The Songjiang-based TUS-Caohejing Science Park has reported great performance over the past three years.
More than 95 percent of the park was booked when it first opened in 2016 and it earned 1.5 million yuan (US$221,000) in revenue per mu (667 square meters) last year. It also gained 470 intellectual property items.
The park covers mostly high-tech and new areas, including smart manufacturing and biomedicine, and excels in updating knowledge, technology and the industrial structure, thanks to its innovative financing channel.
“We have Venture Capital Partnership and FOF founded by TUS Holdings to support Songjiang’s technology and innovation development,” said Xu Erwei, general manager of the science park.
“Startups need the capital to grow, especially in the first two years; and if the money comes sooner, it is better,” explained Wang Shili, vice general manager of PURSPEC Technologies, whose products expanded in scale due to the 20 million yuan funded by the park.
The fund has also played a role in guiding the industries and cultivated a batch of potential companies in smart manufacturing and hardware.
Apart from the financial subsidy, the park is helping by offering thoughtful services on incubators, canteens and accommodation. Park staff also provide consultancy on latest talent policies.
The park complements with the Lingang Sci-tech City in the vicinity as the latter lays more emphasis on IIoT enterprises.
It has also worked with the district government to build an analysis technology industrial research institute, which has incubated a series of ongoing projects on bio-medicine.