Zhejiang Jingying E-Commerce Industrial Park in Jinhua, East China's Zhejiang province, was designated a national technology business incubator, the Ministry of Science and Technology announced on May 29.
One hundred and ninety-four industrial parks in the country received the designation.
The park, which provides capital investment and financing as well as talent services, has nurtured more than 50 national and provincial high-tech enterprises over the past seven years.
It is currently home to 180 enterprises and 1,500 young entrepreneurs, and is playing a significant role in bolstering the city's technological innovation services and digital economy, said a local official.
The technology business incubator, also known as the high-tech enterprise service center, aims to provide shared facilities for research and development, manufacturing, as well as provide services related to policies, management, law, and financing.
The technology business incubator is designed to reduce the risks and costs of starting businesses and increase the success rate of entrepreneurship.
Jinhua has in recent years implemented a series of measures, including rolling out management guidelines and action plans, and is currently home to five national technology business incubators.
