Chengdu plays leading role in innovation, entrepreneurship

Region's position as hub for startups strengthens at the event, Wang Jinhui reports.

As a vital technological center and pioneer in China's new economy, Chengdu in Sichuan province has taken on a leading role as the country strives for innovation and entrepreneurship, according to local officials.

The city's position as a center for startup businesses was further strengthened during the 2018 National Mass Innovation and Entrepreneurship Week, or Shuangchuang, which took place Oct 9 to Monday nationwide with the theme of "high-level Shuangshuang, high-quality development".

Chengdu served as the main venue this year after Beijing, Shanghai and Shenzhen previously, and was the first city in western China to host the event.

The city organized seven important campaigns and 29 special activities, exhibiting its achievements as well as high-quality development under the reform and opening-up over the past decades.

It showcased the new development models of industries such as digital economy and platform economy and latest achievements in innovation and entrepreneurship at home and abroad.

A series of state-of-the-art technological products were displayed in Chengdu including the world's first waterproof sockets, full HD flexible screens, intelligent rehabilitation robots and satellites, as well as glass curtain walls for power generation.

An exhibition hall of the Institution of New Economic Development in Chengdu's Tianfu New Area provided visitors with displays of 80 enterprises and 108 fruitful research results, demonstrating the city's efforts to enhance new economy, innovation and high-quality development.

During the event, an alliance of demonstration bases was launched in Chengdu by 12 provinces, cities and autonomous regions in western China and 26 State-level demonstration bases for Shuangchuang by the Xinjiang Production and Construction Corps. The alliance aims at carrying out cooperative projects and applications for research results in the sector.

"Chengdu, as the place for the main meeting, has become a demonstration area for innovation and entrepreneurship under the spotlight of national attention," said Niu Wenwen, chairman of Dark Horse Group, a company offering startup services.

Niu added that Chengdu is leading the role in boosting startup businesses in terms of creating a good environment and favorable policies.

"There are just a few cities in China who could make a breakthrough in the sector - and Chengdu is one of them."

He said that the company came to the city in 2014 and has witnessed Chengdu's improvement in entrepreneurship environment and its transformation into an innovative and technological zone.

"Chengdu has a solid industrial base in artificial intelligence and it is a good opportunity for enterprises," Niu said.

Megvii Technology Ltd, a Chinese AI unicorn commonly known as Face++ funded by Dark Horse, will set up businesses in Chengdu thanks to the city's large number of qualified software engineers.

Dark Horse has built a 1,400-square-meter incubator in Jingrong town in Chengdu's Pidu district, which is expected to open in November this year.

Its 1,600-square-meter Dark Horse road show center in Jinniu district was recognized by a State-level mass innovation agency.

Niu said that the company plans to launch an industrial base in Chengdu, the third of its kind after the company's bases in Shanghai and Nanjing.

"Chengdu is one of the most developed cities in western China, with many young people and a good technological atmosphere," said Fan Junchao, vice-president of Royole Corporation, a Shenzhen-based manufacturer and startup of flexible displays and smart devices, who has attended the event for two consecutive years.

Fan said Chengdu's role as the main meeting place in the region will further promote young people's enthusiasm for innovation and entrepreneurship. He said he is confident of finding business partners in Chengdu.

Luo Zhuo, chairman and partner of THG Ventures, said that Chengdu is not only home to many prestigious education institutes for cultivating professionals, but also offers a comfortable living environment.

"Innovation and entrepreneurship is no longer a privilege only for big cities such as Beijing, Shanghai and Guangzhou. Chengdu is becoming a strong growth pole for startups amid the return of talented people," Luo said.

He added that THG Ventures takes the technological entrepreneurships as its main investment field and the company is looking for partners in Chengdu.

The city's index for innovation and entrepreneurship reached 85.26 last year, ranking the fourth after Beijing, Shanghai and Guangzhou.

And Chengdu is considered one of the top 10 major entrepreneurial cities in China by Fortune magazine.

Since August 2017, Chengdu has attracted more than 240,000 highly educated young professionals, ranking among the top three in China in terms of net entry rate of talented people. Last year, the city's investment in research and development increased 14.6 percent. The number of invention patents for per 10,000 people grew 18.8 percent. The output value of high-tech industrials was measured in some 1 trillion yuan.

The 2018 National Mass Innovation and Entrepreneurship Week in Chengdu, Sichuan province, showcases achievements and high-quality development under the reform and opening-up over the past decades. Photos provided to China Daily

Royole Corporation exhibits its fully flexible displays during the event.

