When scientists finish a scientific research, they are completing the process "from 0 to 1." But most of the scientific and technological achievements need to continue to be transformed into products to realize its value, which is known as "from 1 to 100." Hangzhou Institute of Optics and Fine Mechanics sounds like a scientific research unit, but is essentially an incubator. It focuses on helping optoelectronics scientists start their own companies – that is to transform the "technology 1" into the "industry 100." Wang Xuan Reports.

In this optical laboratory, our reporter met Zhang Long, the founder of Hangzhou Institute of Optics and Fine Mechanics. Zhang Long is one of China's most outstanding scientists in the field of optoelectronics. He has seen too many cutting-edge technologies in the field of optoelectronics not being transformed into products. As a former entrepreneur himself, Prof. Zhang now wants to help other scientists in starting companies.

ZHANG LONG Director General of Hangzhou Institute of Optics and Fine Mechanics "We are mainly targeting top professors with excellent innovation ability in China. This is a professor from Shanghai Jiaotong University who focuses on quantum computing. In his original business plan, he listed 5-6 domains that his technology can serve. Then I will need to help him do some subtraction, target the right market, identify the right customers, build a startup team, and also form a reasonable equity structure."

Three and half years ago, Professor Li Jingbo wanted to start his own company to produce silicon carbide (SiC) chips. But a semiconductor production line will need investments of hundreds of millions of RMB, which discourages investors from testing the waters. The Hangzhou Institute invested 15 million as angel investment.

LI JINGBO Chairman of Zhejiang XinKe Semiconductor Ltd., Co. Qiushi Distinguished Professor of Zhejiang University "It is very important. Other investors would not dare to invest anything. Because they don't understand semiconductor chip. The institute invested in the angel round, then the others followed. It enabled us to make a start."

In just a few months, the institute sourced nearly 50 million RMB for Prof. Li from the market, which is enough for him to buy some second-hand equipment.

In 2023, the institute easily sourced hundreds of millions of RMB for Prof. Li's startup. Li upgraded the production line, and the company is developing at an incredible rate.

The more difficult it is to evaluate a technology of hard science, more is the need for a "scientist + entrepreneur" double vision, Zhang Long told CGTN. With more scientists and investors coming in, the aggregation effect becomes more obvious.

ZHANG LONG Director General of Hangzhou Institute of Optics and Fine Mechanics "Investment institutions, financial service institutions, and the scientists with technologies are now clustered around us. If scientists like me find the path of technology transformation via helping scientists start companies, and prove it is feasible, then maybe other scientists will make up their minds to join us – to get their scientific and technological ambitions realized."

By far, Hangzhou Institute has incubated more than 50 projects and set up more than 40 companies in less than five years. The model is being promoted and copied in other regions. In Taizhou, Zhejiang Province, 2.8 billion RMB is invested to create a similar institution, but focusing on another field. It has attracted four high-quality projects and has started the incubation. WANG XUAN in Zhejiang Province for CGTN.