The China-Israel Innovation Hub (Shanghai) is making great progress with 10 companies and institutions signing up to become the first batch of occupants.
The hub, located at the erstwhile plant site of the time-honored local brand HERO Pen in Putuo District, will be gradually developed in three phases to boost bilateral cooperation between China and Israel on innovation, startup incubation and outcome transfer.
It will attract colleges, scientific research institutions and companies from Israel.
High-end talent apartments and rental housing are available.
“There are many innovation centers and incubators in Israel and the hub serves as a perfect platform for them to transfer their advantage and capital to combine with Chinese industries,” said Nixon, president and CEO of Beijing Kunzhi Technology Development Co Ltd, an enterprise already settled in the hub.
Unlike other innovation industrial parks, the hub has also opened a branch in Haifa, Israel, to spark the development of domestic enterprises there.
A first round of investment fund, totaling 1 billion yuan (U$145 million), has been set up at the same time to support startups in the preliminary period.