Huazhong University of Science and Technology's Junshan campus in WEDZ. [Photo/WeChat account: whkfq]
Wuhan Economic & Technological Development Zone (WEDZ) is undergoing a remarkable industrial transformation, with the added value of high-tech industries above the designated size accounting for 46 percent of its GDP in 2024.
This transformation is primarily driven by the zone's commitment to an innovation-led development philosophy. WEDZ has optimized the allocation of inventive resources, facilitated concept validation and pilot maturation, and established innovation platforms to support these efforts.
The zone has developed a growth chain for technological enterprises, supporting the evolution of small and medium-sized tech enterprises, high-tech enterprises, "gazelle" companies, and "unicorn" companies. By 2024, the number of high-tech enterprises in the zone had exceeded 2,000, reflecting a fourfold increase over the previous three years.
To expedite the transformation of scientific achievements, WEDZ has collaborated with universities and research institutes to establish pilot platforms. In 2022, WEDZ and Huazhong University of Science and Technology launched a pilot transformation base focusing on high-performance titanium alloys, solid-state batteries, and additive manufacturing.
Authorities also set up a 1 billion yuan ($139.56 million) Technology Innovation Investment Fund in June to address the financing challenges faced by tech SMEs, accelerating the transition of scientific achievements from laboratory to production line.
WEDZ has established 28 innovation and entrepreneurship incubation carriers, guiding universities and enterprises to localize original achievements. This has created an integrated "industry-academia-research-application" platform system, bridging innovative resources with industrial demand.
