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An aerial view of Dongsheng Huigu Entrepreneurship Park in Shaoxing, East China's Zhejiang province. [Photo/Zhejiang Daily]

Thirteen privately owned incubation parks that are expected to draw 7.1 billion yuan ($1.01) in investments are now operating in Shaoxing, according to local authorities on Sept 20.

These private incubation parks are bringing in high-tech projects from home and abroad. More than 240 such projects have been set up in these parks.

These projects can generate more than 200 million yuan in annual business output. More than 85 percent of these projects are related to emerging industries.

The Dongsheng Huigu Entrepreneurship Park, an industrial park built with private capital, is now home to nearly 40 projects involving new materials, biological medicine and medical services.

Some of these projects were awarded at previous innovation competitions before they were introduced to the park. Among these projects is the intelligent light-adjustable glass manufacturing facility by Shaoxing Difei New Materials Co Ltd.

According to Wang Pengfei, the CEO of Shaoxing Difei New Materials, many well-known car makers and glass manufacturers have approached the company and expressed an interest in forging cooperative ties.

The local government of Shaoxing has encouraged private firms to step up measures to introduce skilled workers and innovation projects. Private firms that invest in building industrial parks can receive up to 5 million yuan in cash incentives.