Tianjin is expected to gather pace amid its push for higher-level innovation, supported by the launch of the Tiankai Higher Education Innovation Park, an incubation hub and high-tech industrial park, in the North China municipality, officials of local universities said.

Their comments were made during a media event announcing the progress of the park's inauguration ceremony, which will be held on Thursday, along with the opening of the seventh World Intelligence Congress.

Construction of the new park will be supported by two major domestic institutions — Tianjin University and Nankai University — to better serve entrepreneurs and high-tech and innovative enterprises, they added.

The project is part of the municipality's goal to cultivate a leading global industrial hub for such players, the officials said.

The park will include facilities located in three downtown districts in the coastal city, according to the plan.

A major part of the park is set in the Nankai district and will be built based on a former science and technological park near the main campuses of the two neighboring universities, with a construction area of 1 square kilometer.

The other two parts, covering 0.17 sq km, will rise near the campuses of two universities in southern Tianjin's Jinnan district. An industrial town of 24.79 sq km will also be built in Xiqing district to facilitate the development of the park.

Chen Yulu, president of Nankai University, said, "The university, supported by its students and alumni, will ramp up efforts to attract more funds and resources to build the park into a leading global incubation and sci-tech hub."

A special fund is in the pipeline to support entrepreneurs who graduate from the universities, the plan said.

Jin Donghan, president of Tianjin University, said, "Supporting the building of Tiankai is part of the university's efforts to help boost the municipality's high-quality development and accelerate the commercialization of our research achievements."

Liu Yi, president of the Tianjin University Alumni Association and president of Andon Health Co Ltd, said the association has collected funds of up to 10 billion yuan ($1.43 billion). The association will also help draw investments for the projects of startups in the park.