WEDZ incubator receives national recognition

The office building of Wuhan Economic and Technological Service Co [Photo provided to en.whkfq.gov.cn]

The Wuhan Economic and Technological Service Co – based in the Wuhan Economic & Technological Development Zone (WEDZ) – has made the excellent national sci-tech enterprise incubator list for 2021, along with another 17 Wuhan-based incubators.

The list was released by the Torch High Technology Industry Development Center of Ministry of Science and Technology in a bid to promote the systematic and professional development of business incubators.

Wuhan Economic and Technological Service Co is a State-owned incubation platform and has become a provincial sci-tech incubator, provincial intellectual property right (IPR) service base, municipal demonstration base for Wuhan's small and micro-sized business start-up and innovation, provincial IPR protection station, and national sci-tech incubator.

It has held more than 30 innovation-based activities, cooperated with over 30 universities and sci-tech institutes and 100 venture investment institutions, foundations and banks, and formed three major service systems for public services, professional services, sci-tech finance, to build an innovation and entrepreneurship ecosystem for the zone.

In 2021 alone, the incubator brought in more than 20 sci-tech firms, cultivated five such firms, and signed agreements for five projects, with the total technology contract value reaching 14 million yuan ($2.09 million).