New Opportunities for Internet Startups

Virtue Inno Valley is an incubator, helping new businesses enter the mobile Internet and cultural industry.

A New Upsurge for Internet Innovations

With the rapid rise of telecommunications and smart phones, the mobile Internet is flourishing. In June 2012 more than 388 million Chinese used mobile devices to access the Internet, for the first time in history exceeding those who used computers – an epoch change in China’s Internet industry.

Wandoujia (peapod), an app for Android smartphones, is the first product incubated by Innovation Works, another startup hatcher. It is used to facilitate data transmission from PCs to phones. Formally launched in 2010, the app now boasts over 300 million users with 800,000 or more new users every day.

Baozouwuxia, a popular online game, is produced by KOD Games, based in Virtue. After moving into the innovation valley the company got funding from Li Zhu, executive director of Virtue and co-founder of Innovation Angel Funds. Today KOD has an estimated market value of over RMB 100 million.

“Now the Internet is greeting the third startup wave. Only in this era can dreams turn into reality,” Fu Xing said. Many startups in an incubator have witnessed their peers ascend to billionaire corporations over a few years. These cases serve as an exemplary model for Fu and other pioneers in the field, and spur them to seek their fortunes.

With the business environment constantly improving across China, valuable opportunities for business pioneers are emerging. Jumei.com was first established in Zhongguancun as an online shopping mall for discounted cosmetics. After investments from angel investor Xu Xiaoping and Sequoia Capital, it rose to China’s No. 1 online cosmetics retailer over three years, with a monthly revenue of RMB 600 million. On May 16, 2014, Jumei.com was listed in the New York Stock Exchange with a market value over US $3.5 billion.

This serves as a vivid illustration of the astonishing potential for enterprises in the Internet era. A big dream can easily come true.