One of eight OVC Potential Star companies receives financing support on Sept 13. [Photo/WeChat account of Optics Valley of China]

On Sept 13, eight high-tech companies based in the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC) were listed as OVC Potential Stars. The title is given to small and medium-sized enterprises (SMEs) with strong technological innovation capabilities and huge growth potential.

It selects high-quality enterprises, integrates financial resources such as funds, venture capital, and guarantees, and provides services for investment and financing, enriching the scientific and technological innovation financial service system of Wuhan New City.

These companies are all high-tech companies with core technologies spanning industries such as optoelectronic information, life and health, and BeiDou +.

During the event, the selected companies carried out project roadshows and were matched with investment and financing institutions. Wuhan Guanggu Technology Financing Guarantee Co signed contracts with two companies – Wuhan Yuanqi Technology Co and Wuhan Huaxin Data System Co, providing financial support of up to 20 million yuan ($2.79 million) per transaction to the enterprises.

OVC is currently home to more than 1,500 scientific and technological innovation financial institutions, including 30 technology-oriented bank branches, with a total deposit and loan scale of over 650 billion yuan and a growth rate of 14.31 percent in the first half of the year.

There are now 62 listed companies in the valley with a total market value exceeding 500 billion yuan.