Since the dawn of 2025, DeepSeek has maintained its meteoric rise, not only shaking up the US-dominated AI landscape but also amassing 100 million users in just seven days without advertising, setting a new benchmark as the fastest app to achieve this milestone (ChatGPT took two months).

DeepSeek's surge has catapulted Hangzhou, its birthplace, into the global tech spotlight. This isn't the first time Hangzhou has made waves in tech. From humanoid robots dancing yangko during the Spring Festival Gala to the globally acclaimed 'Wukong: Black Myth,' Hangzhou continues to impress. These are the city's emerging 'Six Little Dragons' in the tech world.

01

Introducing the 'Six Little Dragons'

Hangzhou's 'Six Little Dragons' comprise DeepSeek, known for its groundbreaking large model; Game Science, behind the popular domestic game 'Black Myth: Wukong'; Unitree Robotics and CloudMinds, leaders in the global quadruped robot market; BrainCo, a pioneer in brain-computer interfaces; and Qunhe Technology, boasting the world's largest indoor scene cognitive deep learning dataset. These six Hangzhou-based enterprises are 'tech nouveau riches,' pioneers in new technology fields with significant industry influence, often referred to as 'the mysterious eastern force.'

Table: Hangzhou's 'Six Little Dragons' of Tech Enterprises

Source: Compiled by Firestone Creation based on public information

Notably, Hangzhou's 'Six Little Dragons' lean towards hardcore technology. According to Firestone Creation's industry data, these enterprises focus on cutting-edge areas like robotics, AI, metaverse, and brain science, differentiating them from previous-generation internet giants like Alibaba and NetEase, which centered on e-commerce and software services. The earlier internet titans thrived on business model innovation, transforming lifestyles and consumption patterns. In contrast, Hangzhou's 'Six Little Dragons' advance into foundational and basic technology areas, driven by technological innovation.

Feng Lei, deputy director of the Firestone Creation Industry Research Institute, believes several factors contribute to this shift:

Firstly, industrial upgrading demands. Hangzhou is transitioning from an 'E-commerce Capital' to a 'Hardcore Tech Capital,' with policies fostering five major ecosystems, including intelligent IoT and advanced manufacturing, to avoid intra-industry competition in low-barrier sectors.

Secondly, the shift in global technology competition focus. Humanoid robots, large models, quantum computing, etc., have become new battlegrounds for international rivalry. Hangzhou enterprises are securing their voice through 'hardcore innovation,' as evidenced by Unitree Robotics' inclusion in NVIDIA's global partner list.

Thirdly, capital preference and technical barriers. The hard tech field boasts higher barriers to entry. Hangzhou has forged technical barriers through deep collaboration between universities (like the Zhejiang University Robotics Laboratory) and enterprises.

02

The Origin of Hangzhou's 'Six Little Dragons'

As the 'Six Little Dragons' continue to shine, questions like 'Why Hangzhou?' have sparked heated public debate, prompting deep reflections on the regional development of new productive forces. Some provincial media outlets have posed probing questions, such as 'Hangzhou has DeepSeek, what do we have?' and 'Why can't we cultivate our own 'Six Little Dragons'?'

In Feng Lei's view, the collective rise of Hangzhou's 'Six Little Dragons' is no coincidence. Hangzhou stands at a pivotal point in technological explosion. Data indicates that in 2023, the added value of Hangzhou's core digital economy industry surpassed 650 billion yuan, accounting for over 30% of GDP. The city ranks fourth nationwide in unicorn companies (24 companies) and listed companies, showcasing the robust momentum of its tech industry.

Feng Lei cites two primary reasons for this concentrated explosion: firstly, the convergence of technological accumulation and policy dividends. Since 2017, Hangzhou has invested in hard tech fields like AI and robotics, with profound technological precipitation in AI, cloud computing, big data, etc. At the policy level, the Hangzhou Municipal Government has introduced three '15%' scientific and technological innovation support policies, ensuring substantial financial backing for tech enterprises' R&D and growth.

Secondly, the international environment fosters industrial innovation. US chip sanctions against China drive domestic substitution demands. For instance, DeepSeek has broken ground in low-cost large model training, while Unitree Robotics' robots are exported globally, validating technological autonomy. Additionally, the siphon effect of capital and talent plays a crucial role. Hangzhou's venture capital fund size reaches 1.2 trillion yuan (one-sixth of the national total), and its net talent inflow rate tops the nation, forming a vibrant 'industry-university-research ecosystem.'

Feng Lei emphasizes that Hangzhou's ability to continuously nurture outstanding tech enterprises is inseparable from its innovative soil:

A policy-breaking mindset. The Hangzhou government paves the way for technology through 'institutional innovation,' exemplified by the country's first metaverse government service hall, digital property rights exchange, and the 'Anxinbao' system to mitigate enterprise R&D risks.

Efficient industry-university-research collaboration. Universities like Zhejiang University and Westlake University have a 'zero-distance transformation' model with enterprises, achieving rapid productization of research outcomes.

Integrated development of the capital chain and industrial chain. Giants like Alibaba and Hikvision form the backbone of the industrial chain, supported by dense venture capital funds. During Qunhe Technology's Series B funding round, for instance, 40 institutions competed, highlighting capital's keen interest in niche markets.

03

The Innovative Zhejiang Behind the 'Six Little Dragons'

Hangzhou's 'Six Little Dragons' have garnered global attention, highlighting Zhejiang's technological innovation prowess. According to the 'China Regional Innovation Capability Evaluation Report 2024,' Zhejiang's regional innovation capability ranks fourth nationwide for three consecutive years.

The 2025 Zhejiang Provincial Government Work Report outlines plans to lead new productive forces development with 'Innovative Zhejiang' and establish a modern industrial system. The province's new year meeting in 2025 emphasized focusing on two key tasks: promoting integrated reform and development of education, science, technology, and talent, and advancing the deep integration of scientific and technological innovation with industrial innovation.

From 'innovative province' to 'Innovative Zhejiang' as a distinctive hallmark of provincial advancement in Chinese-style modernization, Zhejiang reaffirms its commitment to innovation.

Currently, Zhejiang accelerates 'Innovative Zhejiang' construction and tailors new productive forces development to local conditions. Hangzhou focuses on emerging industries like intelligent IoT, biomedicine, integrated circuits, and 'China Vision Valley.' Ningbo strengthens and completes the green petrochemical industrial cluster, while Shaoxing revitalizes historical classic industries and fosters strategic emerging ones through technological innovation. Jiaxing proactively develops smart photovoltaics and computing center projects...

Building on the 'Six Little Dragons,' Feng Lei suggests enhancing basic research and common technology platforms, improving industrial chains and global layouts, and optimizing talent policies and entrepreneurial environments. This approach addresses technical bottlenecks, international barriers, insufficient industrial ecosystem integration, and structural talent shortages, igniting a new engine for high-quality development with 'Innovative Zhejiang.'

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Author | Firestone Creation Feng Lei Weng Jianping

Reviewer | Firestone Creation Yin Li