orthopedics, and radiotherapy, and has participated in a number of national level major projects.

  Build an ecology together and win a future together

On the basis of providing credit support, Bank of Shanghai relies on its own resource endowment and the needs of technology companies in the life and health field to jointly establish the “Life and Health Joint Innovation Center” with Shanghai Jiao Tong University and Zhangjiang Group to integrate the superior resources of the three parties to build a ” The “Three Ones” system provides value-added services to enterprises: namely, a (Shanghai Jiao Tong University) expert database, a set of (Shanghai Bank) special financial products, and a set of (Zhangjiang Group) online service platforms, integrating Zhangjiang Group’s rich scientific and technological innovation investment Experience, Shanghai Jiao Tong University School of Biomedical Engineering’s high-quality project resources and professional capabilities in the field of life sciences are efficiently coupled with its own financial service capabilities to help LY Medical Technology and other technology companies in the life and health field obtain investment and financing support, efficiently complete the transformation of results, and achieve better results. social and economic effects.

Through this innovative model, Bank of Shanghai has completed the “from 1 to N” service upgrade, providing R&D financial support to more technology companies, and effectively supporting the development of the real economy with the power of finance.

As of December 2023, Shanghai Bank’s technology loans exceeded 140 billion yuan. In the “2023 Shanghai Top 100 Hard-Core Technology Enterprises List”, service companies cover more than half.

The new journey of accelerating the construction of a scientific and technological power has been unfolded, and the road to supporting the innovation and development of scientific and technological enterprises is long and arduous. The Bank of Shanghai will continue to face the new wave of scientific and technological finance development, with a sense of urgency that time cannot wait, and make great contributions to scientific and technological finance. Continuously deliver a steady stream of financial vitality.

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