SAIC Motor on Feb 15 announced the launch of a new innovation center in Israel, which is dubbed “the second Silicon Valley”.

It marked another strategic move in international frontier research, following the opening of an innovation center in the Silicon Valley of the United States.

Israel has a profound historic and cultural background, as well as a favorable environment for innovation and entrepreneurship. It ranks as one of the world’s top countries on science indicators, such as the number of scientists and engineers per 10,000 people, research capacity in key basic disciplines and technology frontiers, and science and technology industries’ contribution to GDP.

Moreover, thanks to the Israeli government’s policy encouragement and institutional support, venture capital and the overall capital market are very active in the country, giving “flying wings” to various innovative tech companies.

Currently, many world-famous Internet companies and major carmakers are pushing ahead with frontier technology development in Israel.

As China’s largest carmaker and a Fortune 500 company (No 46), SAIC has been accelerating crossover technological innovations as well as its global business.

The company is stepping up allocation of resources for developing innovative technologies centered on the new trends of making cars “automated, Internet-connected, smart technology equipped, and sharing enabled”, with the aim to shape an ecosystem for its innovative business.

In the coming years, SAIC will make full use of local resources, make extensive contacts with Israeli universities and startups, and foster cooperative ties with local innovation incubators accelerators in a bid to establish long-term connections and mechanisms. The company will tap the capital market, especially possibilities in venture capital and mergers and acquisitions, in the hope to boost its independent innovation.