(China Daily 10/18/2018 page22)

Why a German and a Chinese brought a Startup Grind chapter to Chengdu

(Erik Ackner and Roy Rao, co-directors of Startup Grind's Chengdu chapter)

By Lan Suying, Gao Han

A sharing session themed "Wall Street-Fintech-Big Data" was held Wednesday at a cafe near China's prestigious Sichuan University in Chengdu, Sichuan province. Over one hundred entrepreneurs, incubator staff, sponsors and investors came around to the one of the metropolis' most dynamic neighborhoods and participated in the event. 

Ricky Gu, co-founder of BBD Business Big Data, a leading provider of big data solutions, shared his observations concerning big data, Fintech, and the experience of starting his business in Chengdu.

Titled "A fireside chat with Ricky Gu", this event was the third of its kind held in Chengdu, the "land of plenty" known in the ancient time. It was initiated and organized by the new Chengdu chapter of Startup Grind, a 98-country, 200-city entrepreneur and innovation community, with chapters in cities across the U.S., South America, Europe, Africa and even Australia, such as Cape Town, Berlin, Barcelona and Rio de Janeiro.

(Lively atmosphere on the scene)

Roy Rao, a 29-year-old Chinese young man, is the co-director of the Chengdu Chapter of Startup Grind. The idea of introducing Startup Grind was sparked by his experience with the global startup community in Chicago, the most populous city in the state of Illinois in U.S.. He used to be the organizer of Startup Weekend Chicago and actively involved in Chicago's startup community. 

When asked about his choice of holding such event in Chengdu, he said, "the city has an inspiring entrepreneurship environment, as the local government is putting a large amount of fund to attract talents and encourage entrepreneurship, and there are a lot of uprising entrepreneurs and interesting projects."

Running Startup Grind's Chengdu chapter together with Rao, Erik Ackner, a young German, sees the same promising prospect on the horizon.

Erik told NBD that it is Chengdu's fast changes that keep him stay in the city and start a business. He said, "Chengdu is in the beginning of defining its own industries and its own faith what Chengdu really wants to be, and everybody who starts now and is deeply involved in this can really make a big change."

The 29-year-old event organizer added, "the city is changing so fast, it's like, super-interesting. Also, Chengdu at the moment doesn't have strong competition. If you go into new areas, you might be the only one doing it". 

Founded in Silicon Valley, Startup Grind has now hosted 5,000 fireside chats since its founding in 2010. It has grown to a community of over 1 million members. Rao and Erik applied in last November to begin a new chapter in Chengdu and was approved in December 2016. The two hope their new chapter of a worldwide group of entrepreneurs will get more involved with local entrepreneurs and startups.

The chapter's first event themed "Digital Health" was held at Kr Space in the downtown of Chengdu on Jan. 19, 2017. About 100 people showed up, Erik said.

Erik's perspective towards Chengdu is echoed by Ricky Gu, the speaker at the event.

Gu explained in an interview with NBD the reasons why he chose to start the business here in Chengdu. He said, Chengdu boasts resourceful talents, local government's preferential policies, stirring environment to stimulate entrepreneurship and innovation and open community to share and connect. Any industry, especially the high-tech industry relies its growth deeply on talents, human resource. Chengdu will attract more skilled and professional people in years to come, making enterprises here stronger and more successful.

He added, events like Startup Grind gather people to communicate, share and learn from each other, which is beneficial and valuable for startups, entrepreneurs and people who want to reach out. 

To entrepreneurs, building a network, identifying the interest, and finding the right target are extremely important. That's why many people came to the event, where they want to find partners or investors or can even meet the future Jack Ma and Pony Ma. 

Patti, a participant at Wednesday's event, was deeply inspired by the idea of Startup Grind, "how can I help other people first? And give first before you take." 

She told NBD that she currently works for the University of Washington in Chengdu and plans to start her own business. 

"When I moved to Chengdu, there was nothing like this. I am really fortunate to see the startup culture and community support grow. In the U.S., you cannot start up a business or start up a company without having genuine connections. It is really important to build a networking, for people to think what can I do for you," Patti said.

(Group photo after the session)

Innovation and entrepreneurship revitalize Chengdu. Adopting mass entrepreneurship and innovation policies, Chengdu aims to help more startups keep their footing and achieve growth. Thirty-one state-level makerspaces were set up, incubators covering 1,020,000 sqm were built, 3 Nobel laureate teams were introduced and 20 Academician & Experts Workstation were established in 2016 alone.

With the vigor and energy injected by startups and startup community like Startup Grind, Chengdu strives to make room for imagination of entrepreneurs, turns imagination into reality and pushes to become China's Silicon Valley.

In 2016, newly registered market entities reached 335,000 in Chengdu, up 34.6% year on year. It means that Chengdu has 918 new entrepreneurs every day.

