Hangzhou in Zhejiang province has launched a new initiative aimed at transforming scientific achievements into practical applications, local media reported on March 3.

The Concept Validation Center Development Alliance of Yuhang district was officially launched on March 1, marking the beginning of this new endeavor.

In China, the industrialization rate of scientific achievements at the provincial and ministerial levels is only about 5 percent. The United States introduced the concept of a "concept validation center" 20 years ago, which has been successful in bridging the gap between research and development institutions and the market and industry.

Following this concept, Hangzhou launched 15 concept validation centers last year, covering five major industry eco-circles: Internet of Things, biomedicine, high-end equipment, new materials, and green energy.

Through the initiative, the city plans to build a leading concept validation service system in China for technological achievement evaluation, transformation, investment and financing, and commercial development.