Donghu High-Tech Development Zone (Optics Valley) in Wuhan, Hubei province recently topped the list of national innovation and entrepreneurship demonstration bases - along with Beijing, Shenzhen, Shanghai and Guangzhou - receiving rewards of 20 million yuan ($2.99 million).

Optics Valley was authorized by the State Council to establish the first regional innovation and entrepreneurship demonstration base in last May, with an investment of 500 million yuan.

Up to now, Optics Valley holds 55 incubators - 15 of which are at national level - covering an area of 4.5 million square meters with more than 4,500 companies.

From January to July this year, Optics Valley has attracted registration of 10,835 market entities, around 56 registrations on each weekday. They set up more than 270 technology innovation platforms at the provincial level or above.

To promote innovation and entrepreneurship, the zone launched a series of activities, organizing more than 50 activities and promoting over 600 projects in three years.

Primarily focusing on undergraduates, these startup projects attracted over 300 investment organizations and successfully financed 2 billion yuan for more than 70 projects. Special windows are also set up for undergraduates who come to work or start businesses in Optics Valley.

"Chu's Back Home" is one of the activities that was launched in 2012 to attract Hubei-born skilled workers come back to work or start up businesses. The past five years witnessed more than 10,000 people returning to Hubei province from other cities both locally and internationally. 

Optics Valley pioneered in new service industries including online live streaming, artificial intelligence and intelligent vehicles. Douyu, an online live streaming platform and Juanpi, an e-commerce platform, were both born here. 

Eight internet companies including Mobike and Ofo, the two largest bike-sharing industries, will establish headquarters or their second headquarters in Optics Valley, providing over 10,000 jobs. 

2018 marks the 30th anniversary of the founding of Optics Valley, and the zone will continue to carry out reforms and innovations in policies, services and environment, aiming to attract more entrepreneurs.

Optics Valley in Wuhan holds 55 incubators, 15 of which are at national level. [Photo/WeChat]

Optics Valley in Wuhan organizes a series of activities to promote innovation and entrepreneurship and attract skilled workers. [Photo/WeChat]

Mobike signs an agreement to establish a practice base for college and university students in Optics Valley. [Photo/WeChat]