InnoSpring

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InnoSpring
Type Business Incubator
Industry Venture capital
Founded April, 2012
Headquarters Santa Clara, California
Key people Eugene Zhang
Products Investments
Website www.innospring.net

InnoSpring Inc. is Silicon Valley's first US-China technology business incubator and venture capital firm backed primarily by Chinese investors as a joint project between founding partners Northern Light Venture Capital (北极光创投), Tsing Hua Science Park, the Shui On Group (瑞安集团), and Silicon Valley Bank (SVB) as well as investing partners Kleiner Perkins Caufield & Byers, GSR Ventures (金沙江创业投资), Northern Light Venture Capital (北极光创投), China Broadband Capital (宽带资本), and TEEC Angel Fund. [1]

Business[edit]

InnoSpring provides a start-up ecosystem with a variety of services and support for start-ups, including: seed funding, mentor and advisory services called “office hours”, virtual/physical office space, workshops, in-house resources (accounting/bookkeeping, HR, paralegal etc.), access to its cross-border venture capital and angel investor network, and referrals to professional services for U.S. and Chinese start-ups interested in cross-border development.[2] InnoSpring currently offers a 6-month Accelerator Program that provides up to $100,000 in seed funding on a case by case basis to a maximum of 10 start-up companies.[3]

History[edit]

InnoSpring was founded in April 2012 by Eugene Zhang with the goal of helping China-based technology start-ups expand to the United States, as well as to seed fund American start-up companies with Chinese expansion strategies. In an interview with TechCrunch, CEO Eugene Zhang stated that the mission of InnoSpring is to “help lower the entry barriers for technology companies across borders and enable global companies to succeed at an early stage.”[4] With a focus on encouraging American and Chinese start-ups to expand beyond their home countries, InnoSpring is breaking new ground for smaller companies that wish to enter either the Chinese or American markets alongside major multinational corporations.[5]

As of InnoSpring's first anniversary in May 2013, its 13,500 square-foot office located in Santa Clara, California had grown to accommodate 40 start-ups. In its first year InnoSpring received 300 applications for start-up incubation and angel funding, of which InnoSpring Seed Fund and TEEC Angel Fund have invested a combined $2 million in 12 start-ups from a range of target industries, including clean technology, cloud computing, mobile internet growth, and big data.[6] As Chinese markets continue to expand, the demand for cross-border start-up incubation has apparently increased. InnoSpring's president, Eugene Zhang, explained, "Companies, especially those small-scale US companies, are looking for funds and resources to help them tap booming demand from China's emerging markets. Our knowledge, resources, and connections in both the US and China have provided a quality service for US and Chinese start-ups as they expand beyond their home countries."[7]

Notable Start Ups[edit]

See also[edit]

References[edit]

  1. ^ Empson, Rip. "InnoSpring Launches First U.S.-China Accelerator & Seed Fund, Backed By Kleiner Perkins & More". TechCrunch. AOL Tech. Retrieved 20 May 2013. 
  2. ^ "About Us". InnoSpring. Retrieved 20 May 2013. 
  3. ^ "InnoSpring Opens Office and Launches Seed Fund". 
  4. ^ Taylor, Colleen. "Innospring: The Incubator That Wants To Bridge The Gap Between China & Silicon Valley". TechCrunch. AOL Tech. Retrieved 20 May 2013. 
  5. ^ "China's Next Export: Venture Capital". 
  6. ^ Leber, Jessica. "China Comes to Silicon Valley at One Startup Accelerator". MIT Technology Review. MIT. Retrieved 20 May 2013. 
  7. ^ Yu, Wei. "InnoSpring marks 1 year of incubating tech startups". China Daily. China Daily Information Company (CDIC). Retrieved 20 May 2013. 

External links[edit]