Xuhui's business incubator bearing fruit

Of the 89 firms at Xuhui's iLab incubation base, 35 have secured venture capital worth a total 12 billion yuan (US$1.74 billion) in the year since they started, local officials said on Tuesday.

In 2019, Xuhui will strengthen professional incubation bases and related eco-systems to support firms covering new technologies from artificial intelligence, to the Internet of Things, big data and the cloud.

“With rich tech and academic resources and incubation systems, Xuhui will establish itself as an entrepreneurial highland in China and globally,” said Chen Shiyan, district vice president. 

Xuhui has cooperated with giants including Inesa and Microsoft to better support startups, covering IoT applications, cloud resources, offering free office space and training courses. 

The startups focus on industries from smart cities to on security, construction, transportation, governance, health care and education.