Zhu Shengsheng / SHINE
Y50 Forum is a city-level forum that supports young innovators and talent.
Young entrepreneurs and talented professionals are welcomed to Shanghai as the city fosters innovation that promotes digitalization and smart transformation.
They will receive a variety of city-level support, including business environment, legal, tax and other related services, Shanghai Daily reported on Saturday.
The 5th Shanghai Y50 Innovation and Entrepreneurship Forum was held on Saturday, attended by academics, young innovators, business executives and government officials.
Nobel Prize winner Randy Shekman, Xiaohongshu founder and president Qu Fang, and movie star Hu Ge sent online greetings to the forum. Meanwhile, Yang Zhilin, 33, founder of Moonshot AI (developer of Kimi AI), gave a keynote speech on innovations and trends in generative AI.
Zhu Shengsheng / SHINE
Y50 Forum Release
A group of innovation achievements and results from Shanghai were presented at the forum.
The newly announced top 10 innovation examples for Shanghai include genetic research, electric vertical takeoff and landing (eVTOL), BeiDou navigation, brain-computer interface, and 5G and 6G. These fit well with the city’s blueprint to develop and transform his three pioneering industries – AI, biomedicine and chips – into a more innovation-oriented development path.
The output of the three industries reached 1.6 trillion yuan (US$222.2 billion) in 2023, compared to 1.27 trillion yuan in 2021. According to one report, this accounted for 34% of the city’s total GDP last year, up from 29.4% three years ago. A research report on Shanghai’s innovation and entrepreneurship ecosystem, first published at the Y50 Forum.
The forum also established the Youth Innovation and Entrepreneurship Ecosystem Platform, which provides mentoring, legal and other professional services.
The team of mentors who provide guidance, support and policy assistance to young innovators and entrepreneurs includes forum guests, experts, experienced entrepreneurs, funding consultants and experts in fields such as finance, law, accounting, tax and valuation. Includes experts.
Zhu Shengsheng / SHINE
Yang Zhilin, 33, founder of Moonshot AI, spoke at the forum.
Startup innovation and AI
Moonshot AI’s Yang said in a sideline interview that “the (business) environment that covers talent pool, ecosystem, and capital support is extremely important for startups.”
Kim AI, developed by Moonshot AI, is rapidly spreading online and could become a ChatGPT-like AI tool in the Chinese language world.
In his keynote, Yang said that 90% of workflows will be handled by generative AI in the future, thanks to “agentization” capabilities.
A batch of Shanghai’s youth innovation and entrepreneurship hubs were also unveiled, including Zhangjiang in Pudong New Area, Model Speed ​​Space or Mosu in Xuhui District, and two technology zones in Minhang District.
Model Speed ​​Space was created to attract the world’s leading AI companies and startups to incubate cutting-edge AI-based models. According to industry insiders, since its establishment in September last year, more than 60 AI LLM (Large-Scale Language Model) companies and more than 200 related companies in the AI ​​industry chain have settled in Mosu, Xuhui District. .
