Chengdu, a new cradle for unicorn enterprises



The Chengdu High-Tech Industrial Development Zone (CDHT) is to set up an investment fund of 10 billion yuan ($1.57 billion) and a gradient cultivation system as part of its efforts to build a cradle for unicorn enterprises, according to a news conference held by the zone on May 18.
According to a plan released at the conference, the CDHT will adopt a precision policy for enterprises in different development phases, providing them with overall services and support in policy, finance and talent cultivation.
The CDHT now embraces a large number of unicorn enterprises and potentials, such as the TD-Tech, biotech company Revotek and intelligent micro-projector developer XGimi Technology Co., Ltd.
A director of the CDHT disclosed that they plan to cultivate at least three unicorn enterprises this year, as well as 1,000 seed enterprises, 100 gazelle enterprises, 10 unicorn enterprises and 3 leading enterprises within the next three years.
The number of unicorn enterprises in China reached 164 by the end of 2017, with a total estimated value of $628.4 billion. Among the enterprises, 125 are in national high-tech zones, accounting for 76.2 percent of the total.
(source:, May 18, 2018)

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