'Uberification' and more in Chengdu's bustling startup scene

JACQUELYN CHEOKbtnews@sph.com.sg

Tianfu Software Park Business Incubator (above) is located in the Chengdu Hi-Tech Zone (a 130 sq km park set up in 1988) and is home to about 180 incubator startups.

Singapore

AS Singapore sets its sights on making one-north - a dusty, industrial site earlier - its future hub for entrepreneurship and innovation, China is looking at Chengdu for its next tech behemoth.

Known as the home of pandas and spicy delicacies defined by the fiery Sichuan peppercorn, this major city in western China is also where the young-at-heart party like everyday's a weekend, according to word on the street.

But behind that facade of a laid-back, unhurried way of life, the tech ambitions of Sichuan's provincial capital are stirring. The Chengdu Hi-Tech Zone (CDHT), a 130-square-kilometre park set up in 1988, plays host to big names in the tech world - like Intel, Dell, Texas Instruments and Foxconn (whose Chengdu facility now produces two-thirds of the world's iPads). There's also a growing pool of young, hungry entrepreneurs who have come from all over the world to build their dream businesses.

"Chengdu has historically been open and inclusive (to new technologies and migrants)," Wang Yi, a Chengdu-based archaeologist and curator of the Jinsha Site Museum, told visiting reporters in October. A case in point today would be Uber.

SEE ALSO: Telemedicine startups confront limits of diagnosis over video

Despite having welcomed the San Francisco ride-booking service barely a year ago, Chengdu is now Uber's No 1 city globally in daily completed trips, beating even New York. In a recent 100 days, close to 3.6 million requests were made in Chengdu for People's Uber+ (a new feature allowing two users to share a ride if they are going in the same direction) - an average of 36,000 requests per day.

"Chengdu has been at the forefront of developing and testing new products that better serve China, and it has the potential of bringing them to the rest of Uber cities in the world," an Uber spokesman told BT.

He credited this to the local government's support for using innovation to advance traditional industries under its Internet+ national strategy, even though Chengdu is fundamentally a sweet spot for Uber and the like (China's Kuaidi Dache and Didi Dache). The city has 14 million people - but only two subway lines.

The Uber China team, recently invited to a "high-level conference" by the Sichuan provincial government, was "very warmly received", the spokesman added. "We were impressed they all know well of Uber's product features, social benefits, etc."

"Uberification" - the rise of mobile on-demand services - is dominating the Chengdu startup scene. Lai Yi Huo (which in Mandarin means "to bring a fire") is an Uber for hotpot; it delivers everything you need for a steamboat meal to your doorstep. 1919 ("to desire alcohol", in Mandarin) is an Uber for liquors and wines; it even promises delivery within 19 minutes. Llama (which will launch in November) is an Uber for personalised videos, which you can direct and pay for remotely.

Chengdu is also the base of Camera 360, one of the world's most popular camera apps with over 200 million users worldwide. Since 2010, the startup has snapped up over US$23 million in investments. It has opened offices in Tokyo and Beijing. The average age of its 200 employees is 27.

Said a Camera 360 spokeswoman: "Chengdu's startup scene is getting more competitive. Today's young people choose to join startups as their interests are in entrepreneurship and innovation. Many startups too choose to start from here and go global."

Pinguo Tech, Camera 360's parent company, was in fact started in the Tianfu Software Park Business Incubator located in CDHT. It's one of 20 renowned mobile Internet companies to have successfully transited from idea to incubator to accelerator to market - a comprehensive four-stage startup process.

Among the benefits the incubator offers are free office space of up to 70 sq m for a year, access to over 100 million yuan (S$22.3 million) in early- stage venture capital and the opportunity to eventually settle and enjoy industry connectivity in Tianfu Software Park's Industrial Park. It has approved some 700 ventures since 2007, over 180 of which are currently undergoing incubation.

Incubators in Chengdu more than doubled from 84 in 2014 to over 200 this year, according to Wang Yujia of Shi Fei Ka Fei, a private sector-led incubator which runs its own marketing agency and 50-million-yuan angel fund for tech startups. He said: "The investment climate in Chengdu really got better this year, although it's still lagging behind that of Beijing, where startups approach investors at idea stage versus at product stage here."

Asked if there are concerns of a startup bubble, a spokesman from the Municipal Government Affairs Service Center said that as entrepreneurship is a market-driven activity, there will be failures and successes; the government's role is to create a conducive, fair environment in which entrepreneurs can compete. Moreover, entrepreneurship is encouraged as there are not enough jobs for the growing number of fresh graduates in the country - over seven million in China, 200,000 in Chengdu in 2014.

