On March 20th, the Chengdu High-tech Zone Incubation Carrier Industry Co-government Council was formally established. This is also the first domestic industry incubator rule by a new model of organizational support areas.
On the same day, all the members of the Communist Party jointly issued the “Promotion of Integrity and Self-discipline in the Industry, Join Hands to Build a safety and sustainable community” – Incubation Carrier Industry Proposal, and the head of the Supervisory Board of the Communist Party of China issued the “Competitive Incubation Carriers list in Chengdu High-tech Zone”.
The incubator has been developed in China for more than 30 years. The first 25 years are basically state-owned. At present, more than 60% of China's innovation incubators are enterprises. The incubator itself is also a market entity. It also needs investment and help.
In 2002, I established a company in Beijing called Beijing United Venture Incubation Co., Ltd. The company united five institutions in Beijing, private and state-owned. At that time, I wanted to be the best incubator in Beijing, gathering assets and making China's first listed incubator. I have always had a dream these years: let the incubator itself make good use of China's capital market to obtain resources and use these resources to better help entrepreneurs. Therefore, we are looking forward to working closely with the market, with capital, and with the investment community.
I think the ecosystem is one of the most important concepts. In fact, a single incubator would be a micro-ecosystem in which the culture carries. This incubator organizes provide support to start-ups, including the involvement of government resources. Each incubator is an entrepreneurial ecosystem. Incubators need to be incubated, who will work on that? The shape of incubators in different eras is different. Because the social environment has changed, the support of the social environment to the incubator has also changed, so the shape of the incubator has changed a lot, and the help needed by the incubator will be different. The institutional arrangements of the Council may provide such assurances.
The entrepreneurial ecosystem is similar to a tropical rainforest. It is characterized by biodiversity and an important point: the cornerstone species inside play a leading and integrated role at a certain time. There is no doubt that the government is a cornerstone in such an ecosystem. Of course, there are other cornerstone species, such as large enterprises.
The first point is precise positioning.
I think that in the whole transformation, its positioning (Chengdu High-tech Zone Innovation Center) is very appropriate: on the one hand, it continues the advantages of this kind of entrepreneurial center, the level of entrepreneurial ability incubation is very good, there are several institutions in the park; Under the conditions, the work of the Innovation Center is mainly to lead and make up for the lack of market, in addition to more energy used in the industry's norms, industry services, industry incubation.
The second point is the industry governance.
It is divided into industry self-discipline and industry brands. Since 2014, the explosive development of this industry has been uneven, with well-developed institutions and quite bad. In fact, the connotation of the incubator, what is done far beyond this, our brand awareness and so on are all important considerations.
The third point is to evaluate the incubator.
How to evaluate an incubator? If an index can be used to evaluate an incubator, its employees, the value created by the company, GDP, taxes, employment... These are very good indicators, and the core indicators should be the growth rate of the incubating company. Evaluate how much growth rate the incubator has and how high the growth potential is. This is the core data that needs to be accumulated and shared. This way we can find an accurate positioning. So I’ve been thinking we can operate our own incubator on our platform on a voluntary basis in the community, from the beginning to the end, to do real operational management. These data can be directed to brokers, investors and large companies. I started to do WIIN last year. One of the businesses is to find an incubator that is willing to do so, and we have completed a set of entrepreneurial incubation evaluation system for everyone to use.
Self-discipline Is a very important direction of effort. In addition to addressing these factors, industry self-regulation is more important to improve performance and enhance our brand appeal.
At the same time, industry advancement is also very important. Everyone shares resources, co-incubation, and joint investment... Some of the business of WIIN is called “re-incubation”—that is, there is a fund (community) to do a joint incubator in an industry and invest in projects that the incubator has already incubated. This (fund) community, like our board of directors today, comes from 10 entrepreneurial incubators around the country. We need to share resources and open up these resources, such as companies, capital, etc., to jointly build this sustainable development.
