As core participants in technological innovation, enterprises, especially gazelle enterprises in rapid growth and unicorn enterprises that have achieved significant market breakthroughs, play a crucial role in leading the development of emerging industries, fostering new models, and stimulating new momentum. From a global perspective, the quantity and quality of gazelle and unicorn companies are often used as important indicators to measure the innovation capability and development speed of the region. How to continuously stimulate the vitality and competitiveness of these enterprises, and promote them to serve the overall economic development of the country more effectively, is an important proposition at present. The "Report on the Development of Chinese Unicorn Enterprises (2024 Edition)" shows that as of the end of March this year, the total number of unicorn enterprises in China has risen to 369, accounting for more than a quarter of the global total. This reflects the vigorous development of China's innovation economy and also marks China's important position in the global unicorn enterprise landscape. Just as a vibrant natural ecosystem provides the soil for wildlife to grow, a vibrant innovative ecosystem and superior business environment are the fertile ground for enterprise growth. In the current complex and ever-changing economic situation, in order to cultivate and strengthen the growth environment of technology innovation enterprises, more proactive measures must be taken to further eliminate institutional barriers, enhance the overall efficiency of the national innovation system, and comprehensively optimize the ecosystem of innovation and entrepreneurship. Strengthen the construction of the rule of law and create a business environment conducive to the development of unicorns and gazelles. The rule of law provides clear norms for the behavior of market entities and solid institutional guarantees for protecting the legitimate rights and interests of enterprises and maintaining market order. Given the special legal issues faced by unicorn and gazelle enterprises in intellectual property protection, data security, equity structure, etc., it is necessary to provide clear legal guidance and reliable legal protection for these enterprises from the top-level design dimension, with a focus on strengthening legislation in key areas, emerging areas, and foreign-related fields. Further promote fair competition, build a unified national market, optimize competition law enforcement, reduce market barriers, prevent abuse of power and improper intervention, and ensure that enterprises compete in a fair market environment. Strengthen judicial fairness, especially to ensure that private enterprises can obtain timely and fair rulings in legal disputes, protect litigation rights, and prevent judicial corruption. Strengthen the construction of legal aid and legal service system, and provide more convenient and efficient legal services for technology innovation enterprises. Deepen the implementation of structural tax reduction and fee reduction policies, and support the rapid development of scientific and technological innovation and manufacturing industry with practical actions. The latest data released by the State Administration of Taxation shows that in the first half of this year, the main policies supporting technological innovation and manufacturing development included tax reductions, fee reductions, and tax refunds of 1652.6 billion yuan. Among them, policies supporting the cultivation and development of high-tech enterprises and emerging industries, such as a 15% reduction in corporate income tax for high-tech enterprises and exemption from vehicle purchase tax for new energy vehicles, have reduced taxes by 1916 billion yuan, injecting strong momentum into scientific and technological innovation and the development of emerging industries. In the future, it is necessary to further improve the precision of policy measures, fully leverage the regulatory role of tax policies, and promote the deep integration and coordinated development of scientific and technological innovation and manufacturing industry. Cultivate patient capital and continuously optimize the technology finance support system. In April this year, the People's Bank of China, in conjunction with the Ministry of Science and Technology and other relevant departments, launched a total scale of 500 billion yuan of science and technology innovation and technological transformation refinancing projects, especially set a special line of 100 billion yuan to support the start-up and growth stage of small and medium-sized technology-based enterprises to obtain loans for the first time, and encourage financial institutions to invest more actively in early, small, long-term and hard science and technology investment activities. In June, the People's Bank of China, together with seven other departments, issued the Work Plan on Doing a Solid Job in Science and Technology Finance, which provides all kinds of innovative entities with all-round and life-cycle financial service support at all stages of their science and technology innovation activities. Deepen the supply side reform of finance, strengthen the coordination between financial policies and industrial policies, promote the development of innovative small and medium-sized enterprises in various fields, and make good use of finance to cultivate high-quality enterprises. Focusing on the two cutting-edge fields of artificial intelligence and data industry, accelerating the independent research and development and breakthroughs of key core technologies. Artificial intelligence, as the core force driving a new round of industrial revolution, is reshaping the socio-economic structure and people's way of life at an unprecedented speed. We should continue to increase research and development investment, concentrate efforts on tackling a number of original and leading core technologies, accelerate the development of artificial intelligence infrastructure, improve the development and management mechanism of generative artificial intelligence, consolidate China's core position in the global artificial intelligence map, and provide valuable technological empowerment for unicorn and gazelle enterprises. As a core element and infrastructure of the digital economy, the strategic value of the data industry is increasingly prominent. We should establish a sound data governance system, promote the market-oriented and efficient allocation of data elements, effectively stimulate the potential of data, and open up vast data application space for unicorn and gazelle enterprises. Cultivate according to local conditions and fully stimulate local initiative. Beijing has launched the "Ten Unicorn Policies" to strengthen the position of unicorn enterprises as the main body of technological innovation, support participation in application scenario construction, and increase financial support; Jiangsu Province adheres to the combination of market leadership and government guidance, and explores and cultivates unicorn enterprises with "unique skills" and "hardcore technology"... Currently, various regions across the country are actively practicing and exploring to lay a solid foundation for cultivating unicorn enterprises. We should stimulate the internal driving force and innovation vitality of the whole society, formulate differentiated cultivation policies and development paths based on the actual situation of resource endowment, industrial foundation, technological strength, and market demand in each region, deepen industrial cooperation in the eastern, central, and western regions, maximize local advantages, and promote the rapid growth of innovative enterprises. Combining rural revitalization, explore the cultivation of gazelle and unicorn enterprises in agriculture and rural areas. Design personalized policy support programs for enterprises of different types and development stages. Strengthen the coordination and organization of innovative resources, and promote the integrated development of scientific and technological innovation and industrial innovation. Emphasis should be placed on coordinating effective markets and proactive governments, while realizing market mechanisms, fully leveraging the role of local governments in resource allocation, policy guidance, service guarantees, etc., encouraging active participation of social capital, and forming a diversified support system guided by the government, led by the market, and participated by society. Break through and establish simultaneously, establish first and then break through; Strengthening the foundation and nurturing innovation, seeking progress while maintaining stability. By continuously promoting reforms and further exploring institutional design and cultivation paths with Chinese characteristics, unicorn enterprises will surely usher in broader development space. (Liao Xinshe) Huang Yinxu, associate professor of the Law School of Renmin University of China, and researcher of the Chinese Academy of Law and Civilization