Let's take a look at Puyue China's incubation strategy and build an open innovation platform
Plug and Play, founded in 1998, is one of the earliest foreign excellent incubators known to domestic incubators. In 2016, Plug and Play officially launched its business in China, establishing Puyue China and successively establishing innovation centers in Beijing, Shanghai, and Shenzhen.
The Puyue China Yangtze River Delta Regional Innovation Center, located on Dangui Road in Zhangjiang Science City, is the largest single national level innovation carrier for collaborative spaces in Shanghai. As of the end of 2022, there have been nearly 90 physical incubation enterprises here, and the projects have received financing of over 400 million yuan; We have accelerated over 700 scientific and technological innovation projects in the Yangtze River Delta region, and jointly produced over 130 concept validation results with large enterprises and leading companies.
Following the model of open innovation in foreign countries, the Puyue China Yangtze River Delta Regional Innovation Center, located in Zhangjiang Science City, collaborates with leading enterprises while establishing a wide and high-density community of entrepreneurs, fully leveraging the unique platform role of incubators to carry out collaborative innovation with enterprises as the main body.
Xu Jieping, CEO, Managing Partner, and Executive Director of Puyue China, introduced: "We have made many adjustments in our cooperation content, from single point innovation to collaborative innovation and then to urban innovation." Puyue China's initial cooperation with large enterprises was through single point innovation, which involved technical docking with a large enterprise on a specific innovation demand.
Then, Puyue China collaborates with large enterprises to adopt a collaborative innovation model, which involves collaborating with multiple large enterprises with innovative collaborative needs to carry out acceleration campaigns on future technological trends in a certain field, selecting forward-looking technology startups, and promoting industrial integration and technological innovation in a coordinated manner.
![Let's take a look at Puyue China's incubation strategy and build an open innovation platform](https://a5qu.com/upload/images/fd2fcd20e763ea3fa8e91c1c5c047640.jpg)
Relying on the gathered innovative enterprise community, Puyue China further collaborates with local governments to deepen cooperation in international incubation, integration of large, medium and small enterprises, and early investment. This has also been categorized as an "urban innovation" model by Puyue China and promoted to other cities of Plug and Play abroad.
At present, Puyue China has served nearly 80 industry-leading enterprises in China, distributed in 10 innovative frontier tracks. The cooperation models include demand docking, concept verification, acceleration camp, and co construction of innovation centers. Puyue China focuses on industries such as mobile transportation, smart cities, green sustainability, general intelligence and metaverse, and industrial digitization.
In addition, Puyue China is rooted in Zhangjiang, collaborating with excellent universities and institutions such as Shanghai Jiao Tong University, Fudan University, Tongji University, and Shanghai University of Science and Technology to actively promote the transformation of scientific research achievements into the market, explore investment targets, and build a cooperation bridge between large enterprise partners and universities and institutions, promoting the integration of industry, academia, and research innovation.
In the view of Puyue China, offline space and innovation by large enterprises are its two front-end businesses. The core lies in forming a funnel effect, maximizing the gathering of entrepreneurs, and further verifying the strength of entrepreneurial projects through the industrial resources and scenarios provided by innovation by large enterprises, in order to select the best projects for investment.
"Entrepreneurs give us a lot of kinetic energy to think, and the entrepreneurial spirit of failure continues to inspire us. We believe that technology is flourishing in all dimensions and can feed back every corner of society. Building an innovative ecosystem requires joint efforts from all parties, which is very difficult, but doing difficult things is more meaningful," said Xu Jieping.
![Let's take a look at Puyue China's incubation strategy and build an open innovation platform](https://a5qu.com/upload/images/4b0f4c7f4fcfc831e9fc15910ed01c5b.jpg)
Text: Sun Lu
Data: District Science and Technology Promotion Center
*Reprinted from official WeChat account released by Pudong