So you want to found a startup? Have you considered launching your company in China? It may be easier than you think.
China is achieving superlatives in many national categories, notably for having the most people and fastest growing economy. These two factors make China the number one consumer market for every industry and a prime place to start a company.
In 2014, the Chinese government announced its support for entrepreneurship and innovation. Cities all over the country started offering incentives for startups and innovative companies. From tax breaks to deeply discounted or even free office space and many other benefits, smaller cities worked especially hard to attract companies that would help their regional economy grow in the modern tech-driven entrepreneurial world.
It's not news that China's economy is growing exponentially. With the country's continually increasing wealth, the middle class is also growing and acquiring more and more disposable income. What better conditions to develop and test new products and services?
Whether you're driven by the potential for money, fame, or just have a really great idea, it's an exciting time to launch a startup in China. Companies from China are continuing to set global records from IPO values to ground breaking technology solutions.And while there are many young but hugely successful companies, there is still plenty of room for new small companies to grow.
Are you ready to start but not sure how? With the government support of startups and innovation, dozens of incubators, accelerators, coworking spaces and other resources for entrepreneurs popped up around the country. Four years later, the growth continues and is even evolving, expanding offerings to better meet the needs of the many young domestic and international companies sprouting up in China.
One such company is InnoSpace, the number one ranked accelerator in Shanghai. What started as yet another incubator has now grown to be a full-service ecosystem of resources for startups, providing accelerator services, office space, as well as investment and partnership connections. In 7 years, InnoSpace has accelerated 10 startups worth more than 100 million RMB.They are not afraid to spend money, time, and effort to help promising startups actually succeed and have a 75% 3-year survival rate for their nearly 400 startups.
China is giving Silicon Valley a run for its money. While many countries have a major city that's producing innovative companies, nothing compares to the scale of the Chinese entrepreneurial movement. InnoSpace alone, one of 10 incubators in Shanghai, receives 8,000 applications each year and shows no signs of slowing down.
So whether you have an idea that you're ready to launch or just want to find out more about the startup scene in Shanghai and China, now is the time to take the next step. InnoSpace will share insights and resources as well as case studies of some of their successful startups at GoEast on October 24th. Join us to hear from Shanghai's number one expert in startup acceleration and get on the right path to launch your dream in China.