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Recently, at the 4th INNOTECH Carnival held at the Hong Kong University of Science and Technology (Guangzhou), 11 scientific and technological innovation projects collectively made their debut and signed agreements. These projects include the "Floating Light AI Video Generation" project, which addresses pain points in industries such as e-commerce and short dramas; an AI companion doll adept at perceiving dialects and regional cultures; and an AI-driven health product targeting pain points in elderly health training. Behind these projects lies a common label - Guangzhou's first pilot project for the transformation of scientific and technological achievements, known as "investment before equity participation". In January this year, Guangzhou took the lead in initiating reform and exploration, launching the "investment before equity participation" pilot at the Hong Kong University of Science and Technology (Guangzhou). The government shifted its support approach from "subsidies" to "equity participation", investing real money as "angel investors" and "betting" on hard technology entrepreneurial teams alongside investment institutions. In just half a year, the first batch of "seeds" has been successfully established.