Move for SK start-ups to spur China’s innovation
Print Edition
SHANGHAI plans to attract up to 10 start-ups from South Korea under the first-of-its-kind Import program with the move seen as targeting a growing awareness of China, Shanghai Daily learned yesterday.
Innospace, one of the leading incubators based in Shanghai, plans to draw five to 10 South Korean start-ups in the second half of this year as a part of its cross-border program, it said yesterday.
The move to draw the start-ups is aimed at sparking a growing awareness of China’s innovation industry as well as the potential market in the world’s second largest economy, Innospace said.
“Most of the start-ups will focus on developing products in the areas of technology, media and telecom, and target a broader market in China and other Asian countries,” Zhang Yanjun, deputy general manager of Innospace, told Shanghai Daily.
The program Import, the first of its kind in Shanghai, is backed by the Korea Institute of Start-up and Entrepreneurship Development which is affiliated to the South Korea government’s Small and Medium Business Administration.
“With more incubators and international resources coming to the city, Shanghai is expected to form a cumulative effect on attracting talent and building a healthy innovation ecosystem,” Shao Jie, manager of Innospace, said.
Shanghai strives to become a global technology innovation center by 2020.
In May the city initiated 22 measures, including providing incentives for domestic and foreign professionals to come to the city and supportive tax policies, to further that goal.
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