In recent years, the Hefei National High-tech Industry Development Zone has been striving to build a world-class high-tech park by promoting the deep integration of technological and industrial innovation, continuously nurturing and expanding new quality productive forces, and comprehensively advancing high-quality economic and social development.

Since 2015, adhering to the principle of "supporting early-stage, small-scale, and science and technology-based innovation," the zone has selected 135 innovation and entrepreneurship teams for the Jianghuai Silicon Valley initiative in nine batches, providing direct funding of 81 million yuan ($11.4 million). This initiative has helped to nurture eight listed companies and two unicorn enterprises.

The Hefei National High-tech Industry Development Zone. [Photo/WeChat account: hefeigaoxinfabu]

To attract high-level overseas Chinese talent for innovation and entrepreneurship, the zone is hosting the 2024 Anhui Oversea Chinese Innovation Competition and the Innovation and Entrepreneurship Team Contest from September to December. This event aims to enhance the zone's technological innovation capability and international competitiveness by attracting projects in key emerging industries, including artificial intelligence, integrated circuits, aerospace, next-generation information technology, and biomedicine. Approximately 150 projects are expected to participate in the contest, with around 15 award-winning projects eligible for a prize of 600,000 yuan each upon establishment within the zone.

Supporting enterprises with industrial parks

The Grand Union of Innovation (GUI), situated within the zone, is a combination of high-quality parks, cutting-edge technologies, and top-tier talent. To address critical funding needs for the commercialization of scientific achievements, the zone offered loans for entrepreneurship in the GUI, with a maximum credit line of 20 million yuan per borrower.

This credit initiative has helped numerous enterprises fully leverage their human resources and assets, providing nearly 360 million yuan in funding to 77 businesses, 80% of which were first-time credit loans.

The Grand Union of Innovation in the Hefei National High-tech Industry Development Zone. [Photo/WeChat account: hefeigaoxinfabu]

As of September, the GUI had established nine innovation centers in locations including the Silicon Valley, Tokyo, Cambridge, Lyon, and Hong Kong. The initiative has recruited 80 high-level teams globally and created 40 innovation units through market-oriented operations. The GUI has collaborated closely with 600 global universities, research institutions, and alumni organizations, serving more than 15,000 alumni and attracting over 1,700 academicians, scholars, and entrepreneurs for return visits.

Over the past two years, the GUI has attracted 1,725 technological enterprises for settlement and created employment for over 60,000 individuals. Additionally, the area has gathered 216 funds with a total scale exceeding 240 billion yuan.

The Grand Union of Innovation in the Hefei National High-tech Industry Development Zone. [Photo/WeChat account: hefeigaoxinfabu]

Leveraging its excellent business environment, the Hefei National High-tech Industry Development Zone is committed to high-quality development by innovating on enterprise service delivery and strengthening management throughout the project lifecycle. Since the establishment of the GUI two years ago, over 30 events promoting innovation, entrepreneurship, and investment have been organized. They provided customized entrepreneurial mentoring services, investment matchmaking, and other professional support for over 100 enterprises. Additionally, the zone has implemented major scenario innovation projects through the open competition mechanism for selecting the best candidates to lead research projects, fostering a collaborative innovation platform for all stakeholders.