Beijing, August 25, 2024, The Europe Today: HICOOL, the dynamic startup ecosystem established in Beijing in 2020, is celebrating a milestone achievement as it realizes its initial vision of becoming a global hub for entrepreneurial talent and technological innovation.
Over the past five years, HICOOL has significantly impacted the entrepreneurial landscape by nurturing 16 unicorn companies and supporting 127 enterprises specializing in advanced technologies and innovative products. The initiative has attracted a diverse pool of 32,000 entrepreneurial individuals and 24,000 projects from 145 countries and regions worldwide.
HICOOL’s success underscores Beijing’s aspiration to establish itself as an international science and technology innovation center and a high-level talent hub. The ecosystem has become a magnet for global entrepreneurs, reinforcing the Chinese capital’s growing influence in the global innovation arena.
One notable success story is Agile Robots, a Munich-based unicorn that emerged from HICOOL’s 2022 Global Entrepreneurship Competition. The company, bolstered by support from Beijing’s government agencies, has established a cutting-edge factory in Shunyi District, covering nearly 5,300 square meters. Agile Robots has transformed from a small team of over 10 to a globally recognized high-tech enterprise, boasting over 2,800 employees, a market valuation exceeding $3.5 billion, and annual sales surpassing 1 billion yuan (approximately $140 million). The company holds over 100 patents and has achieved significant advancements in independent research and development.
The HICOOL 2024 Global Entrepreneur Summit, held from August 23 to 25, highlighted the theme of new quality productive forces. The summit served as a pivotal platform for empowering technology-based startups and fostering innovation through value creation. This year’s competition attracted 9,700 exceptional participants and 7,406 entrepreneurship projects from 124 countries and regions, with international projects representing 63% of the total entries.
Zhang Xujia, founder of QL Biopharm and a first prize winner, praised Beijing’s vibrant and innovative environment. His company, specializing in recombinant protein drugs using Escherichia coli, has established itself in the Zhongguancun Life Science Park, leading global advancements in biopharmaceuticals for chronic metabolic diseases. Zhang emphasized the importance of innovation, citing the significant increase in accessibility to life-saving cancer drugs as a testament to the impact of entrepreneurship.
Rafael Suchan, a German entrepreneur and founder of Vastalta Circular Technology (Beijing) Co., Ltd., received third prize and lauded China’s inclusive and open innovation ecosystem. He highlighted the strategic advantages of bridging German engineering expertise with China’s vast market potential, expressing enthusiasm for contributing to Beijing’s circular economy.
Wang Xiaodong, founder of BeiGene, underscored the transformative power of entrepreneurship. He shared a compelling statistic: the number of people in China who can afford specific cancer drugs has surged from around 10,000 to 1 million, thanks to the rise of homegrown companies like his.
As HICOOL celebrates its achievements, it continues to reinforce Beijing’s position as a leading center for global innovation and entrepreneurial excellence.