The support for entrepreneurship and innovation is aligned, too, with Chengdu's planned economic shift from "Made in Chengdu" to "Invented in Chengdu" - similar to Singapore's very recent economic transformation strategy to move from value adding to value creation.

Singapore-Sichuan Hi-Tech Innovation Park (SSCIP) is a joint effort towards that objective. The 10.34 sq km park in CDHT to be completed in 2020 has secured commitments from 16 companies (mostly in biomedical sciences and interactive digital media) to set up shop with a total investment value of over 19 billion yuan.

Global Startup Competition in Chengdu

JEUNE is proud global partner of the Global Startup Competition that took place from 27 to 29 October 2018 in Chengdu, China. It was organized by Chengdu Local Government Company (CDSI) with David Kovacs, Entreps with Joaquin Boston and CreBiz Factory with Micheal Lee and supported by the European Commission, the European Committee of the Regions, the OECD and EuCham.

On that occasion, JEUNE had the chance to meet local Chinese leaders, to appreciate the innovating ability of China and to better understand the dynamics of one of the strongest markets in the world. We met leading professionals such as the Director of the CDSI, Mr. David Kovacs, The Director of the World Innovation Summit for Education at Qatar Foundation, Mr. Elyas Felfoul, the CEO of the Nunnovation Africa Foundation, MS. Ngwako Ramohlale, the Co-founder of the Young Leaders Circle – the International Economic Forum of the Americas -, Dr. Winston Chan, the President of FIJE, Mr. Juan Barrero and the Vice-president of Sino PLPE, Mr. Bernardo Mendia.
Mr. Micheal Lee, who is the CEO of CreBiz Factory, as well as a university lecturer in Innovation, led the event.

The local government of Chengdu and the Province of Sichuan had a decisive role in the organization of the event and also made it possible for a JEUNE delegation to visit a research centre focusing on innovative solutions in the field of mechanics and electronics with a green-oriented approach.

The works lasted 3 days, during which the start-ups that had passed the previous selections could submit their ideas to the judges, who accurately assessed them. Business ideas ranged from computer security to social networks, from health care to food, demonstrating a great ability and willingness to innovate. The judges evaluated each business idea with criteria related to its creativity, feasibility, competitive advantages and presentation.

 JEUNE was represented by the President, Mr. Andrea Gelfi, the President of the Advisory Board and of EuCham, Mr. Michele Orzan, the President of Entreps, Mr. Joaquin Boston and the CEO of CreBiz Factory as well as member four Advisory Board, Mr. Micheal Lee.

The event proved an occasion for JEUNE to establish better relationships also with European, African and South-American organizations, thus acquiring a wider and more constructive scope. We had the chance to compare the different situations around the world and concluded that young entrepreneurs represent the future on which we should work anywhere in the world.

Startup Ident in Chengdu Tianfu Software Park Successfully Develops the World's First Anti-counterfeiting RAS Chip

CHENGDU, China, Sept. 19, 2018 /PRNewswire/ -- On September 12, the China Trade Association for Anti-counterfeiting invited several domestic authoritative experts to the State Administration for Market Regulation, including Academician of Chinese Academy of Engineering, Ni Guangnan; Academician of the International Academy for Quality and President of the China Trade Association for Anti-counterfeiting, Liu Zhuohui; and University of Electronic Science and Technology of China Professor Chen Weijian, to review the Ident RAS anti-counterfeiting verification system developed by Sichuan Ident Industrial Co., Ltd, and report their findings. The experts agreed that the Ident RAS anti-counterfeiting verification system is cost-effective, safe, and reliable, and can greatly improve the security of traceability systems when it was used as the secure and trusted access point. They suggested the system be promoted and applied as soon as possible.

"The Ident RAS is the best anti-counterfeiting system I have seen so far. It is innovative and should be supported and promoted." Ni Guangnan hopes that the Ident RAS will play an important role in global commodity anti-counterfeiting and traceability and assist the government in building a safer and more transparent market environment. Liu Zhuohui stated that Ident's R&D team has independently developed the first anti-counterfeiting RAS chip in the world, and that the application of the anti-counterfeiting verification system is the most economical and safest solution to the peculiar situation of traceability systems at the enterprise, industry, and state levels endorsing fake goods. It can be widely applied to the goods of many industries around the world.

