(Yicai Global) March 28 -- The government of Jiashan county,  located in China's eastern Zhejiang province, will establish an  international innovation hub in the neighboring municipality of Shanghai  with the aim of attracting more science and technology players. 

The county is also promoting the deeper integration of (among)  cities in this region, according to a statement from local authorities.

The local government will build the innovation hub at Shanghai's  Hongqiao World Center, close to the National Exhibition and Convention  Center where last year's inaugural China International Import Expo took  place. 

The hub aims to entice local firms with technologies to set up  research and development enclaves and fully exploit Shanghai's  advantages in terms of high-end talents and scientific research  institutes, the government said.

It is hoped that high-quality start-up projects in Shanghai or from  overseas will set up shop at the hub. The government will assist  companies in growing via political support and transfer them to Jiashan  for industrialized development after completion of the incubation  process. It will also attract agencies and venture capital investors to  the hub to provide entrepreneurs with one-stop services related to  corporate training, roadshows, business angels and listings in an effort  to build a high-quality incubation platform for startups.

County authorities also aim to attract talents from all over the  world via this platform and through hosting entrepreneurship  competitions and many other events.

Many institutions and firms such as Shanghai University's Composite  Materials Research Center, Switzerland's Nihub Innovation Center,  Israel's StartupEast, Tuya Tech and DT Wave have inked deals to settle  in the hub at a ceremony yesterday. 

Tuya Tech is a global platform for artificial intelligence and  Internet of Things with a valuation of over CNY10 billion (USD1.5  billion). DTWave is a firm dedicated to the application of Big Data and  has garnered investment from YF Capital, IDG Capital, Hongtai Capital  Holdings among other well-known investors.

Editor: William Clegg