The startup scene in China

Qingdao’s ocean bureau identifies marine drugs and bioproducts as a life-health priority in the city’s 10+1 innovation industry system. The bureau also reports a 164-member marine-industry network spanning research institutions, marine companies, service organizations, banks, and funds, and names joint research centers for traditional medicine, marine devices, and biopharma. [34464, 34465, 34466]

The bureau names marine drugs, biomedical devices and materials, functional foods, cosmetics, and medical R&D services as marine bioeconomy value-chain priorities. It reported 37 provincial and municipal marine-biopharma projects with combined investment greater than RMB 37.1 billion. [34469, 34467]

Qingdao Daily’s compilation of public information counted more than 83 publicly identified equity financings in 2024, excluding IPOs, NEEQ listings, private placements, and mergers and acquisitions. It attributed about 80% of tracked financings to direct or indirect state-capital backing and identified new-generation information technology, life health, and intelligent equipment as leading financing sectors. [34470, 34472, 34473]

An Economy Guide report republished by The Paper identifies Wotu Intelligent as a Qingdao-headquartered agricultural robotics company founded in July 2023. The report says the company announced a Series A first tranche in the tens of millions of renminbi on February 5, 2026, jointly led by Qingdao Sci-Tech Innovation Fund of Funds and Jinqiao Fund. [34476, 34477, 34478]