Zhongguancun Inno Way boosts high-tech innovation and entrepreneurship
Located near China's most prestigious universities in Haidian district Beijing, Zhongguancun Inno Way is at the core of Zhongguancun Science Park which has been well known as China's Silicon Valley.
Zhongguancun Inno Way is the first innovation and entrepreneurship street in China which was designed, managed and operated by Tsinghua Holdings' subsidiary Tsinghua Technology & Innovation Holding Co.
Since June 2014, Zhongguancun Inno Way has assembled dozens of entrepreneur service agencies and incubated over 2,900 startups, including 355 overseas teams. More than 1,000 startups have obtained financing that amounted to 27.78 billion yuan ($4.29 billion).
To mark the fourth anniversary of its establishment, Zhongguancun Inno Way held the Zhongguancun Global Inno Fair on June 12, where eight Zhongguancun-based high-tech start-ups gave a sense of their potential for future cooperation with France on artificial intelligence and big data by showing their latest technical achievements provided to Electricite De France (EDF) and the ENGIE.
With China's reform and opening-up, Zhongguancun developed from a street selling electronic products into an innovation-driven engine propelling both the Chinese and global innovation economy. It becomes home to an increasing number of self-innovating tech companies.
In 2017 Haidian district was home to 33 unicorn companies whose estimated value reached $200.6 billion.
Zhongguancun Inno Way
With such a number of unicorn companies, the Haidian-based Zhongguancun becomes more attractive to international investors.
WeWork, the world's largest joint office work space, signed a cooperation agreement with Zhongguancun Inno Way on June 12.
In 2017, Zhongguancun Inno Way established China's first global innovation community, matching more than 400 international projects and 13 enterprises from the US and Switzerland settled in. It also set up several technology service agencies, including the Zhongguancun Beijing-Hong Kong-Macao Youth Innovation Entrepreneurship Center and the China-Israel Technology Center.