BEIJING — A total of 878 incubator teams settled in Zhongguancun Innovation Street in 2017, which involved financing of more than 7.6 billion yuan ($1.2 billion).

Of the startups, 121 were set up by overseas returnees and foreigners.

Currently, the street has brought together 45 innovation service institutes. It has established innovation cooperation with more than 50 innovation institutes from over 20 countries and regions such as the United States, Israel, Finland and India.

Opened in June 2014, the street has since seen a total of 2,459 incubation teams, including 315 from abroad or set up by overseas returnees. And 905 startups have received financing, totaling 14 billion yuan.

In 2017, the street established the first global innovation community in China, offering service to more than 100 global startups.

The Zhongguancun Innovation Street focuses on the needs of startups and has committed itself to building an innovation and entrepreneurial environment with sound service functions.