According to reporting in
Shanghai Daily.com, domestic high-tech startups located in Pudong posted nearly a 40 percent growth in sales contracts during 2005 as the result of government support efforts, claims the Shanghai Pudong Productivity Center.

The center, a government agency under the Pudong Science and Technology Bureau, helps firms attract venture capital, contact potential customers, trade intellectual property and apply for government funds.

Through December 15, 2005 the contract value achieved by the firms associated with the center rose to almost $479.5 million.

The agency also helped guide 90 research projects to the manufacturing stage over the past year.

China's Ministry of Science and Technology realizes that local high-tech firms often lack funds and information even though they control core technologies, as a result, government policies aim is to help key home-grown startups become stronger and globally competitive.

In the past seven years, 159 firms landed deals, and 130 Shanghai companies secured government funds, mainly in the semiconductor, software and herbal medicine sectors.

The center also helped tech firms raise nearly $50 million from venture capital companies.

For example, the agency attracted venture capital firms such as Nokia Venture to set up in Zhangjiang High-Tech Park in Pudong, which is regarded as Shanghai's Silicon Valley.