Established in 1993, the Hangzhou Yuhang Economic-Technological Development Area (HYEDA) became one of China's national economic and technological development areas in 2012. In 2017, HYEDA jumped 48 rankings from the previous year taking 77th place out of China’s 219 national economic and technological areas. By the end of 2018, HYEDA jumped another 37 places ranking 40th with over CNY¥62B in industrial output. Currently, it has 22 publicly traded companies and more than 280 enterprises exceeding CNY¥20 million in annual revenue. The HYEDA focuses mainly on the bio-tech and intelligent manufacturing industries but is also home to many companies in the green energy, new materials, modern services, and textile industries. The HYEDA is a unique mix of large industrial companies and startups (including 23 large incubators and accelerators) making a rare combination for an innovative environment.