Shanghai inaugurated the Zhangjiang AI Innovation Town on Sept 16, setting its sights on building a world-class artificial intelligence hub with low innovation costs and a dense concentration of AI companies.

The 2-square-kilometer town sits at the core of Zhangjiang Science City in Pudong New Area, one of Shanghai’s leading AI innovation zones.

It offers affordable entrepreneurial spaces, with rents as low as 1 yuan ($0.14) per square meter per day, along with free short-term accommodation. Young professionals can also apply for subsidized apartments for up to three years.

To strengthen research and development, the town issues vouchers for computing power, AI models, and data sets, subsidizing up to 100 percent of costs, with a maximum of 1 million yuan per category.

Additional subsidies support demonstration application scenarios and large model registration.

Twenty companies, including Intellifusion and Intokentech, have established operations within the new town.

By 2027, it aims to attract over 500 companies, register 100 large models, and cultivate three to five globally competitive enterprises.

Looking ahead to 2030, the town is projected to host 1,000 AI firms, creating a 100-billion-yuan industry and building itself into a globally influential center for AI innovation.

Source: Shanghai Observer