(Yicai Global) July 8 -- Venture capital firm Sequoia Capital China opened its first digital intelligent industry incubation center in Shanghai’s Zhangjiang Hi-Tech Park today, ahead of the World Artificial Intelligence Conference which kicks off tomorrow, online news outlet The Paper reported.

The incubation center aims to provide support for industry startups in development, resource linking and industrial collaboration and in this way promote the construction of the city’s AI sector.

Six Sequoia-funded startups are located in the incubation center, said founder and Managing Partner Shen Nanpeng. They work in areas such as AI chips, information security, smart manufacturing, smart sales and edge computing. Some of these startups were formed just last year, he added.

Set up in 2005, Silicon Valley-based Sequoia Capital’s China unit has invested in over 500 Chinese tech startups so far including e-commerce giant Alibaba Group Holding, fintech titan Ant Financial Services Group, ride-hailing platform Didi Chuxing and electric car maker Nio.

Editor: Kim Taylor