Big com­pa­nies turn to smaller ones to solve prob­lems

China Daily (Canada) - - CHINA - By DU JUAN

The ef­fi­ciency has been greatly in­creased through this method, com­pared with us­ing our own re­sources.”

An in­creas­ing num­ber of largescale do­mes­tic and for­eign com­pa­nies have par­tic­i­pated in the busi­ness in­cu­ba­tion plat­form in Bei­jing’s Haidian dis­trict as part of the na­tional in­no­va­tion-driven de­vel­op­ment strat­egy.

The big com­pa­nies have be­come the ma­jor force for es­tab­lish­ing com­pany in­cu­ba­tors since 2017, ac­cord­ing to Bei­jing Z-in­noway Tech­nol­ogy Ser­vices, a gov­ern­ment­com­pany that runs ser­vice agen­cies for en­trepreneurs in Haidian dis­trict.

Four out of five newly es­tab­lished in­cu­ba­tors in Haidian dis­trict since 2017 were founded by big com­pa­nies such as DC Hold­ings and Baidu.

Nie Lixia, gen­eral man­ager of the com­pany, said tra­di­tional largescale com­pa­nies have started work­ing with in­cu­ba­tion plat­forms to find smaller part­ners that can solve their prob­lems more ef­fi­ciently at lower cost.

“In the past, large com­pa­nies tended to use their own staffs to solve tech­ni­cal or mar­ket prob­lems,” she said. “Now, they use our plat­form to help them find the ap­pro­pri­ate teams of peo­ple who can solve their prob­lems. And then the big com­pa­nies will in­vest those teams to build star­tups.”

About 30 big com­pa­nies have co­op­er­ated with in­cu­ba­tion in­sti­tutes since 2017.

Dur­ing the 2018 Na­tional Mass In­no­va­tion and En­trepreneur­ship Week in Bei­jing from Oct 9 to 15, Si­nos­teel Scie-tech De­vel­op­ment, a large group fo­cus­ing on steel and re­lated new ma­te­ri­als de­vel­op­ment, held a meet­ing to find startup teams to co­op­er­ate in sec­tors in­clud­ing wire­less charg­ing, chem- in ical com­pounds ma­te­ri­als.

The com­pany formed a part­ner­ship with Z-in­noway Tech­nol­ogy Ser­vices in June.

“We raised our needs and re­quire­ments to Z-in­noway and they helped us to find the in­no­va­tive teams that can solve our prob­lems,” said Wang Shouye, gen­eral man­ager of Si­nos­teel Scie-tech De­vel­op­ment and chair­man of Si­nos­teel Tech­nol­ogy In­cu­ba­tor. “The ef­fi­ciency has been greatly in­creased through this method, com­pared with us­ing our own re­sources.”

Ac­cord­ing to Wang, Z-in­noway chose the eight teams that were the best matches for the com­pany.

“We don’t have that much time to do this, and our in­for­ma­tion and mag­netic re­sources are lim­ited,” he said. “Through co­op­er­a­tion with Z-in­noway and af­ter lis­ten­ing to the pre­sen­ta­tions of the eight teams, we got more ideas about the di­rec­tion of our in­no­va­tion di­rec­tion for the fu­ture.”

He said the means of co­op­er­a­tion in­clude co-fi­nanc­ing, es­tab­lish­ing funds and in­vest­ing di­rectly in the teams.

Zhang Chao, board sec­re­tary of sub­sidiary Si­nos­teel Anhui Tianyuan Tech­nol­ogy, at­tended the meet­ing with star­tups and said his scope was ex­panded by the com­mu­ni­ca­tion.

“We will in­vest about 500 mil­lion yuan ($72 mil­lion) in the three sec­tors, and those teams have pro­vided very use­ful ideas,” he said. “It’s pos­si­ble to co­op­er­ate with any of them.”

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