Core Insights - The "Shenzhen-Hong Kong-Guangzhou" innovation cluster has risen to first place in the 2025 Global Innovation Index, surpassing the Tokyo-Yokohama cluster [2][4] - The inclusion of venture capital (VC) transactions as a new indicator in the Global Innovation Index has significantly reshaped the ranking landscape [4][5] - The cluster's success is attributed to its ability to convert scientific research into economic outcomes and attract investments, highlighting the importance of local industry chains [5][11] Innovation Cluster Rankings - The "Shenzhen-Hong Kong-Guangzhou" cluster ranks first, followed by Tokyo-Yokohama in second and San Jose-Sunnyvale in third [2][3] - Other notable clusters include Beijing (4th), Seoul (5th), and Hangzhou (13th) [3] Venture Capital Activity - From 2019 to 2023, the top 100 clusters attracted nearly 169,000 VC transactions, with San Jose-Sunnyvale leading at 6.9% [5] - The new ranking methodology emphasizes the concentration of world-class innovation activities based on international patent applications, scientific publications, and VC transaction volumes [5] Financial Support for Innovation - Guangzhou has established a "fund jungle" with a total of 2.15 billion yuan (approximately 150 billion yuan for industrial investment, 50 billion yuan for angel funds, and 5 billion yuan for tech innovation funds) to support tech innovation [7] - The city has become a leading hub for venture capital in China, with 779 private fund managers managing around 560 billion yuan [7] Policy Support and Collaboration - The three cities have implemented various supportive policies for tech innovation, including early-stage funding and reduced rental costs for specialized small and medium enterprises [9][10] - Collaborative initiatives, such as the Hong Kong University of Science and Technology's entrepreneurship competition, are fostering cross-regional cooperation [9] Future Prospects - The "Shenzhen-Hong Kong-Guangzhou" cluster is expected to leverage opportunities in artificial intelligence and other emerging technologies to enhance its competitive edge [10][12] - Hong Kong's IPO market has regained its position as the world's top fundraising venue, indicating a robust environment for tech companies [12]

Group 1 - The "Shenzhen-Hong Kong-Guangzhou" innovation cluster has risen to the top position in the 2025 Global Innovation Index, surpassing the Tokyo-Yokohama cluster and indicating a significant increase in its global standing [1][2] - The inclusion of venture capital (VC) transactions as a new metric in the Global Innovation Index has reshaped the ranking landscape, highlighting the importance of converting scientific research into economic outcomes [2][3] - From 2019 to 2023, the top 100 clusters attracted nearly 169,000 VC transactions, with the San Jose-Sunnyvale-Santa Clara cluster leading at 6.9% [2] Group 2 - Guangzhou has established a "fund jungle" with a total of 2 trillion yuan (approximately 150 billion USD) in various investment funds to systematically support technological innovation [6] - The three cities have implemented numerous supportive policies for technology innovation, including early-stage funding and reduced rental costs for specialized small and medium enterprises [7][11] - The Hong Kong University of Science and Technology has collaborated with Nansha to establish an innovation hub, which has incubated nearly 80 projects, with over half being from Hong Kong, Macau, and overseas [7][11] Group 3 - The Greater Bay Area cities are enhancing their collaborative efforts in technology innovation, with Shenzhen focusing on technology transfer, Guangzhou on building an international innovation hub, and Hong Kong leveraging its financial and international advantages [12] - The Hong Kong Stock Exchange has regained its position as the global leader in IPO fundraising, with a significant increase in new listings and fundraising amounts in the first half of 2025 [13] - The "Shenzhen-Hong Kong-Guangzhou" innovation cluster is characterized by Shenzhen's strong leadership, supported by successful companies like Huawei and Tencent, while Guangzhou's academic potential and Hong Kong's international advantages remain areas for further development [13]

Core Insights - The World Intellectual Property Organization (WIPO) released a report on September 1, highlighting the inclusion of venture capital transaction activity as a new indicator in the Global Innovation Index (GII) cluster research [2] - The Shenzhen-Hong Kong-Guangzhou cluster surpassed the Tokyo-Yokohama cluster to rank first, while the San Jose-San Francisco cluster rose three places to become third [2] - The GII cluster ranking, established in 2017, identifies the concentration of world-class innovation activities based on three core indicators: international patent applications submitted through the Patent Cooperation Treaty, the number of scientific papers published, and the newly added venture capital transaction volume [2] - The report indicates that venture capital investment activities help capture how technological knowledge is transformed into startups and ultimately into new products and services in the market [2] - A total of 100 top innovation clusters are distributed across 33 economies, with China having the most clusters (24), followed by the United States (22) and Germany (7) [2]

Core Insights - The World Intellectual Property Organization (WIPO) released a report on September 1, highlighting the inclusion of venture capital transaction activity as a new indicator in the Global Innovation Index (GII) cluster research [1] - The Shenzhen-Hong Kong-Guangzhou cluster surpassed the Tokyo-Yokohama cluster to take the top position, while the San Jose-San Francisco cluster rose three places to become third [1] - The GII cluster ranking, established in 2017, identifies the concentration of world-class innovation activities based on three core indicators: international patent applications submitted through the Patent Cooperation Treaty, research paper publications, and the newly added venture capital transaction volume [1] - The report indicates that venture capital investment activities help capture how technological knowledge is transformed into startups and ultimately into new products and services in the market [1] - A total of 100 top innovation clusters are distributed across 33 economies, with China having the most clusters (24), followed by the United States (22) and Germany (7) [1]