The construction of an incubator park within the USTC Silicon Valley in Hefei, the capital of East China's Anhui province, commenced on July 13.

An artist's impression of the incubator park in Hefei National High-tech Industry Development Zone. [Photo/WeChat ID: hefeigaoxinfabu]

Located within the Hefei National High-tech Industry Development Zone, the incubator park is expected to become a hub for scientific and technological innovation and the commercialization of high-tech achievements.

The project covers an area of about 276 mu (18.4 hectares) and represents an investment of approximately 5.53 billion yuan ($771.41 million).

The project is divided into two plots, east and west, which will be constructed in two phases. The first phase has already begun and is expected to be completed by February 2026, while the second phase is scheduled to start in October.

The incubator park will focus on various fields, including e-commerce, biomedical, integrated circuits, software development, and smart information services.

It aims to provide incubation and commercialization support for new R&D institutions, establish a centralized area for alumni business incubation and technology commercialization, and foster a regional industrial innovation ecosystem.

Once completed, the incubator park is projected to generate an annual output value of 3.75 billion yuan and a tax revenue of more than 300 million yuan.