New innovation alliance set up in Shanghai

An alliance comprising 25 demonstration bases for innovation and entrepreneurship in the Yangtze River Delta was established on April 21 in Shanghai to promote deeper integration of resources for scientific talents, capital and projects in the region.

The alliance, which is made up of bases located in Shanghai and the provinces of Jiangsu, Zhejiang and Anhui, will build a central network to facilitate cooperation between universities, scientific and technology parks and public communities through marketing and big data.

The alliance will also be responsible for hosting forums and exchange activities. An internal social network will also be built to enable real-time communication on innovation and entrepreneurship.

In a bid to offer professional and specific service and support to entrepreneurs and startups, the alliance will encourage the establishment of subsidiary alliances focused on entrepreneurial services, venture capital, talent exchange and industrial cooperation.

In 2017, the daily number of newly registered startups in China reached 16,600, according to Song Jun from the China Association for Science and Technology.

In Shanghai, there were more than 500 technology innovation spaces and over 16,000 technological startups as of the end of last year, said Ma Chunlei, deputy secretary of the Shanghai Municipal Government.

"We encourage more people to join the group so as to inspire the innovation drive in society," said Shi Zihai, deputy secretary general at National Development and Reform Commission. "Policies should be strengthened to better meet the core demand of entrepreneurs."