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August 19 news, recently, "White Paper on the Growth Path of China's Unicorn Companies” (hereinafter referred to as the “White Paper”) was released. The National Research Institute of Economics and Tianjiu Enterprise Services jointly released the above-mentioned “White Paper” in an effort to showcase the growth path of Chinese unicorns.

Data shows that unicorn companies are leading the development of new fields and new tracks, with integrated circuits, clean energy, and artificial intelligence tracks becoming the new main battlefields; and in hard-core technology segments such as GPU chips, semiconductor materials, hydrogen energy, new energy storage, controlled nuclear fusion, synthetic biology, and large models, unicorn companies are also making new breakthroughs.

There are as many as 50 unicorns in my country's software and information technology services sector, accounting for 9.6%; followed by other science and technology promotion services, with 43; computers, communications and other electronic equipment, with 43.manufacturingThere are 28 companies in the field, ranking third. The unicorn camp has played a significant role in the process of cultivating and expanding new quality productivity. With the intensification of international competition in scientific and technological innovation in the future, the driving role of unicorns in the new quality productivity track will be more prominent.

The White Paper shows that the distribution of China's unicorn companies has an industrial agglomeration effect, with 523 unicorn companies distributed in 61 cities in 22 provinces, municipalities and autonomous regions (including the Hong Kong Special Administrative Region) across the country.Shanghai、JiangsuGuangdong, Zhejiang and Shandong have 74, 71 and 22 companies respectively. From a national perspective, the innovation wave is spreading continuously, and the coverage and penetration in the central and western regions are beginning to intensify.

Data shows that 924 potential unicorn companies are distributed in 63 cities in 23 provinces, municipalities and autonomous regions across the country. The distribution is roughly consistent with that of unicorn companies. In terms of provincial distribution, Jiangsu ranks first with 306 companies, Shanghai ranks second with 148 companies, Beijing and Guangdong follow closely with 140 and 109 companies respectively; only 10 provinces and municipalities have more than 10 companies. In terms of cities, Shanghai and Beijing rank first and second, while Suzhou and Nanjing have 135 and 101 companies respectively.

In terms of industry, 140 potential unicorns belong to other science and technology promotion services, accounting for 15.2%; 105 potential unicorns belong to research and experimental development; 77 potential unicorns belong to software and information technology services. Computer, communications and other electronic equipment manufacturing, biomedicine, new energy vehicles and other fields are also the main areas for the birth of potential unicorns.

The "White Paper" points out that in the face of the ever-changing world situation and macroeconomic situation, the traditional growth model that relies on capital injection is facing challenges. The past standard path of "telling a good business story - financing - burning money for users - overseas listing" is basically no longer valid. If this traditional path does not work, companies need to find new channels. The "Unicorn Enterprise Growth Second Curve" that Tianjiu Enterprise Service, an empowering unicorn enterprise incubation and acceleration platform, is about to be officially launched, or it may provide a new "transition from capital empowerment to resource empowerment" for the prosperity and growth of the unicorn market - not only providing companies with solutions for market expansion and marketing promotion, but also helping them break through the bottlenecks of capital and resources, collaboratively develop the market, accelerate product iteration and business model innovation, and achieve self-growth without relying on external financing. (Cui Yuxian)

This article is from NetEase Technology Report. For more information and in-depth content, follow us.