Grand neoBay eyes global innovation hub by 2035
Print Edition
The Grand neoBay Sci-tech Innovation Park in Minhang District will become a world leading sci-tech area by 2035, according to a general blueprint released by the Shanghai government on February 27.
By the end of 2023, the number of high-tech companies in the bay area will exceed 600. Among them more than 70 will be firms valued at hundreds of millions of yuan or more.
By 2025 the park will house more than 1,000 high-tech companies, with a regional output scale exceeding hundreds of billions of yuan.
By 2035 its original innovation capacity will develop tremendously, and the area will be able to yield a batch of global advanced and leading technologies, the plan notes.
Construction of the Grand neoBay was initiated in the northwest corner adjacent to Shanghai Jiao Tong University’s Minhang campus in 2015. It gradually took shape to become the 17-square-kilometer area that encircles Shanghai Jiao Tong University and East China Normal University minhang campuses.
It also houses more than 10 aviation, aerospace and shipping research institutions, and around 20 national key labs and sci-tech platforms.
About 3,000 hard technology companies have settled in the bay, and there are 600 companies founded by faculties, students and alumni of Shanghai Jiao Tong University.
“The Grand neoBay somehow came about when both the city and the university developed to a certain level,” said Ding Kuiling, president of Shanghai Jiao Tong University.
To help fulfill the blueprint of the Grand neoBay, the district will focus on cultivating high-end equipment, biomedicine and artificial intelligence industrial clusters, while allocating intellectual property, market supervision, taxing and talent resources to offer one-stop sci-tech innovation services.
It will initiate a Grand neoBay finance league to set up a 30-billion-yuan (US$4.36 billion) foundation in addition to its 1.5-billion-yuan Grand neoBay special fund.
In addition, the area will be developed into an open science innovation block. It’s estimated that over 5,000 suites of apartments will be constructed in the next three years to accommodate a soaring number of talent. Basic educational facilities will be constructed jointly with the two universities, and a research-oriented hospital will be set up.
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