Startup parks give entrepreneurs a chance to grow their business
Print Edition
There are about 10 startup parks along a 3km stretch of Caoyang Road. More than 420 start-up companies have settled in these parks, employing over 4,000 people.
Li Fengnian, founder of Easy Business, said convenient transportation had attracted him to set up his company on Caoyang Road. Easy Business provides Internet services for companies that want to extend their business online. After five years, Easy Business now has an annual trade volume of 150 million yuan (US$24.17 million) and rents an entire building in a startup park.
Li is right about transportation. There are stations for Metro lines 3, 4, 11 and 13 on Caoyang Road. It’s easy for passengers to travel around the city.
For Xu Rui, vice general manager of Muhe Network, a mobile game company, the startup park benefited him in a different way.
Phoenix Media acquired 64 percent of Muhe’s equity for 310 million yuan in 2013, which helped Muhe develop into the company it is today.
Muhe Network is now estimated to be worth 700 million yuan. Muhe Network and Phoenix Media first made contact at a tea art salon organized by a startup park on Caoyang Road.
Tanjia 28 has held a weekly salon for many years. The salon has different topics every week, and it’s a nice platform for entrepreneurs to share experience and information.
There are many other companies like Easy Business and Muhe Network that have grown from “small seeds” to “big trees” after choosing to set up an office on Caoyang Road.
Jintie Cloud Center recently provided free space for newcomers and invited experienced businesspeople to help young projects. Seventeen projects have been implemented, so far, because of it.
This year Putuo will complete the construction of the 8,000-square-meter Putuo Youth Entrepreneurship Demonstration Park, the 10th along the Caoyang Road.
Currently the parks include Tanjia 28, Jintie Cloud Center, Caoyang Innovation Park, Changfeng Innovation Park and Entrepreneurship Star Factory.
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