Huangpu tops Guangzhou in number of unicorn companies

The 2021 list of Guangzhou innovative unicorn companies was released by the Guangzhou Association for Innovation and Technology on Feb 28, with 63 companies from Huangpu making the list.

A total of 139 Guangzhou companies made the list and over half of them were from Huangpu, making Huangpu top all districts in the city in terms of the number of unicorn companies. 

The 2021 list of Guangzhou innovative unicorn companies is released by the Guangzhou Association for Innovation and Technology on Feb 28.

Unicorn companies are pre-IPO startups with at least $1 billion in market value. Companies with a market value of at least $100 million are potential unicorns, while those with cutting-edge or game-changing technologies are seeded unicorns.

The WeRide Robotaxi autonomous driving start-up joint venture, Guangzhou CanSemi Technology, and Aulton New Energy Automotive Technology were listed as innovative unicorns, while 24 others, including Guangzhou Yunxi Technology, were named future innovative unicorns. Thirteen companies, such as Guangzhou Yuxin Electronic Technology, were named seeded unicorns. 

Huangpu has been devoting continuous efforts to bolstering innovation and improving the cultivation of technology companies.

To date, Huangpu has been home to over 2,700 technological small and medium-sized enterprises, over 2,200 national hi-tech companies, as well as more than 400 gazelle companies. It has also launched measures to support companies realize breakthroughs in core technologies.

Huangpu's research and development intensity was 5.71 percent, meeting the global leading level. 

Huangpu has formulated the largest incubation cluster for technological companies in South China. It boasts 63 maker spaces, including 11 national-level incubators, as well as seven accelerators, of which two are at or above the provincial level. 

The district has been a pioneer in China in terms of financial support, with one-time rewards of up to 5 million yuan ($792,154) available for companies that have been recognized as unicorns and companies able to receive up to 9 million yuan in subsidies in a year.            

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