To pave a bridge for small- and mid-sized enterprises and venture capital investors, Yangpu District, together with Fudan University and Shanghai Venture Capital Association, held an international forum on the venture capital environment in Shanghai last Tuesday.
The forum attracted more than 300 investors and enterprises from home and abroad, including Merrill Lynch and Singapore Exchange Ltd. Some 29 innovative scientific projects were introduced.
Home to more than 10 major universities and over 100 scientific research institutes, Yangpu has always been recognized as a knowledge-intensive district.
According to Jiang Zhuoqing, director of Yangpu District, various science and technology parks have been constructed in the district in recent years, which has so far attracted more than 1,800 companies, an increase of 39 percent year on year.
"To many start-ups, especially those set up by recent graduates, Yangpu has become their first choice," said Jiang. "We encourage them to settle in the district by providing them with preferential policies and convenient one-stop services."
The district will focus on the development of six high-tech industries, namely education, modern design, specific service, information technology, advanced materials and environmental science.
The area of science and technology parks is expected to enlarge to 1 million square meters by the end of 2005, and 3 million square meters by the end of 2007.
"In China, universities have played an important role in the development of high-tech industries," said Yang Yuliang, vice president of Fudan University. "Every year, there are advanced scientific inventions generated from universities. While the schools have gradually become the major incubators, we are looking forward to more investment to help them grow."
Some private enterprise owners are also calling for further investment.
Zhu Zongxi, director of Shanghai Libao Science and Technology Co Ltd, a local company that concentrates on digital photo developing technology, said their machines have shown great prospects in the American and Europe market, yet still need more capital to launch in the local market.
"We have already noticed the situation," said Zheng Zuohua, director of the Yangpu Science and Technology Committee. "These years we have been establishing various platforms for enterprises in related fields."