Program to spur development of startups

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May 30, 2018

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Program to spur development of startups

By Tracy Li | 00:01 UTC+8 May 30, 2018 |

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EY yesterday unveiled a program for high-growth enterprises, together with Shanghai’s Caohejing High-tech Park, in a bid to facilitate the high quality development of startups.

Specifically, EY will arrange counseling services for selected high-growth enterprises and provide related resources. In addition, the consulting firm will also assist high-growth enterprises in formulating their business plans and identifying business opportunities and challenges.

As part of the agreement, Caohejing High-tech Park said it will provide flexible office space, incubation services, the latest science and technology information, as well as preferential policies and development platforms to support the development of high-growth enterprises.

Philip Leung, EY’s China market leader, said they want to inject new energy into the development of China’s high-growth enterprises. By teaming up with the park, EY aims to quicken the growth of innovative enterprises and offer them mentoring services and valuable strategic support.

The program will focus on promising startup projects in areas such as artificial intelligence, innovative medical devices and Internet of Things, which will be the key drivers for the new round of industrial revolution.

Benson Ng, EY China’s digital hub lead, noted that although a rising number of companies are applying AI to their business models, some of them are not completely sure why they should adopt the technology and what the benchmark is for success.

“Cultivating corporate clients and sharing successful cases and application scenarios is an urgent matter,” Ng said.

Set up in 1984, the high-tech park now boasts 3,500 enterprises, with 86 Fortune Global 500 firms having their regional headquarters or research and development hubs in the park, said Wang Zhonghao, director of the park’s incubation department.

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Program to spur development of startups

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