Work begins on East Lake International Innovation Center
An artist's impression of the East Lake International Innovation Center in Shanghai Innovation City.
Construction has begun on an international innovation center with a total investment of 1.9 billion yuan (US$266 million) in Jinshan District.
It is the first project in the local Shanghai Innovation City.
The East Lake International Innovation Center, co-built with the Wuhan East Lake High Technology Group, will occupy an area of about 98,667 square meters, highlighted by R&D labs and headquarters offices, mainly in sectors like new-generation information technology and biomedicine.
Construction began on Friday, and is set to be complete in 2027. Upon completion, it is expected to feature at least 150 technology companies, 30 headquarters and 10,000 talented personnel.
On the same day, construction of the second phase of a digital port project co-built with the China Academy of Science and Technology Development also began.
The project, with a total investment of 1.4 billion yuan, features scientific research, innovation incubation and apartments for talented personnel.
The first phase will open to the public in October, and the second phase in 2025.
Shanghai Innovation City is part of the Shanghai Innovation Bay that was opened in 2019 as an innovation hub focusing on life science, digital economy, and other frontier research.
According to the district government, the bay hopes to someday be on par with other renowned bay areas like those around Tokyo and San Francisco.
