Core Insights - The article highlights the role of the Xinchao Innovation Center in fostering innovation within the biopharmaceutical sector in Beijing, emphasizing its commitment to supporting original innovation and the exploration of the unknown [1][3][4]. Group 1: Company Overview - Xinchao Innovation Center has incubated 102 companies since its establishment in 2019, including projects from prestigious institutions like Tsinghua University and Harvard University [3]. - The center has facilitated the clinical trial phase for six globally innovative drugs and nurtured two unicorns and 25 national high-tech enterprises, with total financing exceeding 6.5 billion yuan [3]. - The center provides comprehensive support throughout the lifecycle of biopharmaceutical companies, aiming to lower barriers for scientists entering entrepreneurship [3][4]. Group 2: Industry Development - Beijing's biopharmaceutical industry is projected to exceed 1 trillion yuan in scale by 2024, with a reported value of 1.06 trillion yuan [6][5]. - The city has seen significant growth in its pharmaceutical sector, with 436 large-scale pharmaceutical enterprises generating approximately 185 billion yuan in output value [6]. - The "South-North Linkage" strategy is being implemented to enhance industrial upgrades, with the southern region focusing on the International Pharmaceutical Innovation Park and the northern region centered around the Zhongguancun Life Science Park [6][5]. Group 3: Policy and Support - Beijing has introduced a series of measures to promote high-quality development in the innovative pharmaceutical sector, including a reduction in clinical trial approval times from 60 days to 30 days [7][8]. - The new "32 measures" aim to support the pharmaceutical industry through various initiatives, such as expanding the training of project leaders and simplifying drug approval processes [8]. - A 10 billion yuan pharmaceutical merger fund has been established to further support the industry, alongside initiatives for talent acquisition and intellectual property protection [8].