Zhongguancun Inno Way, a startup street in Bejing, has incubated 1,900 startup teams in the past three years, with 1.7 projects each day on average.

Nearly 40 percent of all the startups have raised funds, totaling 9.104 billion yuan (US$1.34 billion). Two companies are estimated to be worth US$1 billion individually.

The innovative capability of the startups on the Inno Way has increased over the years and come to radiate the entire country. Leading startup service providers in China like 36Kr, 3W and Dark Horse Club have organized a slew of exchange events to connect tech professionals and companies.

The Inno Way has also attracted international innovation resources. More innovation projects and talents from overseas are gathering here through on-site and online incubation. Five international enterprises and organizations -- iNETPLUS Venture Capital Funds from Canada, Deep Blue Project of China National Offshore Oil Corporation (CNOOC), VITRUV, I'm Cloud and TNDN from South Korea -- settled on the Inno Way recently. A total of 222 teams on the Inno Way are composed of people who come from or have studied in countries outside China. The street aims at serving 5,000 international startups, according to its manager.

Besides small and micro enterprises, big companies are also eyeing the innovation hub. Zhongguancun Inno Way launched a global recruitment plan for big companies days ago, which will enable state-owned enterprises and big companies like Haier, CNOOC and Beijing Foreign Enterprise Service Group Co., Ltd to seek for innovative ideas and solutions here.

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