Traceability systems can work most effectively when an effective anti-counterfeiting solution is provided, but the two fundamental anti-counterfeiting problems, i.e. bulk copying of labels and reuse of used labels, have not been effectively solved. These are global difficulties in the anti-counterfeiting field and the Ident RAS anti-counterfeiting verification system works to solve these problems. Chief Scientist Professor Liu Weining of Sichuan Ident Industrial Co., Ltd. is a member of the MOE New Century Excellent Talents Program and an academic and technical leader in computer software and theory in Chongqing. She said, the R&D team of the Ident RAS anti-counterfeiting verification system repeatedly communicated with enterprises, including Wuliangye, a famous manufacturer of Chinese alcohol, about their anti-counterfeiting needs and devised new ideas and solutions after comprehensively understanding the pain points of the users and industries. The resulting public anti-counterfeiting system uses exclusive anti-counterfeiting e-labels and an original verification platform, standardized safe and independent manufacturer interfaces, and convenient and reliable consumer verification terminals. "The system solves the two technical problems of bulk label copying and label reuse for the first time!" exclaimed Liu Weining.

At the review meeting, Sichuan Ident Industrial Co., Ltd. and the National Product Anti-counterfeiting Traceability Verification Public Platform signed a strategic cooperation agreement. The platform will apply the next-generation Ident RAS anti-counterfeiting verification system as the core support technology to provide a reliable verification interface for national traceability systems so as to help standardize the competitive order of the national market and build an honest business environment. The National Product Anti-counterfeiting Traceability Verification Public Platform is an authoritative, impartial and credible state-level information service platform established under the guidance of the Office of the National Leading Group on the Fight Against IPR Infringement and Counterfeiting and the State Administration for Market Regulation.

After the review, Jiang Feng, founder and CEO of Sichuan Ident Industrial Co., Ltd. was interviewed together with experts and guests at the State Administration for Market Regulation. Jiang Feng said, in January 2017, the company's first-generation verification system for solving bulk copying and counterfeiting of labels was applied by Wuliangye to a glowing response. The first-generation system was focused on the idea of "cost security", the closed-loop control theory and a "black box plus isolation module" model. In June, the world's first Ident RAS (RFID for anti-counterfeiting with Status) anti-counterfeiting chip tape-out was successfully developed, creating a chip-based technology to solve counterfeiting problems all-round. " The Ident RAS anti-counterfeiting verification system is cost-effective and safe. Its application cost is close to that of a QR code." Jiang Feng said, "The variety of anti-counterfeit labels at the product side, the security and convenience of the manufacturer traceable information access, and the general applicability of the consumer's verification terminal provide a technical and economical foundation for our system to propagate quickly." Jiang Feng is fully confident about the future of the Ident RAS anti-counterfeiting verification system.

Sichuan Ident Industrial Co., Ltd. is a startup of Chengdu Tianfu Software Park. In 2015, it was successfully selected in a project review meeting for incubation in the Venture Field of Tianfu Software Park. As of now, the R&D team of the Ident anti-fake verification system has laid out the complete intellectual property rights protection system. The whole system, from the chip design, label packaging, core algorithms, and closed-loop verification platform to blockchain applications, are property of Ident. The system is safe and reliable.

SOURCE Ident

Blockchain Startup Enters China’s Developing Chengdu Region

Blockchain-based startup SophiaTX establishes a presence in Chengdu, which is said to be one of the fastest growing cities in China.

Chengdu has been described as one of the hot new startup hubs to emerge since 2017, thanks to rapid economic development which also happens to skew towards tech.

The region also has ambitions towards becoming the finance hub of China.

Some of the more notable startups hailing for Chengdu include Codoon, internationally-known Camera 360 and Tower, among others.

Beyond just homegrown startups though, with a Chinathat is opening up to foreign talent, opinions have been floating that Chengdu could be a choice foreigner destination to set up their own expansions.

According to Supchina, there are incentives for tech and innovation startups to move to Chengdu, which includes 1 million yuan, startup capital, special visa categories for innovation and entrepreneurship, and three years in Chendgdu’s Tianfu New Zone, a free trade zone for free.

Adding Blockchain to Chengdu’s Exports Supply Chain

China is well-known for is global manufacturing, with sometimes entire brands being produced in the country. Issues behind transparency and trust within the supply chain has attracted SophiaTX into the region, though no doubt Chengdu’s friendly attitude towards tech companies provided a driving force as well.

Swiss-based SophiaTX aims to expand its blockchain solution into China by introducing its smart contracts, while keeping everyone in the value chain accountable via blockchain.

With a global manufacturing cycle, China’s manufacturers and those who utilise China’s factories are able to better answer to demands of sustainable or ethical manufacturing, the fidelity of the supply chain or even figure out where prices aren’t congruent with services provided.

Higher customer demand and scrutiny for morally sound manufacturing processes have led to an increasing need for similar services.

SophiaTX’s move into Chengdu proves that there are, in fact, foreign tech companies that are interested in the region, though whether one would call the project a success remains to be seen as the area continues to develop its tech scene.

