How much value can an investment of 600 million yuan generate?

Through a "lever", the Tongxiang city has not only amplified the investment by nearly 4 times, but also brought back a group of "new stars". Minieye is one of them.

"Settling in Wuzhen is a very important milestone in my company’s development!" Standing on the north side of the Yunhe Avenue in Wuzhen Town, Liu Guoqing, co-founder of Minieye, looked at the land in front of him and imagined the intelligent manufacturing center for intelligent driving assistance products that is to be completed.

What he didn't expect was that his project received an investment of 100 million yuan from the Tongxiang Industrial Funds as soon as it was launched.

Why is the project favored by capital? Complying with Tongxiang's industrial development positioning is the most critical factor.

Minieye's core technologies cover the three key scenarios of driving, parking and cabin, and its mass production scale ranks among the top in the industry. This project with a total investment of 400 million yuan targets the research, development and manufacturing of the products of driving assistance, intelligent cabin, and high-precision map, which coincides with Tongxiang's vigorous development of the intelligent automobile industry. "After the project reaches full production, it is expected to achieve an annual output value of 1.2 billion yuan," Liu Guoqing said confidently.

In Liu's words, choosing Wuzhen is also an important step in Minieye's business plan of taking Wuzhen as a base to serve the automobile manufacturers in the Yangtze River Delta. The settlement of the project in Tongxiang will also add an important piece to the city's layout for the intelligent automobile industry.

Learning from Tongxiang's Finance Bureau that in the past year, Tongxiang has successfully attreacted and invested in 17 premium projects through its industrial funds of 600 million yuan. These projects that have been launched represent a total investment of over 2.2 billion yuan, allowing Tongxiang to draw "large investments" with "small costs".

Investing in "new" and "premium" projects is a distinctive feature of Tongxiang's investment promotion.

The 17 projects that have settled in Tongxiang cover the fields of high-end equipment manufacturing, intelligent sensing, intelligent automobiles and the like, all of which are urgently needed for Tongxiang to develop new quality productive forces.

"With the support of various preferential policies and industrial funds, we feel we are "needed". At present, the decoration of the Seatak Digital Technology project has come to an end. The company focusing on the intelligent manufacturing of water and electricity meters is building a factory of intelligent manufacturing 4.0 at a high speed in Tongxiang. The head of the project said directly that the support of the funds will effectively push their company development into a fast lane.

When most social capitals are unwilling to invest in startup companies' projects, Tongxiang's industrial funds have effectively solved the "from 0 to 1" problem for companies through equity investment, drawing a group of capital-intensive, technology-intensive, and talent-intensive strategic emerging industries to the city.

Using funds to draw capital, using capital to introduce industry, and using industry to drive urban development, Tongxiang has discovered a new path to accelerate the deployment of state-owned capital in strategic emerging industries and to build industrial clusters.

Tongxiang's goals for the new year have been determined—building a Runtong industrial fund ecosystem valued at over 30 billion yuan, developing a fund matrix that covers the entire life cycle of companies, focusing on intelligent automobiles and other major fields, and drawing more projects to settle in the city.

It is expected that more professional, refined, specialized and new “small giants” will emerge in Tongxiang.