Booming industry attracts wealth of entrepreneurs

APD NEWS

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To support innovators in achieving greater development, Chengdu of Southwest China's Sichuan province has continued to improve its scientific and technology innovation ecosystem in recent years, becoming an ideal destination for more sci-tech businesses and entrepreneurs.

JOUAV, a Chengdu-based high-tech company engaged in automated technology development, is the first unmanned aerial vehicles business that was listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange in 2021.

Founded in 2010, JOUAV first entered the UAV market in 2015.In the same year, the company developed the first of a new-type UAV for industrial uses and debuted it in the market.

After years of development, JOUAV has established its technology and is competitive in several fields including flight control and avionics, aircraft platform design and manufacturing, and design and system integration. Its clients are from industries ranging from geographic information, inspection, security monitoring and emergency management.

Moreover, a new energy UAV developed by JOUAV and Shenzhen-based high-tech company Doosan Mobility Innovation won a prize on the list of 2022 Innovation Awards released during the International Consumer Electronics Show.

According to JOUAV, the team spent two years developing a slew of technologies to make this hydrogen-fueled UAV project become a reality.

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A JOUAV employee checks an unmanned aerial vehicle of the company. [Photo provided to China Daily]

"The UAV is a strategic emerging industry. It is the sound socioeconomic development, the team's effort and especially Chengdu's innovation environment that make JOUAV stand out," said Ren Bin, chairman of JOUAV.

Thanks to the solid foundation of aircraft and electronic information, Chengdu has prepared a strong base for the development of industrial UAVs, Ren said.

Chengdu is an attractive city with great vitality and a spirit of innovation. Its sound environment helps support the development of scientific and technological innovation businesses and encourages JOUAV to expand its business in the industrial UAV sector.

XGIMI, a high-tech business engaged in intelligent projection and laser television development, is another shining example in Chengdu.

Founded in 2013, XGIMI is based in the Chengdu Hi-Tech Industrial Development Zone. In 2014, the company gained recognition in the market through its product portfolio of intelligent household projection.

Since 2018, XGIMI has broken the market monopoly that foreign-brand projectors had in the country. Its production capacity has ranked top in China for four years straight, and it has sold products to more than 100 countries and regions including the United States, Canada and Japan.

"People enjoy a stable life in Chengdu. The local government provides businesses and talents with support through preferential policies, and developers can reach more breakthroughs in products," said Zhong Bo, founder and chairman of XGIMI.

Chengdu's entrepreneurial ecosystem is conducive to developing new products and boasts optical research bases and an accumulation of electro-optic displays. These have made XGIMI set up business in the city.

According to the Global Unicorn Index 2022 Half-Year Report released by Hurun Research Institute, a total of nine businesses from Chengdu were listed, adding four compared with 2021. This indicates how Chengdu has become one of the cities with the fastest development of unicorn enterprises. The city also ranked among the Hurun World's Top 30 Start-up Cities.

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A staff member of Tongwei Solar in Chengdu inspects facilities at the company's unmanned logistics workshop. [Photo provided to China Daily]

"The key to igniting innovation vitality is to create a sound innovation ecosystem," said an official of the Chengdu science and technology bureau.

Chengdu has increased efforts in building its innovation sector in recent years, the official said.

In terms of reforming its scientific and technological institutions, Chengdu has rolled out a guideline for commercializing scientific and technological results. The city's Southwest Jiaotong University and three other universities have been listed as pilot sites in the country, accounting for 10 percent of the country's total.

A total of 37 universities, colleges, institutes and State-owned businesses in Chengdu have their reform plans, with the rights of more than 900 sci-tech results having been authorized and more than 2,500 results becoming commercialized.

In addition, Chengdu has built an innovation and entrepreneurship service platform, which is called a "sci-tech Tmall shop" by local entrepreneurs. So far, the platform has attracted nearly 30,000 sci-tech businesses and teams. In November, the platform was praised by the State Council due to its exemplary services.

In a bid to support business development, Chengdu has gone the extra mile in the financial sector.

In recent years, the city has launched a series of technological financial innovation products for supporting businesses in fields such as investment, loans and subsidies. The city also called for nongovernment capital to provide sci-tech businesses with support in investment and financing.

To date, Chengdu has a total of 16 businesses listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange, ranking sixth among its peers in the country. The city has 71,907 invention patents, up 26.82 percent year-on-year, official data show.

(APD)