Step-by-step shareholding, two steps of follow-up investment
On July 30th, Hangzhou Mayor Cai Qi, accompanied by Zhu Min, founder and president of the Zhejiang University International Innovation Research Institute, set off for Silicon Valley with the aim of examining the growth environment behind its status as a hub for high technology.
Hangzhou, where SMEs account for 70% of employment, is hoping to further establish itself as China's Silicon Valley.
Previously, Cai Qi had already expressed on multiple occasions that "In order for Hangzhou to create a 'Paradise Silicon Valley,' it must increase the concentration of entrepreneurial talent, venture capital institutions, and high-tech enterprises." In April this year, the Hangzhou municipal government issued the "Interim Measures for the Administration of the Hangzhou Entrepreneurial Investment Guidance Fund" and officially established the entrepreneurial investment guidance fund on April 14th, with Cai Qi also serving as the director of the Entrepreneurial Investment Guidance Fund Management Committee.