Shanghai Exiao Technology Co Ltd is expanding rapidly, growing from a very small office five years ago to now occupying 4,000 square meters over three floors in the neoBay Global Innovation and Entrepreneurship Zone in the southern district of Minhang.
A leading developer of no-code systems, Shanghai Exiao has hired more than 100 employees in recent months, bringing its total staff to nearly 300.
Revenue for 2022 is expected to reach 100 million yuan ($14.49 million), nearly triple that of last year.
The company was founded by three graduates from Shanghai Jiao Tong University. They rented an office in the neoBay area to start the business. They moved several times as the company expanded, but were never far from the junction of Jianchuan and Cangyuan roads, in the center of the neoBay area.
The total office space in this area is about 300,000 square meters, and 95 percent of the space has been leased, according to Shanghai South Waterfront Investment Development Co Ltd, Minhang’s investment platform.
So far, 13 science parks have been launched in the cluster area, aimed at incubating startups, accelerating development, testing and commercializing scientific developments.
Nearly 700 companies have settled in the region, more than 70% of which are involved in the science and technology sector.
The construction of a new phase of the neoBay area is in full swing.