Optics Valley, the cradle of star startups

Attracting talent

In 2009, they launched the 3551 Optics Valley Talent Scheme to offer funding for potential startups, with 1,699 individuals benefiting so far.

Wuhan, with a total of 83 universities, ranks second in the country behind only Beijing when it comes to higher education institutions, providing a large talent pool for corporations in Optics Valley. In 2017, the city government created special subsidies to encourage university graduates to work in Wuhan.

Optics Valley now boasts a population of 1.79 million and 70 percent are below the age of 35, making them the backbone of the workforce. Last year, the percentage of those with an associate degree and above level living in the valley was 81.6 percent, an increase of 26 percent compared with 2008.

"Young people are the future of the city's development," Zeng said.

"A cluster of young talent will reshape the city's spirit, culture and image, attracting more and more talent from other places. We're more than happy to assist them in all aspects in their entrepreneurship."

She said pioneering companies in Optics Valley share several things in common.

"These entrepreneurs are ambitious and have strong nerves to risk the danger of possible failure in startups. Their corporations have core competence that makes them stand out, with steady management and good use of capital."

Eyes on the prize

Optics Valley has witnessed the development of advanced technologies in different fields.

Wuhan Homsh Technology is a manufacturer of high-tech chips for iris recognition equipment.

"Iris recognition is suitable for application in public security and security checks at border areas, with advantages in efficiency and accuracy when compared with other biometric data such as fingerprints," said Yi Kaijun, the founder of the company.

Iris recognition technology is utilized mainly in anti-terrorism and identity collection overseas. India includes iris scans in its national biometric identity system.

Yi said since the 9/11 terrorist attacks in 2001 in New York, iris scans have been used widely at airports and border checkpoints in foreign countries. The US and the Middle East have their own iris databases.