An aerial panorama depicts Wuhan Future City in Optics Valley. [Photo/cjw.cn]

As a national intellectual property (IP) service industry cluster development demonstration zone, the East Lake High-tech Development Zone -- also known as Optics Valley of China and located in Wuhan, capital city of Central China's Hubei province -- has become a powerful magnet for new IP ventures.

Some 342 IP service institutions of various types have settled there, according to local media reports on Dec 5.

These IP service institutions, with more than 4,000 employees, are mainly involved in traditional patent services, consulting services, legal services, information services, training services and commercialization.

Among them, there are eight brand renowned institutions and three large internet + IP new service institutions.

In March 2019, the China National Intellectual Property Administration approved the construction of Optics Valley as a national IP service industry cluster development demonstration area, with a demonstration period of three years.

From the first quarter to the third quarter of 2020, the zone has continued to accelerate its development as a demonstration zone and striven to improve its IP service capabilities.

In addition to the establishment of some local IP service institutions, the zone has also actively lobbied for top IP service institutions to settle there. In the process, it has become the second headquarters for some top IP service institutions.

In 2020, the second headquarters of Purplevine IP Group -- the first leading and internationally oriented IP services provider there -- settled in the zone's Future City.

It is expected that its unit -- Purplevine IP Management (Wuhan) Co Ltd -- in Optics Valley will attract more than 150 high-end international IP service experts through global open recruitment in the current year.