Shanghai wants to be the king of tech innovation

6/5/2018 7:32:18 AM

Shanghai is polishing up its image as an international tech innovation magnet, as Google has chosen Shanghai to hold Demo Day. At this event, Chinese startups pitch top investment and venture capital firms. Shanghai has no less than 500 incubation spaces, where 12,000 startups with 380,000 employees develop new solutions and products.

Shanghai Daily takes a look at Shanghai’s innovation potential and image. It reports that the city has its unique advantages “like many incubation spaces, rich talent pool, huge investment to upgrade technology and advanced information infrastructure covering digitalized daily life and public services.”

The local government expects a business boom from new technologies like artificial intelligence, the Internet of Things and cloud computing. Shanghai is portrayed as one of the most internationalised cities in China. In 2017, 81,000 work permits were granted to foreigners in Shanghai, ranking No. 1 nationwide. Over 215,000 foreigners work in Shanghai. According to the Shanghai mayor, the city is home to one-third of the AI professionals nationwide, thanks to talent pool and potential AI development.

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