Chinese cities are competing to woo overseas entrepreneurs

The authorities are offering foreign founders office space, cash, advice, logistics services and even basic furniture


WHEN Maria Veikhman, founder of SCORISTA, a Russian credit-scoring startup, was considering expansion abroad, China immediately came to mind. She believes the scope there is vast, for two-fifths of Chinese have no credit records. Ms Veikhman settled in Tianfu Software Park, a state-owned incubator in Chengdu, capital of Sichuan province where city authorities “offer almost everything for free”. Complementary facilities range from office space, basic furniture and logistics services to detailed guidance on entrepreneurial methods.

Chengdu aims to catch up with Beijing, Shanghai, and Shenzhen, which at present are in a different entrepreneurial league—together they have over a hundred unicorns, or private startups worth over $1bn. The south-western city allocated 200m yuan ($30m) in 2016 to an innovation-and-startup fund for overseas founders, and hands out up to 1m yuan in cash to well-capitalised foreign startups and joint ventures. If the founders are “top international talents”, such as Nobel laureates, the incentive soars to 100m yuan. Last March Chengdu’s Hi-Tech Zone opened an office to provide startup services for expats, including corporate registrations. Some 3,000 foreigners now work there, many operating their own businesses.

Start Up Business In Chengdu China,Brief Introduction To Makerspaces in Chengdu

According to Chengdu Tianfu Entrepreneurship Action Plan, Chengdu will vigorously develop hi-tech incubator pflatforms including makerspaces.

Here are the most active makerspaces in Chengdu:

Jingrong Start-up Hub

Jinrong Start-up Hub is one of the major maker spaces in Chengdu Hi-tech Industrial Development Zone, with the Sino-Korea Innovation and Startup Park as its core part. Covering an area of nearly 63,334 square meters, it focuses on industries involving mobile Internet, cloud computing, big data, 3D printing and Internet+.

Address: 5th Tianfu Street, Hi-tech Zone

Tel: 028-85313333

Tianfu Software Park Start-up Center

Founded in September 2007, the Tianfu Software Park Start-up Center, as an innovative mobile Internet incubator, has a well-established system featuring startup nursery - incubator - accelerator - industrial park. It focuses on the fields of mobile Internet application, mobile gaming, Internet finance, mobile electronic commerce, and hardware innovation (smart wearable technology and smart home). It offers policy support, office space, training programs and venture investment to entrepreneurial teams.

So far, the center has incubated tap4fun, Camera360, Testbird, Codoon and other leading mobile Internet products. It frequently launches meetups for startups in its Idea Cafe.

Address: Zone D, Tianfu Software Park

Tel: 028-86031523

Wesite: http://www.chuangyechang.com/

Tianfu Jingrong Center

Located in Chengdu Tianfu New Area, the Tianfu Jingrong Center covers 1,160,000 square meters and specializes primarily in IT, intelligent manufacturing and hi-tech service industries. Consisting of 3 zones, Zone A is centered on high technology, finance and Internet technology.

Address：Xinglong Street, Tianfu New Area

Work+

Located in Thinkzone in Chengdu Hi-tech Zone, Work+ is one of the major coworking incubators in southwest China. With an area of nearly 8,000 square meters, the open co-working space with 852 cubes is equipped with supreme facilities like roadshow hall, multimedia video room, hardware lab, dining hall, cafe and those for specialized incubators and domestic venture capital.

As an entrepreneurship platform, Work+ provides entrepreneurs with services invovling administration, accounting, policies and laws, human resources, and fund application.

Address: Building 10, Thinkzone, 339 Fucheng Avenue, Hi-tech Zone

Tel: 028-83586582

Website: http://www.workjia.cn/

Next

Located in Tianfu Software Park, Next covers nearly 1,500 square meters and offers over 200 cubes. As a co-working space, it focuses on mobile gaming, medical treatment and other areas involving the Internet.

Address: Zone E, Tianfu Software Park

Hi-Office

Hi-Office is the first national co-working makerspace in the country recognized by the Torch High Technology Industry Development Center. It is aimed at offering standard co-working space to small and micro businesses and startups.

Address: 3/F Building A, International Energy Saving Building, 89 Cuihua Road, Hi-tech Zone

Tel: 400-900-9088

Website: http://www.hi-coffice.com/

Perfect Cafe

Perfect Cafe is developing very fast. Since 2015, it has set up incubators in many places in Chengdu, providing entrepreneurs with flexible services.

Address: 3/F, building A9, zone A, Tianfu Software Park

Suhehui

Suhehui is an active angel investment institution and a hi-tech incubator. It invests RMB200,000 - 3,000,000 in every start-up and offers it relevant services.

