The Jiangyan Hi-tech Zone Modern Science and Technology Industrial Park – located in the city of Taizhou in East China's Jiangsu province – is combining forces with a university in the province to launch a research institute in artificial intelligence.
Senior officials from the zone signed an agreement with the School of Artificial Intelligence at Nanjing Normal University, located in Jiangsu, to establish the AI facility.
In a parallel move, an agreement was also signed on the day with Suzhou Nanjing Normal University Science Park Investment Management Co Ltd to co-manage the Jiangyan High-tech Zone Medical Device Industrial Park.
The School of Artificial Intelligence of Nanjing Normal University is renowned for its groundbreaking achievements in various sectors – including machine learning and pattern recognition, big data mining and applications, natural language processing and software engineering.
Under the agreement, the newly established AI research institute will commence with an initial registered capital of 3.5 million yuan ($481,219).
The Jiangyan High-tech Zone will prioritize the institute as a key supported entity, offering dedicated financial support. The institute is set to spearhead applied technological research and help drive the commercialization of research outcomes in the high-tech zone.
Meanwhile, the Medical Device Industrial Park will focus on the research, development and production of innovative medical devices and new medical materials.
The park plans to build office buildings and production plants, attract business enterprises to set up operations there and provide financial incentives to foster growth.