Beijing ranks fourth in global incubation index

Beijing, Shenzhen and Shanghai have entered the top 10 ranking of the Global City Entrepreneurship Incubation Index, China News Service reported.

The index, which evaluates major cities based on incubation potential, performance and ecosystem, was released by the Entrepreneurship Research Center on G20 Economies as well as the School of Economics and Resource Management of Beijing Normal University.

The index aims to provide a systematic, objective, authoritative and forward-looking evaluation for these cities, serving as a barometer that reflects the development of global cities' entrepreneurship and incubation.

According to the index released during a parallel forum of the 2023 Zhongguancun Forum, New York, London, San Francisco, Beijing, Boston, Shenzhen, Shanghai, Tokyo, Los Angeles and Chicago rank as the top ten.

In China, Beijing, the Yangtze River Delta city cluster and the Guangdong-Hong Kong-Macao Greater Bay Area are the central areas for business incubation.

Among them, Beijing led the country in incubation performance, ranking third in incubation potential and fourth in incubation ecosystem.

Data showed that last year there were more than 500 incubators in Beijing, compared with 12 in 1999. The revenue of 28,000 incubation enterprises in the city surpassed 140 billion yuan ($19.8 billion) in 2022.