Turning startups into smart brands

Technicians of US startup company THEIA test virtual reality goggles at InnoSpring (SV) in Silicon Valley. [Photo/China Daily]

"The world is becoming a global entrepreneurial playing field," Huang Haiyan, CEO at Techcode, said. "China, with a large, increasingly Internet-connected population, should join this conversation of Web startups."

Huang founded Techcode in 2014 after working as the general manager of ZJ Incubator for seven years.

During her time at ZJ, she helped nurture more than 600 startups at the ZJ Innopark, a national high-tech industrial complex in Shanghai.

Her firm is now "incubating" about 30 projects in Silicon Valley, including ACTON, although she declined to go into further details.

"By building a global network of incubators, we will enable budding businesses to take advantage of each country's unique characteristics and enjoy the flow of talent and capital," Huang said.

To illustrate her point, she cited Darma, which was set up by Singaporean entrepreneurs and manufactures smart seat cushions packed with hidden sensors.

They can detect your breathing patterns and stress levels, measure your heart rate, and assess your sitting posture.

"The market for smart cushions in the workplace is big," Junhao Hu, CEO and founder of Darma, told media platform Tech in Asia.

Last year, Darma moved into Techcode's Shenzhen "incubator" to tap into the city's manufacturing prowess and build its presence in China.

Later, it switched part of its team to Techcode's office in Silicon Valley to expand its operation in the US.

"To maximize the role of a network of incubators, we will set up more than 40 startup accelerators in 10 countries by the end of 2018," Huang added, without going into details.

"Accelerators" are for more mature startups that are looking for new funding as they grow globally.

Techcode has a history of investing in companies or finding funding from angel investors and venture capital firms. But other Chinese businesses are just as active in rolling out services for startups.

Tsinghua Holdings Ltd, a technology conglomerate backed by Tsinghua University, has been running incubators and high-tech industrial parks in China for two decades.

In 2012, Tsinghua put together a partnership deal with InnoSpring (Shanghai) Co Ltd to establish InnoSpring (SV), Silicon Valley's first US-China tech "incubator".

So far, more than 150 companies involved in the project have found funding, while two thirds of them were launched by non-Chinese entrepreneurs.