A high-tech enterprise accelerator was unveiled at a forum held at Caohejing on October 23 to celebrate the 20th anniversary of the park's innovation.

Present at the forum were Sui Zhiqiang, senior official from the Torch Center under the Ministry of Science and Technology, Cheng Xiangmin, deputy director of Minhang district government, and Caohejing senior managers Liu Jiaping, Da Runiu, Chen Qingzhou and Gui Enliang.

Liu, general manager of Caohejing High-Tech Park Development Corporation, made a speech.

The accelerator serves fast-growing enterprises which use the innovation model to meet their demand for improvement of development space, management, service and co-operation, said Liu.

The accelerator also provides professional and marketing services for fast-growing enterprises in terms of investment, consultation on finance and management, and being listed.

"Caohejing has formed an innovation service system which consists of an enterprise incubator, an enterprise accelerator and an innovation base," he said.

It has led the nation to practice a pan-incubation innovation model which can use an equation of “1+X”.

One stands for the incubation service and X refers to technology transfer, project incubation, enterprise incubation, enterprise accelerator, industry promotion and industry transfer.

"After two years of development, the high-tech enterprise accelerator at Caohejing Pujiang High-Tech Park has got onto the healthy track of fast development," Liu said.

The enterprise accelerator now has solar photovoltaic, bio-medicine and productive service industries to become its backbone.

It holds 26 fast-growing enterprises in the 45,000 square meters space, with a combined annual sale of 1 billion yuan. Their sales and profits have grown by more than 30 per cent.

Liu said the space of the accelerator is expected to expand to other areas in the park for further development.

In the past 20 years, Caohejing has persisted in its development model which combines industry with environment and innovation.

"With the model, it can further improve its business environment and expand its innovation service," he said.

Efforts have been made to upgrade incubators to enable the park to form its systematic, standard and international innovation service system, Liu said.

Caohejing Innovation Center has created a branded service system in the nationwide incubator field.

Officials from the China High-Tech Incubation Commission have confirmed the achievement Caohejing has made in the past 20 years and hope it to become a State-level self-innovation base which is able to turn technological results into products.