The 7th Shanghai Y50 Forum for innovation and entrepreneurship gathered thousands of young entrepreneurs and industry experts in Shanghai on Sunday, showcasing youth innovation projects and facilitating financing and implementation.

The event featured a main conference complemented by a science and technology carnival. Simultaneous youth innovation activities connected participants with Stanford University, the National University of Singapore, and the University of Hong Kong.

"Shanghai has a complete innovation chain, making it fertile ground for young people to navigate the entire process from laboratory to market," Michael Levitt, 2013 Nobel laureate in chemistry and Stanford University professor, noted during his keynote speech.

Reflecting on his company's growth, Shen Yichen, chairman of Lightelligence, said, "Shanghai has empowered our development as we now help the city build a global innovation highland for photonic computing and AI."

The forum recognized 20 outstanding young sci-tech entrepreneurship figures and 20 innovation achievements across critical sectors, including new energy, superconductors, and AI.

Cao Jie, founder of Yijia Zhisheng technology, highlighted Shanghai's appeal for tech companies: "As an AI+chemical company, we prefer basing our R&D in Shanghai due to its excellent entrepreneurial environment and AI resources. We've now accumulated substantial intellectual assets."

"Shanghai's profound cultural foundation is an invaluable asset," Zhang Zhongyao, cofounder of Shanghai Shaotang culture technology, said. "Government support is substantial, and residents here willingly pay for cultural products, providing excellent business opportunities."

To further support young innovators, the forum launched a comprehensive policy package integrating nearly 1,300 active policies for young entrepreneurs. Additionally, the newly unveiled university youth innovation and entrepreneurship seed program will provide 500 million yuan ($73.5 million) in direct equity investment and 5 billion yuan in credit funds targeting key sectors.

The afternoon carnival featured 20 projects across five tracks presenting to potential investors, with over 300 innovation projects engaging with investment institutions. Shanghai Jiao Tong University also hosted an "AI+" science and technology exhibition showcasing student entrepreneurship projects and innovative achievements.