New financiers in Silicon Valley gird startups for Chinese market
Updated: 2012-08-17 10:58
By Chang Jun in San Francisco (China Daily)
|
||||||||
"Speakers at the weekly workshop are knowledgeable about the US market and startup operations. Our neighbors across the cubicle give us very good suggestions," said Jeff Becker, head of marketing for TrustGo, a maker of antivirus applications for mobile devices. The company set up its research and development operations in China and wants to expand into the US.
For Empower Micro Systems, a startup whose marketing focus for now is on China itself, InnoSpring has helped serve as a conduit to 22 local venture capitalists who heard the company pitch its technology for converting electricity between AC and DC.
"Our partners and their connections in China are our biggest advantages," Zhang said. "They are priceless."
In June, another Chinese company showed its dedication to the US startup incubation industry.
Wang Hanguang, chairman of Hanhai Zhiye Investment Group in Beijing, flew to Silicon Valley to sign a contract to buy an 80,000-square-foot office building in San Jose. The contract was signed Feb 17 at an event in Los Angeles attended by Chinese Vice-President Xi Jinping and US counterpart Joe Biden. The deal grew out of the official China-US Economic and Trade Cooperation Forum.
Wang's incubator company, which has $50 million assets and is backed by China's Zhongguancun Science Park, already operates, in Beijing, a business park and five scientific-technology incubation buildings totaling 3.2 million square feet. It also boasts 10 years' experience.
For any startup, "you either grow fast, or die faster," said Zhang. To help push companies along, InnoSpring has introduced a six-month accelerator program for which as many as 10 companies will be selected by March 2013, with each to receive $100,000 in funding.
The entrepreneur also cautioned like-minded people not to follow trends but focus on what they do well: "Be yourself, otherwise you'll lose your character."
Contact the writer at junechang@chinadailyusa.com
Chen Jia contributed to this article.
junechang@chinadailyusa.com
Entrepreneurs at InnoSpring's business-incubator offices in Santa Clara, the biggest city in Silicon Valley, meet for weekly pitch sessions to share ideas about developing their nascent businesses. Provided to China Daily |
- Relief reaches isolated village
- Rainfall poses new threats to quake-hit region
- Funerals begin for Boston bombing victims
- Quake takeaway from China's Air Force
- Obama celebrates young inventors at science fair
- Earth Day marked around the world
- Volunteer team helping students find sense of normalcy
- Ethnic groups quick to join rescue efforts
Most Viewed
Editor's Picks
Supplies pour into isolated villages |
All-out efforts to save lives |
American abroad |
Industry savior: Big boys' toys |
New commissioner
|
Liaoning: China's oceangoing giant |
Today's Top News
Health new priority for quake zone
Xi meets US top military officer
Japan's boats driven out of Diaoyu
China mulls online shopping legislation
Bird flu death toll rises to 22
Putin appoints new ambassador to China
Japanese ships blocked from Diaoyu Islands
Inspired by Guan, more Chinese pick up golf
US Weekly
Beyond Yao
|
Money power |