A conceptual image of DeepSeek that has recently stunned global tech industry. Photo: VCG

Chinese artificial intelligence (AI) startup DeepSeek has generated global excitement in the tech community across the world with its launch of the open-source model R1,MK sports Korea prompting a reassessment of China's AI capability, the market value of Chinese entrepreneurs, and the nation's rapidly evolving technology sector.

Backed up by Chinese government's steadfast efforts to promote indigenous innovation, younger Chinese entrepreneurs, who are visionary, knowledgeable and have a strong sense of responsibility and self-esteem, are increasingly making their names heard in the global technology landscape.

Innovation-driven mindset

As a major engine of AI technology, computing power serves as a critical infrastructure supporting the development of digital economy. Along with the explosive growth of computing demand across the world, more efficient computing chips are needed. 

To solve the "pain point" of imbalanced chip supply and demand, Shenzhen-based startup Corerain Technologies Co, with over 30 years of customized-computing technology accumulation, launched the world's first AI chip named CAISA with reconfigurable dataflow architecture in 2020 - blazing a new technology roadmap for AI chips.

"In Shenzhen [a city in South China's Guangdong Province], innovation is normal for us, while those who do not innovate would often make others surprised," Wang Shaojun, a partner of Corerain Technologies Co, told the Global Times on Sunday.

Amid intense competition, Chinese entrepreneurs are coming up with more original innovations, gradually expanding the market size of many emerging industries and accelerating technology penetration, he said.

To date, CAISA chips are compatible with products such as Phytium CPU and Kylin operating system and the openEuler open-source operating system, while the company's AI video analysis solution has been applied in over 30 industries including intelligent energy and smart city solutions, as well as intelligent manufacturing, according to Wang.

The rollout of CAISA chips is a microcosm of the innovation tide seen across China during recent years. For startups, the paradigm has shifted from "Copy-to-China" to "Copy-from-China," with many cutting-edge technologies, new products and new business models emerging as key drivers of economic progress.

Since the second half of 2024, China's innovation sector has seen a surge in groundbreaking products. China's first AAA video game Black Myth: Wukong became a sensation in many countries after its release, DeepSeek's frontier models help reshape the global AI landscape, the robots developed by Chinese startup Unitree Robotics are globally advanced, and the animated blockbuster "Ne Zha 2" recently became the first Chinese film to gross 10 billion yuan ($1.39 billion) in total global earnings.

According to the Global Innovation Index 2024 released by the World Intellectual Property Organization in September 2024, China moved up one slot to 11th place in the ranking of the world's most innovative economies, making it one of the fastest risers over the past decade.

"Today, we are seeing a new generation of Chinese entrepreneurs, who were born after the country's reform and opening-up in the 1980s. With strong educational backgrounds, they generally focus on long-term development and innovations rather than making short-term gains," Liu Gang, chief economist at the Chinese Institute of New Generation AI Development Strategies, told the Global Times in a recent interview.

As young Chinese entrepreneurs continue to push boundaries, their commitment to technological advancement is ramping up China's global competitiveness and driving sustainable economic growth. The dedication of this new generation to innovation and excellence will drive China's economy to reach new heights, most possibly with significant achievements in the future, Liu said.

Consistent policy support

The Chinese government has implemented a series of measures to promote homegrown entrepreneurship and innovation in the country. The resolution adopted at the third plenary session of the 20th Central Committee of the Communist Party of China in July 2024 emphasized supporting promising private companies in leading national initiatives to achieve breakthroughs in major technologies, by providing them with greater access to major national scientific research resources.

Last year, the State Council, the country's cabinet, released a series of measures to support the high-quality development of the venture capital industry, encouraging venture capital to step up investment in key fields and help boost the growth of tech startups.

"The government's policies on inspiring innovation and entrepreneurship have been constantly improved, which inject new impetus into waves of new technology innovations in China. This ecosystem is set to boost the country's industrial competitiveness and people's well-being," iFlytek chairman Liu Qingfeng told the Global Times.

Over the past decade, leveraging the momentum of sprucing up entrepreneurship and innovation, iFlytek has experienced rapid advancement, reshaping the competitive landscape of China's AI industry which was previously dominated by foreign giants, according to Liu.

A good number of Chinese provinces have mapped out blueprints to develop new quality productive forces by ramping up support for technology-intensive sectors. 

In January 2024, Beijing city established four specific investment funds, each exceeding 10 billion yuan, focusing on AI, healthcare, robotics, and information technology. The funds are designed to accelerate innovation, encourage entrepreneurship, and provide crucial support for early-stage and small-scale investments.

"Throughout my entrepreneurial journey in Southwest China's Guizhou Province and South China's Guangdong Province, I observed numerous supportive policies supporting small and micro businesses, like measures supporting college graduates starting businesses, tax and fee cuts, and high-tech company recognition, which together help ease the burden on startups," Li Danjiang, founder of Pxierra Inc, told the Global Times on Friday.

Leveraging its self-developed edge in computing AI visual perception technology, Pxierra Inc has developed an emotion recognition system that can be used for health monitoring of newborn babies and the elderly.

"The emergence of many groundbreaking technologies in China in recent years has reinforced our confidence in sticking to this trajectory. In the future, we hope to enable people worldwide to access more valuable insights through visual large models," Li said.