Shanghai to get help from angel investors
Print Edition
THE China Young Angel Investor Association, comprising over 60 angel investors, intends to help the city attract investment and boost innovation.
Angel investors are individuals who provide capital to startups in the initial stage. They also give entrepreneurs resources they require in the initial stage. Angel investors invest 10-20 percent of their annual income, normally US$100,000 to US$1 million, into startup firms.
The association, which opened a Shanghai branch yesterday, helps the investors build networks to share research and pool investment capital.
“Shanghai has a developed finance system and residents with considerable consumption abilities,” said Zhang Min, Empower’s founding partner, who is also the chairman of the association’s local branch. He added the association will contribute to the city’s innovation level.
The city has great investment opportunities in lifestyle and mobile Internet as well as chip and smartphone design, said Wang Lijie, founder of PreAngel.
Shanghai has a long-term strategy to transform the city’s economy into an innovation-driven one.
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