100 Answers Chosen by Capital | 2026 "Most Watched" Company List Selection Now Open

"Who gets seen, who gets backed." Produced by 36Kr Venture Capital Research Institute

By Jing Luo, Meng Du

As capital sheds its impatience and returns to rationality, as concepts give way to execution and tangible results become the industry's hard currency, and as AI fundamentally reshapes industrial landscapes while hard tech solidifies the foundation of progress, the primary market in 2026 has entered a new venture capital era dominated by real value. Another wave is building — who is being seen, who is being backed?

Market logic has completely evolved: from blindly chasing trends to carefully positioning for the long term; from buying into capital narratives to betting on technological moats, commercial growth, and proven paths to monetization. The industry confirms its rules in the plainest terms: what wins market recognition and survives economic cycles is never hollow capital froth, but solid core technology, clear commercial闭环, and verifiable, steady growth.

From a technology perspective, AI has long escaped the lab and embedded itself deep in industrial infrastructure. Large models, intelligent agents, embodied intelligence, and robotics are all advancing toward large-scale deployment. Domestic computing power, algorithms, and data tools have formed a fully self-controllable stack. AI is deeply integrating with thousands of industries, producing replicable, profitable, mature development paths. From a capital investment perspective, the industry has fully bid farewell to the crude model of burning cash for scale, turning instead to rigorous standards where revenue must be verifiable, moats quantifiable, and growth sustainable. Capital continues to concentrate in quality enterprises with leading technology, solid scenarios, and proven commercial闭环.

Standing at the critical juncture of industrial restructuring and value reshaping, 36Kr's "2026 Most Watched" Company List is officially open for submissions! "Most Watched" is not simply traffic heat — it is growth certainty validated jointly by the market and capital — it means the focused attention of more top-tier investors, full-network exposure and in-depth coverage opportunities, helping enterprises gain authoritative industry recognition, and ultimately standing at the core of industrial trends.

We will adopt an investor perspective, rely on industrial professional dimensions, and adhere to rigorous data standards to screen for benchmark enterprises capable of surviving cycles and carrying long-term investment value, recording those answers selected by capital, and letting more quality innovative enterprises and projects be noticed, be seen!

Part 01 — Award Categories

We seek two types of era-defining targets that capital must watch

"Top 100 Companies Most Watched by Investors"

All sectors, all stages, selecting the 100 unlisted companies with the greatest investment value this year. You could be:

In hard tech, intelligent manufacturing, enterprise services, healthcare, new energy, new materials, consumer tech, or industrial internet; a startup with clear business models and eye-catching data growth; backed by top-tier institutions, or currently opening your next funding round; occupying a leading position in a niche赛道, or possessing disruptive innovation capabilities.

"AI/Embodied Intelligence Projects Most Watched by Investors"

Anchored to the AI main航道, seeking benchmark projects that are technologically hard, scenario-solid, and commercially proven. Including but not limited to:

Large models, small models, multimodal; AI Infra, computing power, algorithms, data tools; embodied intelligence, robotics, autonomous driving, AI + industry applications; AI companies that can land, deliver, and generate real revenue.

Part 02 — Selection Criteria

Using investor logic to select companies with real value

Growth Potential 25%: Revenue/order/user growth rate, commercial闭环 and sustainability;

Technology Strength 25%: Core moats, R&D investment, patents and innovation;

Capital Appeal 20%: Institutional recognition, funding rhythm, subsequent growth space;

Industrial Position 15%: Scenario落地, position in the industrial chain, industry empowerment;

Influence 15%: Team background,赛道 benchmark status, long-term certainty.

36Kr "2026 Most Watched" Company List

Officially open for submissions!

Scan the QR code below to apply!

Image source | Unsplash

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