Ten enterprises from Taicang, a city in Suzhou, Jiangsu province, have been selected for Suzhou's 2023 unicorn incubation program, a testament to the city's ongoing efforts to drive the development of innovative high-tech companies.

In 2023, Taicang recognized 460 new high-tech enterprises, with 1,175 effective high-tech enterprises and 1,880 technology-based small and medium-sized enterprises (SMEs) evaluated and cataloged. Additionally, the province identified 10 potential "unicorns" within the city.

Moving forward, the city plans to continue deepening the incubation of technology enterprises, optimizing and adjusting policies for the cultivation of different tiers of enterprises, including technology-based SMEs, high-tech enterprises, "gazelle" enterprises, and unicorn enterprises.

The goal is to accelerate the growth of companies in the startup phase, upgrade enterprises which are currently growing, and strengthen the position of innovative leading companies, allowing more unicorn enterprises to emerge in the city.

Unicorn enterprises refer to technology startups that have been established for less than 10 years, boast a valuation of $1 billion, and have not yet gone public. As top-tier companies, unicorns embody significant development potential and serve as a key indicator of a region's innovation capabilities and innovation ecosystem.