Investors Sign Agreement with Columbia for Chinese Investment
COLUMBIA - MU hosted a signing ceremony Tuesday that will allow Chinese investors to pump millions of dollars into a MU research company called "Nanova, Inc."
Nanova is a local research company founded by two MU associate professors. Mike Brooks, president of Regional Economic Development Inc. (REDI), said when a technology-based company like Nanova wants to commercialize its products, it needs a lot of money, and this agreement could support start-up fundings to help Nanova get into the market, which would also help Columbia's economic.
Hao Li, one of the founders for Nanova, said it is a great collaboration of research and business. He said the investors could bring in $3 millions to Columbia in the future.
"MU is a great university for research, and things like this will make research profitable," Li said.
Michael Middleton, deputy chancellor of MU, said this agreement will help boost Columbia's economy and create job opportunities.
"This is one example of many we hope we will develop in the next several years, where the university really does actively translate research into marketable products that will help the economy," Middleton said.