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Cultural creativity incubator launched in Guangzhou
Update: 2017-08-11     Source: chinadaily.com.cn
A special cultural creativity incubator featuring venture capital and key industrial enterprises was launched in Yangcheng Creative Industry Zone of Tianhe district, Guangzhou, on Aug 8.

The China Science One Internet Cultural Creativity Incubator is named after two key industrial enterprises China Science & Merchants Investment Management Group (CSC) and One Financial. The base covers an area of 7,000 square meters and is expected to attract and foster more premium enterprises and promote the development of Guangzhou's cultural creativity industry. China Science One Internet Cultural Creativity Incubator is the first of its kind in South China. Targeting internet cultural creativity, the incubator has become home to a range of premium enterprises including big data and artificial intelligence developer Summary-Based Answers and toy manufacturer Ptah Tech.

The incubator will take full advantage of its strength in resources in terms of its large number of leading enterprises, improve the way projects are conceived and developed, help enterprises grow, provide investment and foster better teamwork as well as general problem solving.

The cultural creativity industry has become a key investment area for CSC in recent years; the company fostering and playing a key role in the growth of Ptah Tech, Storybook, Fast Company and Front Top Company.

At the launch, Xie Yong, co-president of CSC, said that the company would continue to invest in cultural creative industries.

"We will select the best enterprises among the startups which have core competitiveness, advanced technologies and core products, helping these enterprises to grow into unicorn companies with a bright future," Xie said, adding that more than 100 startups are competing against each other to enter the incubator.

Ke Yuanda, CEO of Ptar Tech said that thanks to CSC, the company has experienced rapid growth. "We had just six seats when we started in 2015 and now our office covers an area of 450 square meters," Ke said. "The incubator offers adequate and systemic services for startups which are beneficial for new enterprises."

After winning the 2016 Thero International Innovation and Entrepreneurship competition last year, Ptar Tech received an investment of 15 million yuan ($2.2 million) and quickly grew up into a company with sales reaching 10 million yuan during the first half year of 2017.

In addition to providing services to brick-and-mortar enterprises, the incubator also helps virtual enterprises such as Guangzhou HeyGears Technology Company. Founded in June 2015, the innovative technology company received investment after just three months of operation in Guangzhou.

More than 200 people attended the launch ceremony, including Liu Hailing, president of Yangcheng Evening News, Liu Junzhi, deputy director of Guangzhou Internet Information Office and Huang Kaixuan, deputy head of Tianhe district.

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