Science park offers support to promising start-ups
Print Edition
NEXT to the entrance of a university campus on Xianxia Road sits what appears to be just another run-of-the-mill office building. But inside the Science Park of Shanghai University of Engineering Science, as the facility is known, one can find a thriving hive of entrepreneurship and a cradle for tomorrow’s industry giants.
It was at this facility that business incubator SuHeHui took its first steps. Led by Darren Luo, SuHeHui launched its business there in 2012 and has since “successfully incubated” 150 companies and invested in a further 50. Earlier this year, the company also listed in China’s over-the-counter market.
It was the operator of the science park though which provided crucial assistance to Luo’s business in its earliest days.
“We offered three years of support to SuHeHui, until it moved to Linkong Economic Park last year for business expansion,” said Song Qinjian, general manager of the facility.
“We are very glad to see it succeed,” he added.
The science park closely cooperates with the Changning government, incubators like SuHeHui, as well as some of the largest companies in China.
At their branch in Haining, Zhejiang Province, the science park and SuHeHui opened an investment fund with 10 million yuan (US$1.54 million).
“With the help of SuHeHui, we discover and invest in projects with potential,” Song said. “As a science park of the university, we focus on the incubation of high-tech enterprises.”
Plans are also currently underway to set up another incubator at the science park with the help of China Unicom. The telecom giant intends to introduce resources to telecom-related start-ups. There are similar plans in the works for a virtual-reality technology incubator.
Park operators, together with China Unicom and other investors, have also launched a separate incubator for next generation digital technologies related to “digital trade” and “digital city” — two business-development concepts championed by Changning authorities.
But amid all the cold technologies, fortunately there’s also plenty of hot coffee. The facility has its own cafe, where young entrepreneurs, investors and visitors can discuss projects in a relaxed environment.
Before becoming a cafe owner, Li Jun was himself a mentor for entrepreneurs. Now, he hopes that by bringing creative talent and investors together over coffee, his new establishment can serve as another sort of incubator.
“Our work is closely linked to our strategy to build a ‘digital Changning, smart Changning and fashionable Changning’,” Song said.
Strong results
Meanwhile, Shanghai University of Engineering Science is positioning its classes and majors to dock with emerging industrial and technology chains.
Its schools of design, electronics, automobiles and aeronautics provide the facility with technical reserves and advantage in the research and development of mobile-Internet, smart-home and fashion-design.
The science park also draws support from the Changning government. The district governor and university president lead the park together. Local government agencies provide professional services for the park’s daily operation.
The park and its services are open not only to graduates of the university, but also young entrepreneurs from around the country.
About half of the 600 enterprises based in the facility are run by first-time entrepreneurs. Those with potential can acquire financing from the Shanghai Technology Entrepreneurship Foundation for Graduates. For early-stage start-ups, there’s also free and discounted rent.
“Around 32 square meters are free in the first year,” Song said. “Then in the second year, half rent; and in the third year, 25 percent off. Office rent is the heaviest burden for a start-up, but our support allows them to go into battle with a light pack.”
The facility is an offshoot of the Shanghai Technology Entrepreneurship Foundation and as such has access to its own investment funds totalling 20 million yuan.
Over the past three years, it has yielded better results than similar institutions affiliated with Fudan University, Jiao Tong University and the Hong Kong Polytechnic University.
Sources say that “most” of the 120 some projects at the facility which received investment generated “satisfactory” results.
The park also hosts international exchange programs. It is expected to launch a training camp this summer with University of Ulsan in South Korea.
The park helps the start-ups it houses to apply for government funds, hold road shows, find angel investors, receive government subsidies and allocations, and win entrepreneurship competitions. Legal and financial experts also serve entrepreneurs in the park with their expertise.
As if this weren’t enough, there’s also a canteen with tasty food, well equipped conference rooms, a football pitch, a track, basketball and badminton courts and a table tennis room. Saloon, seminars and forums are regularly held in the facility, too.
According to Song, it’s a good place to launch a career and enjoy life. “You do what you’re good at, and let us do the rest,” he added. Some tenants in the park
Cotton Game
This is a video game producer established in 2013. It mainly develops puzzle games featuring visual art effects. It makes video games for the Microsoft XBOX and Sony Play Station systems. Its major games are also available at the Android app stores.
Corswork
It is a software developer that mainly serves financial institutions. Most of its clients are small-and-medium-sized domestic banks. It offers products for core banking systems, bank card systems, operations management and enterprise service bus software. The company has 29 computer software copyrights.
ISmarTV
This is a video cloud operator that provides audio-visual value-added service to terminals like hand-set devices and smart TVs. Major terminal producers and domestic television stations are among its clients. It has more than 300,000 hours of visual and audio resources.
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