Over the past four years, Zhongguancun Inno Way, a street in Beijing's Haidian district dedicated to startup businesses, has incubated 2,921 startup teams, of which 355 include team members who are foreign expats or have overseas backgrounds, according to media reports. Altogether 1,038, or 35.5 percent, of the teams have successfully raised funds, totaling 27.78 billion yuan (US$4.34 billion).

In the first half of this year alone, 45 incubators along the street provided services to 462 new startup teams, of which 40 have team members who are foreign expats or have overseas backgrounds. In the meantime, 133 teams have raised funds totaling 13.6 billion yuan.

Located in the core area of Zhongguancun that harbors abundant resources for innovation and startup businesses, the Inno Way is an international platform that proactively propels innovation in a variety of industries and invites cooperation among enterprises, universities, investors, startup services, and entrepreneurs from all over the world.

As a landmark of innovation and startup business in China, the Inno Way is run by a young yet knowledgeable and professional team. Members from countries like Germany and Italy have brought the team more international diversity.

In 2017, the Inno Way set up China's first international innovation community and accommodated over 400 international projects. Thirteen enterprises from the U.S., Switzerland, and other countries and regions opened branches on the Inno Way. Agencies such as the Beijing-Hong Kong-Macau Innovation Center, the California-Beijing Innovation Center, and the China-Switzerland Innovation Center were established to serve innovative and startup businesses.

Nie Lixia, general manager of the Inno Way, said that they will keep revolving around industrial innovation and global innovation, and continue to integrate innovation resources for a better platform that powers the upgrade of industries and development of real economies.

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