(ECNS)-- The HICOOL 2024 Global Entrepreneur Summit held in Beijing recently attracted 9,700 entrepreneurs and 7,406 startups from 124 countries and regions, setting respective records for each category.
Over the past five years, the summit has drawn 32,000 entrepreneurial talents and 24,000 projects globally to participate, creating 16 unicorn companies, as well as 127 specialized and innovative companies.
China: a significant market for scientific development
Technological revolution and industrial transformation are in full swing globally, with general artificial intelligence, life sciences, advanced manufacturing, and green energy leading future development and creating vast market demand.
China boasts a high-growth potential market, with well-supported industrial systems, rich application scenarios, and abundant data resources.
Financial Times in early August pointed out that in the field of AI development, China can find the alignment between products and the market, thus expanding scale and making technological applications more affordable.
"I choose China for a lot of reasons, but the main reason is about the daily life with technology in China," said German entrepreneur David WiehlsPrincipal in an interview with China News Network China is "a perfect marketplace to develop educational business," he added. He is "very confident about the area of brain-computer interfaces in China and Asia."
Toward a global innovative "laboratory"
In the World Intellectual Property Organization's (WIPO) top 100 Science and Technology Cluster ranking, China's clusters reached 24 on the list, ranking first globally for the first time. The Shenzhen-Hong Kong-Guangzhou cluster ranked second, while Beijing and Shanghai-Suzhou also ranked among the top five.
The Beijing-Tianjin-Hebei region, Yangtze River Delta, Guangdong-Hong Kong-Macao Greater Bay Area, and Chengdu-Chongqing region are emerging as tech innovation centers with global influence, while the northeast, central, and western regions of China are steadily promoting collaboration in cross-regional technological innovation.
Multinational corporations are advancing their R&D plans across China.
In 2023, Schneider Electric established several R&D centers in China, including an automation research hub, and AI innovation lab.
In March 2024, AstraZeneca invested $475 million to build a small-molecule medicine factory in China, with Shanghai becoming its fifth global strategic center.
Toward a world-class, open and innovative ecosystem
In recent years, China has been accelerating the deep integration of its innovative chain, industrial chain, funding chain, and talent chain.
China has continued to systematically upgrade its initiatives relevant to innovation from basic research to industrial policy, talent policy, business environment, and application transformation.
Independent innovation must take place in an open environment. There will be no winners in a "small yard, high fence" or "decoupling" approach to explore the frontiers for further growth. A global co-creation ecosystem, where interdependence prevails, is the only path to shared success.
CEO of the AsiaBerlin Summit Marten Rauschenberg said at HICOOL 2024 that Beijing's entrepreneurial ecosystem is very vibrant with its venture capital sector being at the top level, and that global elites are flocking to Beijing since the Chinese market provides advantages with China's policy providing investors with a long-term strategic vision.
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