Address: 13/F Haitang Center, 2039 South Tianfu Avenue, Hi-tech Zone

Website: http://www.suhehui.com/

Tel: 021-62565121

E Makerspace

E Makerspace consists of three spaces, each covering 22,000 square meters. It provides startups with strong technological support, investment and financing services in the Internet + areas.

Address: Chengdu Research Institute of University of Electronic Science and Technology of China, Yingbin Avenue, Tianfu New Area

Xietongyucheng Center, University of Electronic Science and Technology of China

2039 Hitang Center, Tainfu Avenue South

Gameworks

Covering 5,000 square meters, Gameworks is aimed at helping startup teams launch their projects and grow quickly, assisting them in attracting investment, improving their R & D ability, quality control and product marketing. It offers servies involving the whole mobile industry chain. It focuses on development and application of mobile games.

Address: 4-5/F, block 1, building 6, Zone E, Tianfu Software Park, Hi-tech Zone

Website: http://www.youxigongchang.com/

Jingrong Town

Located in Deyuan Town, Pixian County, the town is a state-level model for innovation and entrepreneurship. Up to now, covering 400,000 square meters, it has brought in 30 incubators, 1,098 projects and around 10,000 talents. Currently, the town is focusing on the industries of big data, intelligent manufacturing (UAV and robot), Internet+, biomedicine and VR & AR.

Address: Deyuan Town, Pixian County

Tel: 028-87829902

Website: http://www.jrckxz.com

Optics Valley Startup Cafe

Optics Valley Startup Cafe was co-invested by Lei Jun, Chairman of Xiaomi Technology，and Li Ruxiong, Chairman of Optics Valley Software. It focuses on venture capital investment, innovative incubation, entrepreneurship training and angel investment. By now, it has opened 5 branches in the Tianfu New Area, Hi-tech Zone, Jinniu and Qingyang districts, as well as Pixian County.

Address:66 Dayu Road East, Deyuan Town, Pixian County

Website: http://www.suhehui.com

Tel: 021-62565121

MZQ Innovation and Entrepreneurship Area

The Area was open in last October, and is operated with a "market-oriented+ government support" mode. Covering Sichuan University, Chinese Academies of Sciences Chengdu Branch, and Sichuan Conservatory of Music, the Area offers free office space, financing, and training and mentoring to entrepreneurs and innovators.

Address: Moziqiao, Wuhou District

Website：http://www.innobridge.com.cn

Number 8 Platform·Chengdu Youth Entrepreneurship Salon

The platform is geared to help university students to realize their entrepreneurial dreams. Focusing on incubation of projects, it holds regular financing events and entrepreneurship meetups for startups.

Address: East Zone, 3/F, Block A, 8 Lingshiguan Road, Wuhou District

Tel: 028-862032821

Thinkzone

Located in the Chengdu Hi-tech Industrial Development Zone, Thinkzone was recognized as the first state-level private hi-tech business incubator by the Ministry of Science and Technology of China. To date, it has incubated over 1,000 hi-tech companies with an annual production value totaling RMB3 billion, among which 5 have gone public. In 2015, the Rongchuang Teahouse inside the zone became a national makerspace.

Address: 399 West Section, Fucheng Avenue, Gaoxin District

Chengdu Media Group Eastern Suburb Memory · Internet Creative Industry Zone

This is the first Internet creative industry zone built by a media group in China. With beautiful environment and full of artistic atmosphere, it focuses on offering services to leading Internet companies, fast-growing companies, and business incubators (innovation centers).

Address: 4 Middle Section, Jianshe Road South, Chenghua District

Chengchuang Space

Covering 1,800 square meters, Chengchuang Space was established by Chengdu University of Information Technology. It is dedicated to developing the areas involving new-generation IT technology, the Internet, big data, new materials, new energy and modern service.

Address: Chengdu University of Information Technology 24 Section 1, Xuefu Road

SWJTU Makerspace

The SWJTU Makerspace is the first university makerspace in western China. It focuses on the industries regarding mechanical and electrical information, robotics, the Internet of Things, intelligent hardware, artificial intelligence and energy conservation.

Address: 4/F, block C, 144 Jiaoda Road, Jinniu District

Tel: 028-87601498

Website: http://maker.swjtu.edu.cn/

Smart City centering on Southwest Jiaotong University

Co-established by Jingniu District and Southwest Jiaotong University, the City, with the strong support of many scientific academies, a complete industrial chain and the National Laboratory for Rail Transportation, a world leading R & D center, is dedicated to rail transportation R & D and design.

