Large incubator strategy aids growth of small and medium enterprises
Print Edition
More than 20 companies made their best efforts to win investment from a private equity company on November 29 at the Jiading District Large Incubator Service Center.
It was the 22nd such gathering held at the center since it opened in late September when the district government introduced the strategy to boost its “business incubator” function.
Zihuai Capital, an investment company, is one of the frequent visitors to the center.
“We have held meetings at the service center and are interested in cooperation with some companies,” said Ding Dan from Zihuai Capital. The firm has already invested in Yunsheng Bamboo Products Company in Jiading.
Besides the center, there are 33 incubators in economic zones in Jiading and numerous nongovernmental incubators across the district helping enterprises make the best use of their resources.
The larger mission
The mission of the Large Incubator Service Center is to help these small incubators push forward economic development in the area, said Tan Bing, director of the Jiading District Economic Commission.
The service center has set up a database of more than 3,000 plus enterprises, each with an annual output of more than 20 million yuan (US$3.28 million).
It has attracted the attention from global investment companies such as Morgan Stanley, which offer giving free training in Jiading in the hope of getting in touch with the enterprises here, according to Tan.
So far, there are more than 120,000 enterprises in Jiading and 800 investment and management firms with funds totaling around 70 billion yuan.
This year several business competitions have been launched in Jiading to help young entrepreneurs with innovative, promising projects to win investment.
Financial help
Chen Mo, 24, received her first investment of 500,000 yuan last month, from Nanxiang Venture Capital Investment. She launched an online shop selling home decoration products last year in Nanxiang Shineland.
Chen used the money to hire more employees and develop new products.
“With this investment, more investors come to know us and start contacting us,” said Chen.
The shop is the fifth company to receive financial help from Nanxiang Shineland, while nine others will soon get investment totalling 18 million yuan.
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