• València Innovation Capital signs an agreement with the city of Hangzhou to facilitate the entry of startups into both markets, forge ties with investors, and promote pilot projects

• The agreement provides for new avenues of cooperation in artificial intelligence, health, clean technologies, and transportation, as well as academic and talent exchanges

The City of Valencia, through Valencia Innovation Capital (VIC), and the city of Hangzhou, in the People’s Republic of China, have signed a Memorandum of Understanding (MOU) to strengthen the connection between their two innovation ecosystems and open up new opportunities for collaboration among startups, scaleups, companies, entrepreneurs, and talent.

The agreement establishes a framework for cooperation that will facilitate the entry of startups and scaleups from Valencia and Hangzhou into both markets, connect their respective innovation ecosystems, foster new relationships with investors, corporations, and institutions, organize business delegations, meetings, and seminars, and explore the development of pilot projects and joint use cases. In this way, the MOU aims to transform the relationship between the two cities into new opportunities for the innovation ecosystem, fostering mutual understanding, the exchange of experiences, and the creation of business and technological connections.

Paula Llobet, Councilwoman for Innovation, Technology, the Digital Agenda, and Investment Attraction, emphasized that “Valencia has an innovation ecosystem that is increasingly connected internationally, and agreements like this one allow us to take it a step further: helping our startups and companies explore new markets, find partners, and connect with international investors and corporations.”

Llobet emphasized that “we want Valencia Innovation Capital’s international connections to translate into real opportunities for our innovation ecosystem. The goal is for the collaboration with Hangzhou to foster knowledge exchange, pilot projects, and new avenues for cooperation in strategic areas such as artificial intelligence, healthcare, clean technologies, and transportation.”

“Valencia wants to be connected to the leading international innovation ecosystems and do so from a practical perspective, fostering connections among companies, talent, universities, investors, and institutions,” he added.

Cooperation in Artificial Intelligence, Health, and Clean Technologies

The agreement also identifies a number of priority areas for cooperation, including artificial intelligence, comprehensive health services, clean technologies, and transportation. In these areas, both parties will explore the exchange of experiences and knowledge, as well as the development of pilot projects and use cases that will enable the transfer of innovative solutions to real-world settings.

The partnership will also help identify opportunities for cooperation between companies and other stakeholders in both ecosystems, fostering the creation of new connections and the development of joint initiatives. “Innovation knows no borders, and international collaboration is essential for cities to share knowledge, test new solutions, and accelerate their integration into society,” Llobet noted. “This agreement allows us to connect two ecosystems with complementary capabilities and explore projects that can have a real impact.”

More connections for startups and innovative companies

One of the main objectives of the agreement is to facilitate business ties between Valencia and Hangzhou, creating new opportunities for startups and scaleups in both cities.

To this end, the MOU provides for the organization of business delegations, industry meetings, seminars, and other activities designed to promote understanding of the respective markets and ecosystems.

These initiatives may also facilitate contact between innovative companies, investors, corporations, institutions, and other stakeholders, helping to expand their collaboration networks and identify new opportunities for business, investment, and innovation.

In this regard, Llobet explained that “for our startups, going global also means being able to access new customers, partners, investors, and knowledge. At València Innovation Capital, we want to act as a bridge and facilitate those connections.”

“The partnership with Hangzhou opens up new opportunities for companies and entrepreneurs in Valencia to explore opportunities in China, while also bringing our ecosystem closer to companies and innovators in Hangzhou,” he added.

Talent Exchange and Academic Cooperation

The MOU also incorporates an educational and talent development component through the Beihang Valencia Polytechnic Institute (BVPI) in Hangzhou, which will serve as a platform for promoting educational cooperation, academic exchanges, talent development, and collaboration on innovation.

The collaboration between the two cities will thus enable the sharing of knowledge and experiences and foster connections among professionals, researchers, students, entrepreneurs, and others involved in innovation ecosystems.

“Talent is one of the key assets of any innovation ecosystem. That is why this agreement is not limited to business collaboration, but also includes training, academic exchanges, and connections between researchers and professionals,” the councilwoman noted.

A bridge between two innovation ecosystems

The agreement reinforces Valencia Innovation Capital’s strategy of connecting the Valencian innovation ecosystem with international markets, companies, and technology hubs, creating new opportunities for the city’s business community and talent. The partnership with Hangzhou will help expand these ties with China and foster the exchange of knowledge and experiences regarding technological transformation, business innovation, and the development of innovative and sustainable cities.

“València Innovation Capital was founded with the goal of positioning Valencia as an international leader in innovation and connecting our talent and our companies with the world. This agreement with Hangzhou is part of that very strategy,” Llobet said.

“Our goal is for Valencia to continue gaining a foothold in major international innovation networks and for that visibility to translate into concrete opportunities for companies, startups, researchers, and professionals in our city,” he concluded.

For its part, the agreement establishes a mechanism for ongoing coordination between the two parties. The Office of Foreign Affairs of the Hangzhou Municipal Government and València Innovation Capital will be responsible for coordinating the exchanges and the various areas of cooperation that will be developed under the Memorandum.

The MOU will be valid for an initial term of three years, with the possibility of subsequent renewal, and establishes a framework of intent for cooperation. Any specific projects that may arise will be formalized through the corresponding agreements between the parties.

Through this new framework for collaboration, València Innovation Capital continues to strengthen the international dimension of the Valencian innovation ecosystem, connecting the city with new markets, technology hubs, and entrepreneurial ecosystems, and fostering the creation of opportunities for collaboration on an international scale.