介绍:
Secret Unleashed—
Why Suzhou Leads Transformation in China
Anchor:
With a 30% average annual growth in key economic indicators and ranking the second among all national development zones in China, Suzhou Industrial Park is a rare success story. The value created from new and high-tech industries accounts for nearly two thirds of its medium and large scale industries, apparently higher than 44%, the average of other national-level development zones.
What has made all this possible? In a recent tour to Suzhou Industrial Park, Luo Yu has found out that its secret to success is the convergence of high-technology and money. Here is his report.
Report:
As the largest economic cooperative project between Chinese and Singaporean governments, Suzhou Industrial Park is at the forefront of transforming and upgrading its industries from traditional manufacturing to high-end manufacturing, coupled with a service-oriented economy.
Since the park's inception in 1994, manufacturing has become the cornerstone of local economy. And yet in 2001, it became clear that something was missing and the park needed to transform itself. China-Singapore Suzhou Industrial Park Ventures Co., Ltd. or CSVC was then established to provide capital to early-stage, high-potential startup companies.
Zhao Hongxia, deputy general manager of Sandlake VC/PE Community says CSVC plays a pivotal role in the clustering of numerous technology enterprises.
(Zhao, Female, Chinese)
'The objective to establish China-Singapore Suzhou Industrial Park Venture Co. is to be in line with upgrading industries within Suzhou Industrial Park. We have introduced lots of high-tech companies that require capital support. We have been committed to incubating and fostering high-tech enterprises. An entrepreneur could benefit from one-stop-shop solutions in financing, including equity investment, debt financing, venture capital and so forth.'
As a leading venture capital in China, CSVC has invested in more than 300 projects in and outside the industrial park from earlier stages to the pre-IPO stage in the high tech industries such as integrated circuit, information technology, bio-technology and nano-tech.
Dr. Liu Sheng, CEO of InnoLight Technology, says CSVC is the adventurous type, much bolder than other venture capital firms.
(Liu 1, Male, English)
‘After two years, we invested all our money into next generation product development, which is 40G transceivers. But there is a risk. If we cannot be successful, all our investment may be gone. But at that time, if you look at the financial report, we are losing money. Basically you don’t have that much sales. So I talked to many big VCs. They are interested, but they are very hesitant to lead this series B investment. Then I go back talk to CSVC, Basically then led the series B. At that moment, I closed another 12 million investment and that money made our 40G product line successful.’
Dr. Ran Hongyu is CEO of Suzhou BeiAng technology Co., Ltd, an industry leader that produces air purifiers. He says Suzhou Industrial Park offered him 'big money' to start his business 5 years ago.
(Ran, Male, English)
‘In 2009, we submitted our business plan to the government. And after several rounds of review, we were selected among about 30 other applicants to be awarded to the program. And this program is very good for a startup company because it is composed of about 1 million RMB as the startup funding, and also it’s combined with venture capital funding about 6.5 million RMB. At that time, this amount of money is pretty big compared with other similar programs from other cities. And it’s quite sufficient for us to finish the research phase of the project.’
As the world's biggest nano-tech application community, Nanopolis Suzhou provides comprehensive support to more than 200 nanotech start-ups & SMEs in such areas as IP protection, financing, innovation and commercialization.
Dr. Zhang Xijun, president of Nanopolis Suzhou, says startups can get more than just capital support there.
(Zhang, male, English)
‘Money is definitely one important thing, right? So we have a Nano VC. And we build up the investment partnership with many venture capitals. And we have a Nanotech Investment Club with 100 memberships. And we have this industry capital cooperation platform. All this can help those SMEs to find potential investment. And also training. Not only business training, but also industry technology training program.’
As a result, entrepreneurs no longer have to worry about the lack of funds and instead, they can concentrate on developing skills to succeed in the market. Looking into the future, Dr. Liu Sheng is ambitious.
(Liu 2, male, English with ambience)
'We are quite confident with our business growing in next two or three years.'
Reporter: 'In terms of IPO location, which one do you prefer?'
Liu Sheng: 'Maybe I shouldn't talk too much about IPO since it's a sensitive topic. But basically there are four places in our list, US, Taiwan, Hong Kong, and Singapore.'
China-Singapore Suzhou Industrial Park Ventures Co. Ltd., or what is now called Oriza Holdings, has so far invested in nearly 200 startups in the seed stage, and has witnessed 32 companies going public.
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