Macao-Hengqin Youth Entrepreneurship Valley (Inno Valley HQ) has incubated 433 projects during five years of operation -- 244 from Macao and Hong Kong -- while fostering 50 hi-tech enterprises and financing 30 enterprises with more than 500 million yuan ($71 million).

Wu Chuangwei, deputy director of the Hengqin New Area Administrative Committee, announced the statistics at the valley's 5th anniversary celebration, which was held concurrently with the Greater Bay Area Entrepreneurship Summit on June 29.

Golden stars are worn by 2020 Stars of Entrepreneurship on either side of two officials [Photo courtesy WeChat account: hq-mcvv]

At the summit, Jiang Haitao, founder of Zhuhai Chengmi Science & Technology, and Liu Tong, founder of Zhuhai Wobe Cross-Border E-commerce, were among 10 entrepreneurs granted 2020 Stars of Entrepreneurship Awards.

Located in the China (Guangdong) Pilot Free Trade Zone (FTZ) Hengqin Area, Inno Valley HQ is operated by Zhuhai Da Heng Qin Development. It attracts investment and talents from Hong Kong and Macao and incubates youth entrepreneurship projects.

Inno Valley has garnered more than 30 accolades including National Science & Technology Enterprise Incubator, National Maker Space, and Guangdong-Macao Youth Innovation & Entrepreneurship Base. It is to become a domestically renowned industrial park that demonstrates deepened Guangdong-Hong Kong-Macao cooperation with professional teams, market-oriented operation, and international standards.

Moreover, to support innovation and entrepreneurship among Macao youth, Hengqin has issued a series of preferential measures, sci-tech entrepreneurship competitions, and summer internship programs and job fairs for Macao university students. Innovation and reforms now optimize personnel customs clearance and improve the business environment and support urban facilities.