OVC firms included in provincial cultivation plan
CICT's headquarters [Photo/WeChat account of Optics Valley of China]
Nine companies based in Wuhan were selected among the 11 major provincial technology enterprises for future cultivation, according to news from the Department of Science and Technology of Hubei Province.
Five out of the nine firms are located in the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC), including China Information Communication Technologies Group Corporation (CICT), Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC), TCL China Star Optoelectronics Technology Co, and HGTECH Co.
TCL boasted a research investment of 2.5 billion yuan ($393.25 million) last year, and its PCT application ranks 32rd globally. YOFC has been the world's biggest manufacturer of optical fibers, optical cables, and optical fiber preforms for six years in a row, and has established more than 40 overseas offices. HGTECH has handsome market shares in optical module and laser cutting equipment both at home and abroad.
Leading technology enterprises are highly aware of the mission to achieve technological self-reliance, have specific technological innovation strategies and full-fledged organization systems, invest consistently in technological innovations, and act as pioneers in core areas.
Wuhan's innovative entities can be divided into four categories – technological enterprises, enterprises with patents, high-tech enterprises, and major technological enterprises, with the last sitting atop the pyramid.
According to major technological enterprise assessment requirements, a qualified firm must record over 5 billion yuan in annual sales, spend more than 3 percent of its total expenditures on R&D, with the proportion of researchers exceeding 10 percent, and have at least 100 core items with intellectual property right (IPR) protection.