The world’s leading finance and venture capital firms hold a successful summit on October 24th, 2015, titled “2015 global new finance& Venture incubator Summit Forum” in the Grand Conference Hall of Hangzhou Future SCI-TECH City, the one of four China’s city on national level which is dedicated to the development of Science and Technology. The attendees are world-class financial firms and incubators, such as: Morgan Stanley, Plug And Play, Techstars,The Forum was hold by the Financial Bureau of Zhejiang Provincial Development Association, The Euro America Financial City (EFC), and Plug & Play. The event invited world’s leading investors as guests, includes: PayPal’s early investor, Peter Davison, Chinese top venture capital firms: Cybernaut, Innovation Pastures, Yinxinggu Capital. Huawei, Philips, Faurecia, Intel and more than 20 Fortune 500 companies also attended this event. More than hundreds of Startup elites gathered here participated in sharing insights and new opportunities emerged in New Finance and Start up and Innovstion. This forum has become a great meeting for exchange and merging of new ideas and concepts in the field of New Finance and Startup Incubation. It is also an occasion where capital meets startup. It creates a deep impact for the merging between new finance and startup incubation and their sustainable development in the future. What role should new finance play in the transition of China’s economy? How should Future Sci-tech City joins hand with other international resources in creating China’s “Silicon Valley”? Those issues become the focus of this forum.
The Forum is a carnival for the venture incubators in China where high-quality venture capital get a great chance to meet with startups. At the China’s economic transition period, what makes the mass startup and global standard finance the positive impact? What role will Hangzhou and Zhejiang Province play to strengthen its new trend of innovation and entrepreneurship? What Hangzhou Future SCI-TECH city future plans to create China’s “Silicon Valley”? These problems have become the focus of the forum.
New Finance: The key to the future of Zhejiang province and China
In recent years, China’s economy is facing downward pressure, falling economic growth sparked anxiety. Economic growth need to find a new impetus, with the government’s attention and encouragement, “new finance” start to become a hot topic.
“We should think about the economic downtown objectively” Fan Jianping, the national Information Center chief economist and director of economic forecasting said during the forum. “From 1978 to 2010, China has an average 9.8% of growth rate during the 32 years, while only a few of countries had 20 years continuously growth rate over 9% in the history.
Now, the 2015 “World Finance and Venture Capital Forum” is about to begin, and to set in motion events that will be felt throughout the world and bring Hangzhou Future SCI-TECH city to a new level in the world finance market. But he pointed out that since 2010, the increase of labor, land and capital costs makes the growth rate hardly to maintain a high speed.
“Chinese Traditional industry is currently under adjustment, while the country is still nurturing new industries when it conversion from the traditional to modern, so the economic slowdown in recent years became more obvious.”
Fan Jianping emphasized that new impetus to China’s future economic growth depends on new financial. Data from the first half of 2015 show a strong rise of new finance; the first quarter of the China’s new finance business has contributed to30% growth of GDP. He believes that the future will belong to financial technology and new productivity.
Paypal early investor Peter Davidson said right now is best time for strong startups in China.
“To become a successful entrepreneur, one of the most important factors is to choose the time you enter the market, although China’s economic is experiencing downturn, but if you have an open mind, and you are willing to bear the investment risk, now is certainty the opportunity to lay a solid foundation.”
Davidson believes that Chinese government is creating an environment for innovation and entrepreneurship which will greatly boost the Chinese economy in the future.
“To promote economic development, China must have more magnates just like Alibaba and Huawei because most of the revenues and jobs come from these companies.” He also think that China should provide a heathy Entrepreneurship Ecosystem, provide the necessary capital and personnel, so as to allow those who have the opportunity to become like AliBaba’s world-class companies. In turn, the company will give “Feedback” in the local economy and the national economy.
Vice president of Zhejiang Finance Office Chuntian Bao said that new finance has contributed a 1.6% of GDP growth rate out of total 8.2%.
The forum topic “New Finance” is one of the breakthroughs of the Zhejiang province’s finance status, Chuntian Bao said. “We hope the Future SCI-TECH city will be as success as Silicon Valley in the next five to ten years!”
As one of four advanced technology cities in China, as well as the only one in southern China, Hangzhou Future SCI-TECH city incorporates a multitude of advanced technologies, incubators and venture capitals in its infrastructure, providing the foundation for explosive growth. It is the ideal environment for startups to achieve their full potential. Due to this ideal environment that so many leading investors and incubators are attending the summit, so that they might partake of such advantages as well.
We believe that Hangzhou being the expertise of private capital compares to Beijing and Shanghai, as well as Hong Kong, and it is in all likelihood to become true, due to Hangzhou’s stellar support for both existing industries as well as creating new sectors. Such growth may even lead to a point where Hangzhou has become the global center of finance.
What makes Hangzhou parallel Silicon Valley?
In this forum, the guests general consensus, because thewell known Alibaba is rising to the creative entrepreneurial atmosphere, sample the country became public a space in Hangzhou, and has the potential to become an international Technology startup center.
