Start-up companies thrive in Shandong high-tech zone

Weihai Shengyang Medical Technology Co Ltd – founded by 30-year-old entrepreneur Cong Haichen in March 2022 – has rapidly emerged as a leader in technological innovation.

That's within the science and technology enterprise incubation park in the Weihai Torch High-Tech Industry Development Zone, located in Weihai city in East China's Shandong province.

The company's focus on developing high-tech products is said to be evident in its offerings. That's particularly in a lightweight, highly effective upper limb fixation device and a compact, strong carbon fiber external fixation product, offered at a far lower cost than foreign competitors.

The success has been attributed to the supportive innovation ecosystem and policies of the incubation park. According to Cong, the park has provided crucial support in a rent reduction, entrepreneurship training and financial assistance – fostering an environment that allows the company to wholly dedicate itself to research and development.

Moreover, the park has kept fine-tuning its policies based on feedback from tenant businesses and promoted the establishment of industry alliances to help solve the challenges faced by businesses.

Currently, the incubation park is home to over 600 incubated companies with an annual output value of 440 million yuan ($60.32 million) – standing as a beacon for young entrepreneurs and guiding the industry's development from startup to success. (Edited by Zhou Yunlai)

The Weihai Torch High-Tech Industry Development Zone welcomes start-up companies to explore opportunities and foster development in the vibrant environment. [Photo by Gao Xin for chinadaily.com.cn]