Huangpu recognizes five more unicorn enterprises

The Huangpu science and technology bureau recently recognized one local enterprise as a unicorn in 2020 and four as potential unicorns.

Unicorns refer to enterprises that have a market value of at least $1 billion before going public.

In addition to district recognition, WeRide, China's leading Level 4 autonomous driving company, also entered the national list of unicorns in 2020.

The autonomous driving vehicles developed by WeRide.

The four potential unicorns are Guangzhou Maxinovel Pharmaceuticals, Guangzhou Lupeng Pharmaceutical, Guangdong Raynovent Biotech, and Guangzhou LintonPharm.

All five of the enterprises are in the IAB (IT/ICT, artificial intelligence and biopharmaceutical) sectors, demonstrating the remarkable achievements of Huangpu in fostering strategic emerging industries.

Huangpu launched a program to cultivate unicorn enterprises in 2017. As of now, it has recognized more than 20 unicorn enterprises, including Xpeng Motors and Burning Rock Biotech. Six of them have gone public successfully.

In recent years, the district has implemented a series of supportive policies related to the cultivation of start-ups, high-tech enterprises, gazelle enterprises (high-growth companies) and unicorn enterprises. It now tops Guangzhou in the number of listed high-tech enterprises and has ranked among the top four nationwide in the number of inducted gazelle enterprises for five consecutive years.

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