Tech developer's growth an innovation zone success story
Shanghai Exiao Technology Co Ltd is expanding rapidly, growing from a very small office five years ago to now occupying 4,000 square meters on three floors in the neoBay Global Innovation and Entrepreneurship Zone in southern Minhang District.
A leading developer of no-code systems, Shanghai Exiao has hired more than 100 employees in recent months, increasing its total staff to nearly 300.
Sales revenue for 2022 is expected to reach 100 million yuan (US$14.49 million), almost triple that of last year.
The company was founded by three graduates from Shanghai Jiao Tong University. They rented a desk at the neoBay zone to start up the business. They relocated several times as the company expanded, but were never far from the crossing of Jianchuan and Cangyuan roads, in the center of the neoBay zone.
The total office space in this area is around 300,000 square meters, and 95 percent of the space has been rented, according to Shanghai South Waterfront Investment Development Co Ltd, the investment platform of Minhang.
So far, 13 science parks have been started in the cluster area, catering to startup incubation, development acceleration, testing and commercialization of scientific developments.
Nearly 700 enterprises have moved into the area, with over 70 percent engaged in the science and technology sector.
Construction of a new phase of the neoBay zone is in full swing.