A new report from China’s Ministry of Science and Technology (MST) points to a surge in the number of business incubation organisations in the country.
The “China Business Incubation Development Report 2019” (中国创业孵化发展报告2019) released by MST on 13 June indicates that as of the end of 2018 China was host to a total of 11,808 business incubation organisations.
These organisations included 4849 tech enterprise incubators, for a YoY rise of 19.2%, and 6959 hackerspaces, for a YoY rise of 21.3%.
According to the report the Yangtze River Delta region is host to China’s highest concentration of business incubation organisations with a total of 2601 hackerspaces and incubators in 2018, accounting for 22% of the nationwide total.
The Greater Bay Area of Hong Kong, Guangdong and Macau has emerged as a key area for high-level incubation, hosting two state-level business incubators in 2018 – the Hong Kong Science and Technology Park (香港科技公司) and the Macao Young Entrepreneur Incubation Center (澳门青年创业孵化中心).