Observe the development of London, New York and other major financial centers of the world; they were all united by the drive to innovate and the support from the nation. In short, financial innovation is the driving force behind financial growth.
Take Shanghai, for example. When Deng Xiaoping visited Shanghai in 1991, he pointed out that “Shanghai will be the pioneer of China to achieve in global finance market.” On May 2001, the State Council approved the Shanghai Urban Master Plan, which paved the road for Shanghai to become an international economic, financial, import/export center and metropolis.
Hangzhou is built upon a similar, yet improved foundation – High Tech center “One headquarters, four centers.” As the leading province of massive economy and industrial economy, Hang Zhou became one of the only four Future SCI-TECH cities signed by the government.
Hang Zhou Future SCI-TECH city does not disappointed its investors. Currently, the city’s financial future technology projects more than 250 new registered investment institutions and various Kikinda 70, introduced a total equity investment (management) mechanism 125, gathering managing capital and raise funds reached 30.5 billion yuan, the number and size more than the future of science and technology on the city over the past few years and.
Yan Jianhua, vice president of Zhejiang University said in forum: “I’ve been in Silicon Valley, also visited Stanford University, Stanford University is to learn from Zhejiang University, Stanford University, we have been catching a lot of the surrounding cultivate a forward-looking enterprise. , also located in the city of the future of science and technology of Zhejiang University, we will strive to train more community needed talent. ”
Yan Jianhua introduced, said the support of the provincial government of Zhejiang, Hangzhou municipal government and relevant regional government, Zhejiang University is vigorously promoting the “public a small town”, the educational advantages of Zhejiang University innovation and entrepreneurship, as well as scientific research personnel How superiority butt local economic development.
In addition to its docking Silicon Valley leader and educational resources, the future rapid development of science and technology innovation and entrepreneurial atmosphere of the city and local government support is also inseparable.
Zhang Junjie, the vice president of Yuhang district said Yuhang district always attached importance to entrepreneurship and innovation work, which is an important driving force to accelerate the economic transformation and upgrading, especially in the mass start, the highly innovative Wave era, the government committed to the effective integration of resources, optimize the policy system and improve service delivery model. “It is my dream town district focus on building the new financial and business incubator” intellectual capital integration “model.”
Zhang Junjie introduced, said that since March this year the park opened, the dream of a small town atmosphere of entrepreneurship and innovation continues to climb, accumulated settled more than 380 entrepreneurial projects, gathering more than 4100 entrepreneurial talent, focusing on the development of science and technology finance, angel investors, venture capital, private equity, Internet finance, combined with securities, banking, insurance and other financial instruments, and actively build support entrepreneurial development of the whole process of multi-level financial services system, has now settled in more than 90 financial institutions, 30 billion yuan of capital accumulation management.
EFC join ventured with PNP to make the Silicon Valley of China
In this forum, the most important and most relevant aspect is the Plug and Play (PNP) Eastern Region incubator accelerator opening ceremony “EFC new global financial and entrepreneurial innovation platform,” the curtain.
PNP is one of the world’s first accelerator and the largest accelerator in Silicon Valley now, it focused on accelerating scientific and technological enterprises, it has spawned more than 300 technology companies, including early Google, Paypal and Dropbox and other industry leaders. A total of 180 PNP investment partners, many of them IBM, P & G and other big companies, and create the perfect mentor training system.
The PNP joined forces with the EFC, is bound to the future of science and technology city, Hangzhou into a powerful impetus to the development of innovation, but for the overall economic development in Zhejiang bring enlightenment role, for China’s economic transformation and upgrading of the role played test.
Rahim Amidi, president of PNP incubator said PNP brings the most sincere to Hangzhou, to the Future SCI-TECH city.
Though the structure of the Future Technology City may break the mold, Hangzhou is built upon a sound foundation of solid market structure, high volume, intense agglomeration of startups and a deeply broad sphere of influence.
As the numbers show, there is every confidence that the diversified approach of Hangzhou towards technology, finance and science will continue to generate superb returns and join the ranks of the leading financial capitals of the world, with a solid core of private investment. But, as they say, seeing is believing, and the only way to see the next Wall Street in its inception is to witness its birth at the 2015 World Finance and Venture Capital Forum.
LiJu Chen, vice president of Jiangong Real Estate explained EFC’s operation concept to the guests.
“We hope that in the future a large platform on the basis of science and technology city, to build a more distinctive platform. In addition, we want to build a system in which this platform, its purpose is to project from the beginning of a creative idea, until it becomes horn animal business, can be rooted in Hangzhou, rooted in Yuhang, rooted in the future science and technology city. around entrepreneurs produced an eco-industrial chain, we offer a complete system to serve. In this case, we really can flatten Silicon Valley from the United States into the future science and technology city, made a vertical of Silicon Valley. ”
Liju Chen said that the platform created by EFC will be able to keep the high-quality companies, small to large enterprises to meet a development pathway stepped needs, really good business projects can remain in the future science and technology city of deep plowing, germination, flowering results.