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Tsinghua Holdings declared that it will cooperate with its partners to begin a "Star Aggregation" plan, which will foster more than 500 enterprises with a value of over 100 billion yuan in five years, by integrating maker spaces, funding, talents and the global channel, on June 26.
Xu Jinhong, the chairman of Tsinghua Holdings, said, "It is really important to create a positive innovation and entrepreneurship system," adding that the "Star Aggregation" plan will precisely converge more resources and services to build a sustainable and efficient system and motivate innovation and entrepreneurship.
According to Xu, China is now facing a new situation, in which innovation, instead of productive elements and investment, stimulates economic growth, but there are still many obstacles, such as limited resources, scanty experience and an immature innovation culture. Xu believes that the plan will combine the functions of maker space, capital, entrepreneurs, global trends and collaborative cooperation to solve these problems.
To begin with, "Star Aggregation" aims to establish 1,000 incubators and maker spaces in over 100 domestic cities, of which over 100 will receive the country's support; it will also establish another 50 incubators overseas. Entrepreneurs can settle in these incubators and enjoy various resources, in accordance with the "Incubator City Network" strategy.
The plan also focuses on collaboration with seed investment, angel investment, venture capital and private equity based on Tsinghua Holdings' own fund to provide initial investment to innovative enterprises. It announced that Tsinghua Holdings will expand its fund to 20 billion yuan, improving a trillion-yuan-valued capital market.
In relation to human resources, Tsinghua Holdings plans to set up a "TH entrepreneurship college", inviting outstanding entrepreneurs, and to organize a professional training team to pass on experience and skills, accepting 200,000 trainers and inspiring 100,000,000 beginners in five years.