Address: 2nd Ring Road (northwest of the city center)

University and Belt InitiativeThe Chengdu Hi-tech Zone government and University of Electronic Science and Technology of China co-launched the "University and Belt" Initiative, to build a space for commercialization of technological achievements made by universities and colleges and establish a platform for start-ups focusing on the "Internet + innovation."

Address: University of Electronic Science and Technology (Qingshuihe Campus) and surrounding areas

Mingtang Youth Cultural Creative Centre

Covering 3,000 square meters, Mingtang Youth Cultural Creative Centre focuses on the operation of small and micro teams and projects centering on culture and creative industries.

Address: 55 Kuixinglou Street, Qingyang District

Chengdu Makerfun

Chengdu Maker fun serves primarily local entrepreneurs and those from other parts in southwest China. It focuses on the R & D of open source hardware, intelligent hardware, artificial intelligence and additive manufacturing.

Address: Block 6, zone D, 30 Western Intelligence Valley, 30 3rd Wuxing Road, Wuhou District

Tel: 028-85586651

Website: http://makerfun.org/

To facilitate people who want to invest and start up business in Chengdu, here is an introduction of Types of business presence in China: 

Before starting up a business in China, you have to know what are the options. Foreign Investors generally establish a business presence in China in one of five modes: Wholly Foreign Owned Enterprise(WFOE); Representative Office; Foreign Invested Partnership Enterprises (FIPE); Joint Venture and Hong Kong Holding Company.

Wholly Foreign OwnedEnterprise (WFOE) is a Limited liability company wholly owned by the foreign investor. WFOE requires no registered capital and it's liability of equity , can generate income, pay tax in China and it's profit could be repatriate back to investor's home country. Any enterprise in China which is 100 percent owned by a foreign company or companies can be called as WFOE.

Representative Office (RO) is aLiaison Office of it's parent company. It requires no registered capital. It's activities would be: product or service promotion, market research of it's parent company's business, Quality Control liaison office etc in China. RO generally is prohibited to generate any revenue nor generating contracts with local businesses in China.

Joint Venture (JV) is a Limitedliability company formed between Chinese investor and Foreign investor. The parties agree to create a entity by both contributing equity, and they then share in the revenues, expenses, and control of the enterprise. JV usually been used by foreign investor to engage the so called restricted in areas such like: Education, Mining, Hospital etc.

Since March 1, 2010: Measures of Establishment of Foreign Invested Partnership Enterprises (FIPE) in Chinaistaking effect. The regulation, which take effect since March 1, 2010, are known as the Administrative Measures for the Establishment of Partnership Enterprise in China by Foreign Enterprises or Individuals. There's no required minimum registered capital for a Foreign Invested Partnership Enterprise (FIPE) in Shanghai, Beijing, Guangzhou, Shenzhen, Hangzhou and rest cities of China

Hong Kong Company usually been used as a Special Purpose vehicle (SPV) to invest Mainland China. Hong Kong is one of the quickest locations to Incorporate a business. Although a HK company is not a legal entity in Mainland China (Mainland China and Hong Kong, See Wiki 1 country, 2 systems), lots foreign investors, especially investors from Europe and North America still chose to setting up a Hong Kong company as SPV to invest China.

After China's entry to WTO, most industries in China welcome foreign investment, WFOE setting up in China becomes the first option of foreign investment's entity structures instead of Rep. Office setting up in China. At the mean time, for tax purpose, effective licensing system etc more and more investors use Hong Kong as the holding company to invest China mainland, using this offshore company to hold their operations in China.

Business set-up in Chengdu is a big project by itself, which requires financial and time commitments, business management knowledge and China expertise. Identifying a competent agent to manage the complex process will be a cost and time effective way to avoid potential pitfalls . Tommy China Business Consulting has direct connections in the local government

Since 2006, TCBC has been focusing on consulting services for our clients to invest in Chengdu China. We are specialized in establishment of wholly foreign owned enterprises (WFOEs), setting up of offshore companies, trading services, tax minimization, Assist in obtaining government approvals and certificates for running business, negotiate and draft various legal documents provide legal advice, negotiate government officer for Land acquisition. Advising on formation of WOFE and business structures, managing and controlling WOFE in Chengdu China, drafting privacy policies and structuring commercial transactions

TCBC will manage all aspects of incorporation to get you a business license in Chengdu China. We offer a range of company formation services including helping you to set up:

-Wholly Foreign Owned Enterprises (WFOE )

-Representative Offices

-Joint Ventures (Equity/Co-operative)

-Foreign Invested Partnership Enterprises (FIPE)

-HongKong Holding Company.

Contact Tom Lee for business start-ups consulting in Chengdu now.