New Opportunities for Internet Startups

Allured by the collaborative advantages of Virtue Inno Valley, Fu Xing decided to settle his team there.

Service Fuels Startup Development

Attracted by the collaborative advantages of Virtue lnno Valley, Fu Xing, founder of Beijing ANPPLE Technology Co., Ltd., decided to settle his team there. “We moved in in 2013. Virtue is a professional incubator for startups working in mobile Internet, which is what drew me. Since all tenant companies work in largely the same realm, we can compare notes and learn from one another’s experiences. As an incubator, Virtue also helps us find clients and investors,” Fu said.

Liu Xiaofan said that traditional incubators usually gain profits through rentals. Virtue lnno Valley, however, sublets its space at a 40 percent discount. It is devoted to providing value-added ser-vices for entrepreneurs and finding needed resources for them. When their products are put online, the innovation valley also helps tenants find marketing partners and investors.

“Capital and market guidance are what startups need most. The innovation valley has 100 quality mentors for technology, media and telecommunication to help startups to take up projects and speed up their development,” Liu said. In addition, it also established a fund of RMB 10 million to provide startups with seed capital.

Fu Xing benefited from Virtue’s services. “The innovation valley has unrivalled advantages compared with other incubators, thanks to the targeted and practical mentoring by its team of highly competitive professionals.”

Liu added that these mentors include experienced investors and seasoned entrepreneurs as well as senior experts with deep understanding of Internet industries. These people are willing to provide their expertise, share their experiences and help nurture the startups. Business teams, the innovation valley and mentors are bonded together with common interests. The startup incubator provides funds and space, and mentors lend their support through their experience and resources.

37mhealth, another tenant at Virtue, was founded by graduates of the Beijing University of Aeronautics and Astronautics. In the beginning, it developed intelligent hardware, including a blood pressure management device. After setting up shop at Virtue lnno Valley, their innovation mentor suggested an adjustment in their development direction. After shifting to cloud services, the company has undergone rapid growth. It received RMB 200,000 in seed capital from the incubator and a further RMB 10 million from investors.

Last February Virtue lnno Valley reached an agreement with Wayra, a subsidiary of Telefónica, which gave all startup teams at Virtue access to Wayra’s global innovation network.