By the end of September, the Grand Union of Innovation (GUI) located in the Hefei National High-tech Industry Development Zone had established nine innovation centers at locations including the Silicon Valley, Tokyo, Cambridge, Lyon, Beijing, and Hong Kong.

Aiming to connecting innovation resources worldwide, the GUI plans to recruit 80 high-tech teams from across the world as partners, and set up 40 innovation projects through a market-based operating mechanism.

The Grand Union of Innovation Service Platform Co., Ltd. [Photo/WeChat ID: hefeigaoxinfabu]

Launched in June 2022, the GUI focuses on achievement transformation of innovative technologies, incubation of innovative enterprises, development of innovative industries, as well as improvement of the innovation ecosystem.

Making good use of advantages brought by the University of Science and Technology of China, it is committed to gathering global innovation forces, and building a high-standard innovation valley in the Hefei high-tech zone.

In December 2022, the GUI set up a guidance fund managing 30 billion yuan ($4.14 billion). Driven by sub-funds and direct investment, the fund has expanded its capital and resources during the past two years, and has played an active role in gathering innovative resources, supporting project development, and attracting high-caliber experts and professionals. 

By the end of September, 1,725 innovative enterprises had been registered in the area of GUI, bringing the total number to more than 6,000. The area has attracted over 60,000 innovative and entrepreneurial personnel, and hosted 12 domestic and international innovation centers and more than 200 funds with a total volume of over 240 billion yuan ($33.13 billion).