Chenchao Liu (CEO, Silreal)
Chenchao Liu, born in China and living in Germany since 2002, is the CEO of SILREAL GmbH. Chenchao holds a degree in chemistry from the Technical University of Munich and was a visiting researcher at the Max Planck Institute and ETH Zurich. He has profound consulting experience with a focus on European and Chinese healthcare systems. He is currently a lecturer on Digital Health China at the IKF in Lucerne. As a distinguished keynote speaker and Global Shaper for the World Economic Forum, his expertise on China and healthcare is recognized by private companies and public institutions such as the German Federal Ministry of Health, the European Federation of Pharmaceutical Associations (EFPIA), and the Federation of German Industries (BDI).
Can you explain your job to a five year old?
My job is to help build a healthcare bridge between China and Europe. I think that more innovation can help create better relations between the Chinese and the Europeans. Business and science working together can help the world.
What excites you most about your job?
Probably because of my background and upbringing, I have a deep passion for Sino-European and notably Sino-German relations, and a strong desire to improve them through concrete actions that facilitate coordination in the healthcare industry. I feel empowered by my work, and I am grateful to know that I can have an impact every day on this essential industry and the political space around it. I know and feel the importance of this job, particularly in times of Covid. It is exciting to be a part of this big dynamic change.
Which trend will change the future of medicine?
Covid revealed some major trends in the healthcare sector. First and foremost, the growing international effort to improve cooperation between nations, so as to better combat diseases and pandemics, requires change in the political and legal framework. It also needs a shift of standards in innovation, tech, and data-sharing, as well as policy and institutional changes to facilitate collaborative work in research and industry across borders. Another trend I have noticed recently is an increase in data sovereignty. You can now predict and personalize preventive healthcare to make it more transparent, holistic, and empowering for patients. This wider use of different data is a positive and encouraging development for the healthcare industry.
Looking back, which trends have you missed or underestimated?
Realistically, I have missed many trends, but I have great respect for a lot of different fields and dynamics. I think curiosity and patience are the two keys to notice trends. It is important to be curious toward all kinds of development, and patient enough to take the time to look at things before jumping to conclusions and formulating a judgment.
Which MedTech initiative or startup deserves more attention?
I don’t think any initiative should be particularly pushed; it should all come naturally. Your effort and success will be seen and heard automatically if you are really adding value for patients and improving the state of healthcare. You will be seen and heard, so don’t rush for media coverage, and instead focus on how you are bringing incremental change to the healthcare system and why you are doing it. It is also important to bear in mind that it is often not the tech that is missing, but rather, a mindset and regulatory framework. That's why it is important to keep an active voice, and further the interaction between business and politics.
Where would you put a million dollars?
I'm not an expert at investing, but I would definitely use a portion of the money to invest in interesting companies in healthcare because that is where I have a decent understanding. I think I would focus on B2C digital health platforms, as well as deep tech BioTech, which is riskier, and then MedTech for a lower risk.
What’s the best advice you’ve ever received?
To be patient. In the start-up world today, there is a race for validation. Although we live in a time of change in the pace of things, there is one thing that I think will never change: To be successful and accomplish something, you have to wait and work hard before you can see real results. I am grateful that this is what I was taught, and I try to practice it in my own company.