Companies want to provide the physical and digital foundation for cross-border businesses and online marketplaces to flourish
InnoSpring, a US-China technology start-up incubator, has teamed up with Alibaba as it prepares to launch the Alibaba Innovation Centre in Jiading, China.
The joint venture is in response to rising demand from US and global start-ups seeking resources and a ready ecosystem to expand business operations and market share in China and beyond, the companies said.
US, global, and Chinese companies seeking to accelerate growth can leverage the Alibaba Innovation Centre along with InnoSpring’s Shanghai Hongkou Incubator and its four other satellite locations in the area as a landing pad for expansion.
The centre’s cloud service offerings and commerce infrastructure -- along with InnoSpring’s ecosystem of investors, partners, services and events -- provide the physical and digital foundation for cross border businesses and online marketplaces to flourish.
“Our joint venture with Alibaba underscores the importance of close collaboration between industry giants, government, associations, and startups,” said Dr Xiao Wang, chief fire-starter and general manager, InnoSpring Silicon Valley.
“By working together to provide a vibrant ecosystem for start-ups, we collectively push technological boundaries to create open, global, and ‘borderless’ platforms for innovation.”
One of the first joint venture initiatives was the introduction of Demo Day. With additional support from Jiading District government and Tsinghua Entrepreneur and Executive Club (TEEC), the day-long event welcomed US start-ups to demo and pitch to a panel of investors.
The inaugural batch of startups hailed mainly from the areas of biomedical sciences and intelligent manufacturing, and they presented to more than 10 global investors including: SIMIC Holdings Co; Shanghai Jiading Venture Capital Management Company; and Northern Light Venture Capital.
With resources from TEEC’s entrepreneur network and the Alibaba ecosystem, InnoSpring and partners are aiming to promote and develop Jiading as a global centre of innovation in areas of smart cars, biomedical sciences, intelligent manufacturing and robotics, and the Internet of Things (IoT), specifically in integrated circuits.
“This is an exciting venture for InnoSpring and Alibaba, two companies that have great entrepreneurial expertise and passion for the global exchange of business and technology innovation,” said Eric Cheng, general manager of the Alibaba Innovation Center (Shanghai Jiading) and the InnoSpring Shanghai Hongkou Incubator.
“We look forward to working with exciting start-ups from around the world and helping them jumpstart their enterprises in China and across borders.”
Alibaba Group said its mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a company that lasts at least 102 years.
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