What Are Chengdu Hi-tech Zone's Tips for Cultivating Three Unicorn Companies within One Year?

What Are Chengdu Hi-tech Zone's Tips for Cultivating Three Unicorn Companies within One Year?

PR Newswire

CHENGDU, China, Oct. 29, 2018

CHENGDU, China, Oct. 29, 2018 /PRNewswire/ -- It was known from Chengdu Hi-tech Zone on October 19th that, the new retail brand of wines, 1919, officially announced to complete its C-round financing. After obtaining a strategic investment of RMB 2 billion from Alibaba Group through this financing round, it has officially promoted to be a unicorn company, right the third one in Chengdu Hi-tech Zone this year.

It is said by relevant head that, Chengdu Hi-tech Zone will strive to cultivate 10 more unicorn companies in the next three years.

Capital and site are the fundamental problems that most startup companies are facing with. In order to solve the problem of capital, at the early half of this year, Chengdu Hi-tech Zone set up the unicorn investment foundation with an overall scale of RMB 10 billion to help high-growth potential companies that own innovation technologies with innovation business modes to handle with the financing problem, while in order to solve the problem of site, Chengdu Hi-tech Zone set up an incubation network system including special industrial park, maker space, incubator, accelerator, special building, and professional company with an incubation carrier area of 4.3 million square meters.

Besides, Chengdu Hi-tech Zone also set up gradient cultivation system of new economy companies to provide more targeted policy support to companies in different stages respectively. For examples, new companies with growth potential can be awarded with at most RMB 1 million for once as the startup capital and rent subsidies; and it sets up special-staff service mechanism for potential unicorn companies to provide full-range supporting including talent introduction cultivation, investment and financing, market expansion, and achievement transformation.

With the support of a series of policies, except for the above three unicorn companies, Chengdu Hi-tech Zone has also had a group of "potential unicorn companies" in recent years including XW Bank, Revotek, GIMI Technology. Among them, Revotek, a biotechnology company, conducted the global first vivo trial of planting 3D bio-printing blood vessel in rhesus monkey with great success, while for being as the founder of Chinese non-screen television, GIMI Technology has obtained the CES Best Innovation Award, Red Dot Product Design Award, and IF Design Award in recent years.

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