“InnoSpring is not the typical Plug-n-Play incubator. It is China 2.0 meets Y Combinator — located in the heart of Silicon Valley.”
— Jack Jia, GSR Ventures
InnoSpring is Silicon Valley’s first US-China technology start-up incubator. It is focused on encouraging American and Chinese start-ups to expand beyond their home countries. Founded in 2012, InnoSpring is a joint project between Tsinghua University Science Park (TusPark), Shui On Group (Shui On), Northern Light Venture Capital (NLVC) and Silicon Valley Bank (SVB). It is located in Santa Clara, California.
The Innospring incubator will provide a nurturing startup ecosystem with a wide variety of services and support for startups, acting as a soft landing platform for cross-border development of US and Chinese enterprises. To facilitate US startups’ efforts to develop operations in China, Innospring will also work with Chinese government agencies to facilitate Silicon Valley companies’ expansion efforts into China.
- Services for US and Chinese startups:
- In-house resources (accounting/bookkeeping, paralegal etc)
- Access to venture capitalists and angel investors
- Physical space
- Funding: Seed funding for selected startups will come from the InnoSpring Seed Fund, which is funded by major US and China venture capital firms.
- Facilities: The InnoSpring incubator will provide comprehensive incubation services and physical space. It is housed in a 13,500 square foot building in Santa Clara.
- Startup occupancy: Innospring will start by selecting 10 startups and build to between 20 and 40, many of them in the mobile applications, health and clean tech sectors.
- Innospring leadership: InnoSpring’s leadership team brings significant cross-border, operational, technological experiences to help accelerate startup growth.
Northern Light Venture Capital (NLVC) is a leading China-focused venture capital firm targeting early stage information technology, consumer service, clean technology, and healthcare opportunities. NLVC manages US$ 1 billion with 3 US$ funds and 3 RMB funds.
The Shui On Group, founded in 1971, is a diversified group engaged in property development, construction and construction materials with interests in Hong Kong and the Chinese Mainland.
Tsinghua University Science Park (TusPark), founded in 1994, is the most successful university science park developer and operator in China. Headquartered in Beijing ,TusPark has more than 30 branch parks throughout China.
Silicon Valley Bank is the premier bank for technology, life science, cleantech, venture capital and private equity. SVB provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 26 U.S. offices and seven international operations. In 2011, 70 percent of Businessweek’s Top Entrepreneurs and 68 percent of WSJ Top VC-Backed Companies were the bank’s