Female entrepreneur takes center stage as officials encourage research
China Daily     Updated: 2021-04-02

On the big stage of innovation and entrepreneurship in the pioneer park of the Xi'an High-Tech Industries Development Zone, outstanding female entrepreneurs are determined to realize their dreams.

"I learned about magnetic nano-materials in biomedical applications when I was a PhD candidate at Xi'an Jiaotong University," said Cui Yali, founder and chairwoman of Xi'an-based Goldmag, a manufacturer and distributor of cutting-edge products in the field of point-of-care testing.

"In the past, magnetic materials were mostly used in industrial manufacturing, aerospace and other fields. In Europe and the United States, only two or three companies began to explore biomedicine," added Cui, who is also a professor at Northwest University in the city. "Although it has not become a climate, it still forms a certain patent barrier."

With the support of her doctoral mentor Zhao Wenming and professor Fang Yu, Cui began her journey in this field to make innovative materials with independent property rights. Surprisingly, she achieved encouraging results in a short period of time.

Since 2000, she has successively published five series of academic papers in the journal Science China Press. The papers discuss super-paramagnetic particles and applications in the field of biomedicine. Her roadmap of research has also laid the groundwork for her to become an entrepreneur.

"In 2005, we were able to produce gold magnetic particle kits under laboratory conditions and began providing them for universities and scientific research institutions," Cui said.

"Until about 2010, I was convinced that gold magnetic particles could be used as core materials to develop clinical diagnostic kits, which are expected to be promoted in medical institutions and improve the health of the Chinese people.

"However, for a medical device product to be marketed, it must have a manufacturing company, so I had the idea of starting a business."

In September 2010, Cui launched Goldmag. The company uses the slogan "Science and Technology for A Warm Life" and explores the original "gold magnetic particles" as the carrier to establish the "gold magnetic particle chromatography" for genetic testing for the first time in the world.

The company has obtained 44 authorized invention patents, 29 medical device registration certificates approved by the National Medical Products Administration, and 13 products with EU CE certifications.

As of the end of 2020, there are a total of 100 innovative medical devices approved for marketing across the country.

Goldmag is the only company in Northwest China that has been approved for national innovative medical devices.

"We reached a breakeven point in 2019, and sales hit 47 million in 2020," Cui said.

As a woman, Cui has her own knowledge and experience of entrepreneurship. She believes that owning your own business, like work, contributes to a better life.

So work and life must be balanced, and the relationship between family and work must be handled appropriately.

"The growth of Goldmag is also inseparable from the support of the pioneer park," Cui said.

The pioneer park has many years of experience in business cultivation and incubation.

When Cui came up with her idea to be an entrepreneur, she contacted the park.

The person in charge of the park was keenly aware that this biomedical project has a strong potential and followed up to implement the plan.

"When we settled in the park in the early stages, we were immersed in product development and transformation," Cui said. "The park provided us with a lot of support and services," She noted the high-tech zone has introduced a series of support policies for biomedicine, allowing the company to receive money and rewards. "With a good development environment, we will have more confidence and push forward toward our future goals."

Goldmag is expanding its marketing model and making a development plan to go public.

In 2020, the Shaanxi Department of Science and Technology approved the establishment of a joint-research center for Goldmag and Northwest University to explore the integration of the in-vitro diagnosis industry, 5G, artificial intelligence and big data. Officials said such integrations would make greater contributions to public health.