We’ve been into the web market for a long while. When I started this blog, the aim is very straightforward: writing about Chinese startups and help them grow. We’ve talked to many Chinese startups and young entrepreneurs, written about their stories and tried to understand their needs. Personally, I’ve set up my own startup (which kept me very busy and is the reason that I blogged less and less recently) and have been sort of ‘experiencing’ the Chinese startup. My founding is, like many other local young entrepreneurs ever told us: Where is the Angel for Chinese startups?
On the one hand, it’s about money. Startups do not need big amount of money to get started, but unfortunately here in China. It’s so hard to find angel investors who believe what the founders believe and are willing to give them money to share the risk together; on the other hand, money does not mean everything. There are loads of cash in China I would say, and there are many people out there waiting for projects. However, the issue is that many startups do not know how to reach them. More importantly most of the local investors are great in traditional business but know little about web industry. They only believe Guanxi will work and how-to-make-money is the only metric they trust, which basically shut down the door to many young men with dreams. Young entrepreneurs need angel money and also need mentors and help.
Calling the Angel for Chinese startups, we want to take the responsibility to help building a better ecosystem for Chinese web industry. To start with, ChinAccelerator, a Dalian based 4 month startup accelerator managed by my friend Cyril Ebersweiler, is the first we want to introduce here.
ChinAccelerator offer extensive support for startups including seed funding, mentorship, and free office space. Anyone who has an innovative idea, founded a company, has the first customer or beta product can apply its incubator program. Participants will receive an initial seed fund of 10,000 CNY per founder (up to 3 founders), an extra marketing budget of 10,000 CNY, and access to strategic partners, angels, VCs and the press to really help you take off.
You can apply for ChinAccelerator’s program here.
And for a healthy local startup ecosystem, more to come…