Zhangjiang: a hot spot for startups

Zhangjiang Hi-Tech Park in Pudong New Area, Shanghai [Photo/IC]

A sound innovation and entrepreneurship ecosystem, active investment environment and favorable policies have made Shanghai Zhangjiang Hi-Tech Park a hot spot for startups and a gathering place for Chinese companies keen to explore the international market.

Statistics from the park show that there were over 18,000 companies in total, 53 headquarters built by multinational companies, and 828 hi-tech companies as of the end of 2018, with information technology and biopharmaceutical being the leading industries in the park.

Talent gathering

A visitor experiences a rehabilitation robot developed by Fourier Intelligence at the World Artificial Intelligence Conference 2018 in Shanghai. [Photo/IC]

For many companies, the concentration and internationalization of talents in Zhangjiang is one of the key factors behind the decision to settle in the park.

"Zhangjiang is the first choice for any Chinese companies who want to go global, as it is easier to recruit international talents here," said Gu Jie, CEO of Chinese technology startup Fourier Intelligence.

Founded in 2015 at Shanghai Zhangjiang Hi-Tech Park, Fourier Intelligence provides products and services with rehabilitation robots. Aiming to become a global intelligent robot company from its early days, Fourier Intelligence is currently the only technology company in China that exports exoskeleton robotic products and services on rehabilitation for disabled people and those who have suffered injuries to 10 countries around the world, including Australia, the United States and numerous European countries.

"Talents in artificial intelligence, robotics, and engineering are usually required in hi-tech industries, such as the robotic industry. In the United States, one can find top engineers but there is a shortfall in middle-level ones, and they might be expensive to hire. But in Zhangjiang, we can have both highly-skilled talents as well as middle-level ones," said Gu, adding that Zhangjiang is clustered with many young people.

By last October, over 370,000 employees have worked in Zhangjiang, including 6,200 doctoral candidates, 7,500 overseas returnees, 4,300 expats and 450 high-caliber talents.

Zhangjiang is also a core area in the integrated circuit (IC) industry and has gathered a number of internationally renowned integrated circuit companies. Six of the world's top 10 chip design companies have set up regional headquarters or R&D centers in Zhangjiang. Also, three of China's top 10 chip design companies have landed their headquarters there.

In the biopharmaceutical field, Zhangjiang has formed a complete innovation chain for new drug research and development, drug screening, clinical research, registration certification, and mass production. Among the world top 10 pharmaceutical companies, seven have set up regional headquarters and R&D centers in Zhangjiang.

Local government conducts business according to the rules, whether administrative businesses or taxation, said Gu, adding that this gives companies confidence that the government hopes to help them grow and develop.

Transformation ability of scientific and technological achievements

In recent years, Shanghai has attached great importance to the construction of platforms for the transformation of scientific and technological achievements, especially in Zhangjiang. In January 2018, a manufacturing and innovation center for the IC industry was established, aiming to provide technical support and services for Chinese leading chip manufacturers.

Last October, the Shanghai Center of Biomedicine Development was established, with the aim of committing to bring together innovative companies and promote the development of the industry by new drug R&D and breakthroughs in key technologies.

Meanwhile, incubators in Zhangjiang have also explored new development paths to facilitate startups by combining technical know-how and talents in multinational companies and the market resources and capital funds of local enterprises. To date, they have forged close partnerships with over 20 multinational companies and overseas institutes.

An International Technology Transfer Center is inaugurated in Shanghai, on Sept 21, 2018. [Photo/duob.cn]