Vibrant startups head to Haidian

The Young Global Leader Learning Journey is held in Binggo Café on Sept 7. The Young Global Leader is an important part of the Summer Davos. CHINA DAILY

Entrepreneur Wu Xiduo will always be grateful for the help his company got from 36 Kr, which provides startups with free office space, Wi-Fi and electricity for three months.

"Thanks to 36 Kr, we received angel investments and became more attractive to job seekers," said the 24-year-old with a smile.

36 Kr is one of the innovation service organizations based in Zhongguancun Innovation Street, which opened on June 12.

The street is in the western area of Zhongguancun, in Haidian district of Beijing.

Su Di opened Cheku Caf, which aims to help startups, in 2011 and at the time the street was full of book stores and food shops.

Su hoped that one day it would be transformed into an innovation street.

About 10 startups including Xiubao Co, an Internet finance company, now work from Monday to Friday in Cheku Caf, which has become a hotspot for visiting investors.

"What Xiubao lacks is not capital or technology, but business partners and I have now found such partners," said Wang Jian, CEO of Xiubao Co.

Wang and other customers at the caf can work there for a whole day at the cost of just one cup of coffee, worth 20 yuan ($3.26).

The government of Haidian district offers innovation service organizations in the street subsidies to improve the work environment of entrepreneurs, serve more startups and attract entrepreneurs with overseas education backgrounds. Each of the organizations can get as much as 3.5 million yuan ($573,770).

"Areas of 18,000 square meters are available for startups in the street and we are still trying to get another 27,000 square meters for them," said Qin Jun, president of Tsinghua Technology Innovation Holdings, which manages the innovation street with Beijing Haidian Property Group.

Qin set up Binggo Caf in the street and invites successful entrepreneurs to share their stories and lessons in her caf.

"I am an angel investor and I will invest in promising startups here," she said.

In Cheku Caf, 19-year-old Wang Yu hosts a half-hour activity where entrepreneurs showcase their products or programs and tell others what they need.

"Some investors have shown their interest in Xiubao and one of them invested more than 3 million yuan in another Internet finance company," said Wang Jian. He said he planned to work in Cheku for a long time and donate money to support it if possible.

On Aug 24, Wu and his colleagues moved their office to Sanlitun SOHO.

"With the investments, we got in 36 Kr we can improve our work conditions and progress step by step," he said with a smile.