Zhuhai dangles incentives to lure start-ups in four key industries under Greater Bay Area drive
- Silicon Valley AI start-up Pachira Technology credits its rapid growth to the local government’s efforts to turn Zhuhai into a ‘smart city’
- Zhuhai has also teamed up with home-grown tech titans to integrate internet, big data and AI in the real economy
One such beneficiary is Pachira Information Technology, a speech recognition firm founded by Macau businessman Ho Kuok-tou, which counts Japanese carmaker Toyota Motor, Bank of China and German financial services group Allianz among its clients.
“Beyond cash handouts, tax cuts and other subsidies, our business received a major boost as the government introduced more business opportunities and fundraising opportunities,” he said.
Ho, who formed his artificial intelligence (AI) start-up in 2009 in California’s Silicon Valley, decided to relocate to Zhuhai’s special economic zone in Hengqin last year, after winning a local scientific and technological entrepreneurship competition.
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A tour of the Hong Kong–Zhuhai–Macau mega bridge
The award included 100 million yuan (US$15.25 million) of cash and 1,000 square metres of office with a sound lab and display centre hosting vehicles adopting its voice-control solutions. The space is rental-free for three years.
Pachira, which offers smart solutions such as voice-control systems on vehicles and auto-dialogue builders at private and government call centres, is aiming to get listed soon, after completing four rounds of financing, Ho said, without disclosing the figures.