On 10 April 2023, the seventh Everything Grows conference — guided by the China Association for Science and Technology, and jointly organised by the Hangzhou municipal government, the Zhejiang committee of the China Democratic National Construction Association and the China Investment Development Promotion Association — was held in Hangzhou. The 2023 Hangzhou unicorn and quasi-unicorn lists were released by the Hangzhou Venture Capital Association and Weilian. Westlake Pharmaceuticals (Hangzhou) Co., Ltd. joined the quasi-unicorn list.
Technology is the primary productive force, talent the primary resource and innovation the primary driver. Hangzhou has been building a culture of entrepreneurship and innovation and developing its stance as a city of innovation and a pilot zone for sci-tech finance.
As one of China’s most dynamic innovation cities, Hangzhou has kept up the growth of its digital economy despite many challenges. This year’s list counts 354 quasi-unicorns; Westlake Pharmaceuticals entered the 2023 healthcare category on the strength of its original drug discovery, appearing on the list for the first time.