Center promotes start-up funding
By Fei Lai |
January 26, 2013, Saturday
|
Print Edition
Print Edition
THE Minhang District is working to set up an integrated financial system to help small companies develop innovative ideas and to help aspiring young entrepreneurs fund start-ups.
At a recent conference, 250 high-tech enterprises met with commercial banks, guarantee companies, small loan agencies and "angel" investors to discuss financing mechanisms.
Eight venture capital companies are cooperating with the Minhang Venture Capital Guide Fund, established in 2010. It comprises a master fund of 500 million yuan (US$80.39 million) and has agreements with the companies covering a potential 2.9 billion yuan in financing.
The companies are: Softbank, Legend Capital, DT Capital, Decheng, Joint Fortune Capital, Principle Capital, Qidian Investment and Fangguang Capital.
In past two years, the number of venture capital firms and management companies registered in Minhang increased to more than 50.
Seven projects in Minhang benefited from direct investments of 62.5 million yuan by the end of last year.
An estimated 1 billion yuan will be added to the master fund this year.
Minhang likes to pride itself as a seat of entrepreneurship in Shanghai.
Examples abound. The iStart Entrepreneur Center, located in Xinzhuang Town, is operated by iStart Ventures LLC to support fledgling high-tech companies.
Ele.me, an online meal booking website, moved its headquarters to the center last March. Since then, the company has chalked up rapid growth, establishing branches in Shanghai, Beijing, Guangzhou, Hangzhou and Tianjin. Its average daily revenue has surpassed 500,000 yuan, and the number of franchised restaurants using the site has hit 5,000.
At a recent conference, 250 high-tech enterprises met with commercial banks, guarantee companies, small loan agencies and "angel" investors to discuss financing mechanisms.
Eight venture capital companies are cooperating with the Minhang Venture Capital Guide Fund, established in 2010. It comprises a master fund of 500 million yuan (US$80.39 million) and has agreements with the companies covering a potential 2.9 billion yuan in financing.
The companies are: Softbank, Legend Capital, DT Capital, Decheng, Joint Fortune Capital, Principle Capital, Qidian Investment and Fangguang Capital.
In past two years, the number of venture capital firms and management companies registered in Minhang increased to more than 50.
Seven projects in Minhang benefited from direct investments of 62.5 million yuan by the end of last year.
An estimated 1 billion yuan will be added to the master fund this year.
Minhang likes to pride itself as a seat of entrepreneurship in Shanghai.
Examples abound. The iStart Entrepreneur Center, located in Xinzhuang Town, is operated by iStart Ventures LLC to support fledgling high-tech companies.
Ele.me, an online meal booking website, moved its headquarters to the center last March. Since then, the company has chalked up rapid growth, establishing branches in Shanghai, Beijing, Guangzhou, Hangzhou and Tianjin. Its average daily revenue has surpassed 500,000 yuan, and the number of franchised restaurants using the site has hit 5,000.
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