iChuangye, a Kickstarter-like crowdfunding service previously known as 5ichuang, launched today its first-ever Demo Day to debut projects that are raising funds on the platform. TechNode got a chance to talk with its CEO Gu Bing, who prefers to name himself as chief service officer of the site, since he considers his works as offering services to entrepreneurs and venture capitalist in an effort to bridge their demands.

Since its establishment in December last year, iChuangye has selected nearly 100 projects from more than 1,000 applicants to launch fund-raising campaigns on iChuangye and two projects have finalized their campaigns on the platform, said Gu.

He added that they defined neither the industries nor the development stage the applicants should be in, but project creators have to submit detailed introductions of their companies for accreditation. Most of the companies are in the preliminary stage of their development and the fund-raising amounts of projects on iChuangye range between 5 million yuan (around US$800K) and 20 million yuan.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.