(Yicai) May 9 -- The founder of Chinese humanoid robotics startup AgiBot and a number of other successful young entrepreneurs will gather at the 6th Shanghai Y50 Forum for Innovation and Entrepreneurship, that kicks off tomorrow, to showcase their latest innovations and explore financing opportunities.

Peng Zhihui set up Shanghai-based AgiBot in 2023 after leaving tech giant Huawei Technologies. The impressive line up of startup founders also includes Li Yijia, founder of biotech firm Ximaisi Biopharmaceutical, Cao Xuanye, who runs life sciences startup Villanelle Life, and Xia Lixue, founder of artificial intelligence company Infinigence AI.

For the first time, there will be a ‘Shanghai Youth Science and Technology Innovation Carnival’ at the forum to explore new forms of co-operation between investors and young startups. Some 15 projects have been selected to pitch live at the event, to help them connect with investors, industry experts and major companies to find funding and strategic partners, Yicai learned at a recent press briefing.

“I chose to start my company in Shanghai mainly because of its abundant medical, scientific and academic resources,” Li said. “Our office is very close to Fudan University, one of China’s top universities, which makes it easy to exchange information and work together.”

The Shanghai Foundation Model Innovation Center, where Infinigence AI is located, is China’s first AI-focused startup community. There are now more than 1,000 AI experts working in the space, nearly a third of whom are under the age of 28, said Zhang Ying, director of the Shanghai Municipal Commission of Economy and Information Technology.

“No AI company in the community is isolated, we all find ways to connect with each other here,” Xia said. Shanghai is building a world-class AI ecosystem, through policy guidance, industry chain layout, computing power support, talent pools and access to capital, he added.

Shanghai has been welcoming top talent through talent introduction and startup-friendly policies in recent years. Over 800,000 people now work in the city’s three leading industries of semiconductors, biomedicine and AI, according to official data.

Editor: Kim Taylor