Incubators and Accelerators


Incubators and Accelerators

Innovation Works returns. After Kai-Fu Lee recovered from his illness, Innovation Works pushes hard for its QunYingHui (群英会). It’s similar to YC batch program; moreover, it’s non-profit. It’s a collaboration among Innovation Works, ZhenFund (真格基金), and LongLing Capital (隆领投资). Now they’re open for the 3rd batch application. “The incubator for 100 million RMB entrepreneurs”, Innovation Works has produced more than 25 startups that have valuation more than 100 million RMB.

创新工场 – Innovation Works

• Founded by Dr. Kai-Fu Lee (previously, head of Google China and founder of Microsoft Research Asia).

• Invest broadly across the software-enabled IT space, including mobile Internet, consumer Internet, e-commerce and cloud computing.

• Fund from seed stage through Series A financing rounds, and follow-up at Series B selectively.

• Offer value-added operational services, including in  areas such as user experience/design, product, marketing, hiring, legal, government relations.

• Founded by Dr. Kai-Fu Lee (previously, head of Google China and founder of Microsoft Research Asia). Popular portfolio companies include WanDouJia (豌豆荚), ZhiHu (知乎),  HahaPingChe (哈哈拼车), LeTV (乐视TV), Meitu (美图网), BaoZou Manga (暴走漫画), etc.

With the rise of Incubator 3.0 in China, incubators become more diverse, creative, and integrable with multiple layers of services. The space + basic services model can’t full-fill the increasing needs from entrepreneurs, expedite the formation of  many value add services such as connecting with corporate ventures and institutional investors, providing open platforms, and integrating with mentorship programs. 3W is one of the examples.


• WeWork of China. Invest in e-commerce, games, social, online education, fintech, two-dimensional content, big data, cyber marketing, smart hardware, and mobile healthcare.

•Offer seed funding 3W fund of 500K RMB and incubate ideas from 0 to 1.   

• Provide complete services Including 3W Co-Work Space + 3W Venture + 3W Startup School + /3W Headhunter + 3W Coffee (product marketing/distribution)

• Rapid expansion to 9 cities and 12 spaces. Successful portfolio companies include Dudu Bus (嘟嘟巴士, internet + transportation,Series B 1billion RMB), Miaoji Travel (妙计旅行, AI+ big data, Series B $2 million), and Sexy Salad (好色派沙拉, O2O delivery, Series A)

天府软件园创业园 -Tianfu Software Park

• 12 months program. Move in co-working space. Invest in mobile internet, mobile games, fintech, e-commerce, smart hardware (wearable, IOT), digital healthcare, and life style.

• Include both incubator and accelerator program which fund seed stage (ideation) and later stage (company has incorporated, product launches, and has a team of more than 15)

• Government support. Up to 5,000,000 RMB seed funding, and up to  5,000,000 RMB angel funding. Up to 400,000 RMB government special funding support.

• Total of 888 startups (624 has graduated, 264 currently in the program). 4,200 deal flow. Total revenue of the portfolio companies have produced in 2015 is 2.1B RMB. Total VC funding is $200 million.

• End-to-end ecosystem from college innovation hub -> co-working office -> incubator -> accelerator  -> industrial park (product sales and distribution)

氪空间 –  Kr Space

• “创业公司完成第一轮融资的地方”,0 RMB - 0 Equity.

• Fund pre-A startups and product-driven teams with less than 15 people (optimal 5-10).

• A community of more than 100 talented entrepreneurs, total valuation of the graduated companies is 4.5billion RMB, 97% of the startups complete series A.

• Eliminate the medium, Kr Space has developed an app (创投推手) to connect entrepreneurs and investors directly to build a new movement of (全生态投行时代). IDG, Northen Light(北极光创投)、FreesFund (峰瑞资本)、Banyan Capital (高榕资本)、China Growth Capital (华创资本) become the pioneer users of the app and many other thousands of investors.

With the dominance of BAT in China’s internet landscape, the kingmakers Baidu, Alibaba, and Tencent have developed their own incubators/accelerators.

• 百度创业中心

• 阿里百川创业基地

• 腾讯开放平台/众创空间