Guangzhou has 23 unicorns, as Huangpu takes lead

The 2022 Guangzhou Unicorn Innovation Enterprises Report was unveiled on Aug 17 - directing attention to the fact that a total of 23 enterprises in Guangzhou city have achieved so-called unicorn status, meaning they are privately held start-ups each valued at more than $1 billion. 

In particular, the Huangpu district is home to five of these unicorns.

The presence of unicorns serves as a pivotal indicator of regional economic vitality. Guangzhou's unicorns are predominantly focused on strategic emerging industries, with an impressive average revenue growth rate of 30.13 percent over the past three years. 

Huangpu district, in particular, is diligently fostering an innovation ecosystem, providing an optimal environment for top-tier unicorn enterprises to flourish.

The search for 2023's innovative unicorn enterprises in Guangzhou is already underway and it is expected to conclude by the end of September. Local authorities are encouraging eligible companies to apply, aiming to inject further momentum into Huangpu's innovative development.