EY partners with Caohejing high-tech park to support promising startups

EY today unveiled a program for high-growth enterprises, together with Shanghai's Caohejing High-tech Park, in a bid to facilitate the high quality development of startups.

Specifically, EY will arrange counseling services for selected high-growth enterprises and provide related resources. In addition, the consulting firm will also assist high-growth enterprises in formulating their business plans and identifying business opportunities and challenges.

As part of the agreement, Caohejing high-tech park said it will provide flexible office space, incubation services, the latest science and technology information, as well as preferential policies and development platforms to support the development of high-growth enterprises.

Philip Leung, EY’s China market leader, said they want to inject new energy into the development of China’s high-growth enterprises. By teaming up with the park, the company aims to speed up the growth of innovative enterprises and offer them mentoring services and valuable strategic support.

The center will focus on promising start-up projects in areas such as artificial intelligence, innovative medical devices and Internet of Things, which will be the key drivers for the new round of industrial revolution.

Benson Ng, EY China’s digital hub lead, noted that although an increasing number of companies are applying artificial intelligence to their business models, some of them are not completely sure why they should adopt the technology and what the benchmark is for success.

“Cultivating corporate clients and sharing successful cases and application scenarios is an urgent matter,” Ng said.

Established in 1984, Caohejing high-tech park now boasts 3,500 enterprises, with 86 Top 500 companies having set up their regional headquarters or research and development centers in the development zone, according to Wang Zhonghao, director of the incubation department at the park.