Huangpu steps up high-growth enterprise cultivation

A summit on the unicorn enterprises (companies having a market value of at least $1 billion before going public) in Guangzhou's Huangpu district was held on Aug 18 in which a new service mechanism for gazelle (high-growth) enterprises was released.

The establishment of the new service mechanism was initiated by the Huangpu science and technology bureau. National investment and financing matchmaking activities and entrepreneur exchange meetings will be organized for gazelle enterprises relying on the domestic resources provided by Great Wall Strategy Consultants.

WeRide, China's leading level 4 autonomous driving company, enters the national list of unicorns in 2020.

In addition, an information platform for enterprise "innovation points" will be launched. Enterprises with higher innovation points will be entitled to more supportive policies.

Wu Wensheng, general manager of Great Wall Strategy Consultants, shared his insights on how gazelle and unicorn enterprises lead the development of the new economy in Huangpu during the event. Entrepreneurs from Lupeng Pharmaceutical and V-Solution Telecommunication Technology also shared their development stories in the district.

Huangpu has conducted the cultivation of gazelle enterprises for eight consecutive years, and the screening of unicorn enterprises for four years. As of now, the district has recognized more than 20 unicorn enterprises and potential unicorn enterprises. The number of gazelle enterprises also increased from 122 in 2013 to 413 in 2020.

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