Core Insights - The rise of the "Six Little Dragons" in Hangzhou signifies a new phase in China's technological innovation, moving beyond reliance on major cities and large enterprises to a broader engagement with smaller, innovative companies [1][3] - Hangzhou's government has adopted a supportive approach towards small and medium enterprises (SMEs), fostering an environment conducive to innovation and growth [3][4] - The concept of "patience" is emphasized as crucial for both government and policy in nurturing technological innovation [4] Government Support and Investment - Hangzhou's government is willing to invest in early-stage projects that other cities may avoid, helping companies navigate the challenges of initial growth phases [6][7] - The government has established various funds that support small enterprises, demonstrating a commitment to investing in their development rather than solely focusing on larger, established companies [6][8] - Examples include the investment in gaming company Game Science, which received support from local government funds even before achieving significant market validation [7] Innovation and Market Engagement - The city has created opportunities for SMEs to participate in significant events, such as the 2023 Asian Games, allowing them to gain visibility and showcase their innovations [5][6] - Hangzhou's approach includes opening up various sectors for experimentation by smaller companies, thus providing a fertile ground for innovation to take root [5][8] Comparative Analysis of Investment Models - Hangzhou's investment strategy contrasts with other cities like Shenzhen and Hefei, focusing more on future potential and smaller enterprises rather than just established players [8] - The article suggests that local governments should innovate in their approaches to support businesses, moving away from short-term metrics like immediate tax revenue [8]