Shenzhen-Hong Kong-Guangzhou Innovation Cluster Ranks First Globally for the First Time! Recently, the World Intellectual Property Organization (WIPO) released its 2025 Global Top 100 Innovation Clusters ranking. China boasts 24 clusters among the global top 100, maintaining its position as the world leader in quantity for the third consecutive year. This demonstrates China's rapid advancement in scientific and technological innovation and signifies a major breakthrough in building its innovation ecosystem.
Notably, the 2025 Global Innovation Index introduced “venture capital transaction volume” as an evaluation metric for the top 100 innovation clusters for the first time. This adjustment reflects a global shift in innovation assessment from a “research investment orientation” to a “market value orientation.” This change not only reshapes the competitive landscape of global innovation clusters but also underscores the importance of translating scientific achievements into market value.
Unlocking Innovation Value
WIPO's inclusion of venture capital transaction volume in its top 100 innovation cluster assessment encourages clusters to prioritize market demand, adopt market-driven research approaches, accelerate scenario-driven technology commercialization, and foster a virtuous cycle linking research, industry, and markets. “Previously, the global top 100 innovation clusters were evaluated primarily based on the volume of international patent applications filed under the Patent Cooperation Treaty (PCT) and the number of scientific papers published. While these metrics reflect innovation activity to some extent, they struggle to capture the commercialization potential of technological achievements. Incorporating ‘venture capital transaction volume’ into the evaluation system allows for a more comprehensive assessment of an innovation cluster's innovative strength and economic value,” explained Professor Shan Xiaoguang from the Shanghai International Intellectual Property College at Tongji University to the China Intellectual Property News reporter.
Venture capital activities play a vital role in energizing innovation ecosystems and enhancing the efficiency of innovation systems. “Venture capital serves as the bridge connecting technological innovation with the commercialization of achievements,” Yuan Zhenfu, Dean of the Intellectual Property School at Shanghai University, stated that venture capital activity concentrates the ability of innovation clusters to industrialize and capitalize on innovation outcomes. This will shift the focus of innovation clusters from academic research to innovation and entrepreneurship, and from patent applications to patent operations. It will also increase attention on how to build a more vibrant startup ecosystem and how to foster a more attractive venture capital “soft environment.”
Historically, innovation evaluation may have prioritized scientific and academic achievements, but today, market feedback and recognition of innovation have become paramount. “Scientific papers aim to solve research challenges, patents protect innovations for market entry, and venture capital investment facilitates commercialization. These three indicators represent the organic integration of the innovation chain—from front-end research to mid-stage development to end-market application—reflecting the global innovation ecosystem's emphasis on commercializing new fields, industries, and technologies,” "
Building an Innovation Ecosystem
China's dual achievements—topping the list of global innovation clusters and securing the highest-ranked individual cluster—are underpinned by intellectual property's role in sustaining the innovation ecosystem. “The emergence and growth of emerging industries like the digital economy, information and communications technology, and artificial intelligence have ignited a global innovation wave. These very sectors represent rich sources of intellectual property,” "Shan Xiaoguang noted that China's innovation entities are actively seizing opportunities presented by the new round of technological revolution and industrial transformation, striving to become key players or even pioneers in relevant industries, thereby laying a solid foundation for China's innovation-driven development. However, it is also crucial to recognize that China's innovation capabilities in fundamental research, biomedicine, precision machinery, and other areas still require further enhancement. More innovative outcomes that attract capital and influence the market are needed.
Within the ecosystem of innovation clusters, enterprises serve as the most dynamic “cells.” To better unlock innovation value, they must establish an innovation system that deeply integrates intellectual property with capital. “Enterprises should innovate based on market demand to ensure products efficiently adapt to application scenarios. Concurrently, leading enterprises within innovation clusters can spearhead the formation of innovation consortia to collectively tackle common industrial challenges through focused technological breakthroughs.” Yuan Zhenfu recommends that enterprises further refine their reward systems for employee inventions. Combining material incentives with recognition can ignite inventors' passion for innovation, while establishing profit-sharing mechanisms for technology transfer can motivate inventors to drive commercialization. Through these combined measures, intellectual property can truly evolve from a legally protected asset into a strategic asset and competitive tool that supports business development, permeates the entire innovation process, and integrates throughout the enterprise.
When intellectual property and venture capital form a virtuous cycle, the innovation ecosystem unleashes tremendous momentum, forging a broad pathway from innovation to entrepreneurship. Looking ahead, as China's innovation clusters continue to grow in number and quality, the nation's journey from an intellectual property powerhouse to a global leader in intellectual property will advance with greater steadiness and confidence. This evolution will also contribute more “Chinese wisdom” to global innovation development.