GUI event spurs Anhui's tech innovation

The recent Grand Union of Innovation Frontier Dialogue, its seventh session, kicked off in the Zhong'an Chuanggu Technology Park – located in the Hefei National High-tech Industry Development Zone in Hefei city, in East China's Anhui province – on Aug 23.

Grand Union of Innovation industrial park, which was founded last year, is located in the zone. It rolled out the dialogue as a platform for the commercialization of innovative achievements, the incubation of tech startups and the optimization of mechanisms for innovation.   

The opening keynote speech was given by Xu Siqing, a founding partner of the Alpha Startups Fund and one of the pioneers behind the Grand Union of Innovation industrial park.

Xu's presentation covered various topics, including the current state of technology investment in China and the United States, the ever-changing technology landscape and the opportunities arising from artificial intelligence.

What set this event apart was its emphasis on the crucial role of alumni networks in fostering innovation and entrepreneurship. According to Xu, this commitment aligns seamlessly with the vision of the Grand Union of Innovation.

By combining the alumni and research strengths of top universities – like the University of Science and Technology of China – with the innovation resources in the entire province, the industrial park has created a thriving innovation ecosystem. This is widely said to help attract a wide range of global innovation resources.

Moreover, the Grand Union of Innovation industrial park has increased its efforts to amass capital and encourage two-way growth in science and technology finance.

Last year, it established a fund worth 30 billion yuan ($4.1 billion) to support emerging sectors such as AI and integrated circuits.

Meanwhile, the industrial park has unveiled a series of financial products – including credit loans for early-stage science and technology companies in the province.

The ultimate goal is to boost the development of Hefei's pilot financial reform zone for scientific and technological innovation.