WHDZ promotes industrial innovation by raising 8 capacities

The Wuhan Economic & Technological Development Zone (WHDZ), currently boasts 54 industrial firms, 331 high-tech companies, 33 gazelle enterprises, 50 technological little giant enterprises, eight specialized and new little giant enterprises, one unicorn firm, four new research institutions, and 53 corporate R&D institutes above the provincial level.

The zone has formulated policies to develop a nation-leading new energy and intelligent connected vehicle center, integrate the industrial and innovation chains, and improve eight capacities, including cognitive abilities, the creativity of market entities, industrial element polymerizing power, and special bearing capacity.

The zone will focus on innovation in its three dominant sectors – automobiles, new materials, and new energy, and strive to make breakthroughs in core technologies.

The entrepreneurship plan issued by the zone states that at least 200 million yuan ($15 million) will be distributed as incentive funds every year to encourage outstanding technicians, researchers, entrepreneurs, and college graduates to start new businesses.

In addition, a high-tech enterprise cultivation database will be established to strengthen the cultivation, identification, and guidance of high-tech firms.

Meanwhile, the government encourages industrial titans in the zone to develop platforms to incubate new businesses and support startups launched by interior workers.