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Interview with Inno Valley HQ General Manager Xu Mu, Part II

Last week, Xu Mu, General Manager of HQFI Innovalley Incubator Management Co., Ltd, shared with Hengqin Record how the Inno Valley HQ operates. In part two of our interview with him, Xu explains how Inno Valley HQ helps incubate setup enterprises.

Hengqin Record: Could you explain how the incubation process works?

Xu Mu: Inno Valley HQ is not only an incubator, but a complete chain of group innovation space, incubation space and acceleration space so as to cater to enterprises’ needs in different development stages.

The growth of a company is just like a person. The group innovation space is like a kindergarten, to use an analogy. When a young business first enters the group innovation space, its team has not yet been formed and the technology and market still await development. What it needs is a full range of “nanny services.” Such a space is necessary to help it quickly enter the start-up stage.

After entering the start-up stage, the team has taken shape and the product development has reached a certain level. Then the company comes to the stage of incubation. At this stage, our focus is to provide funds, including seed funding and assistance in technology development, talent recruitment and development direction. Communication and interaction between entrepreneurs are also ensured in the incubation stage – the “junior middle school.”

Next, the products of the startup will enter the market. The scale of the company is growing larger and larger and the team is well-formed. What it needs is a boost to grab more market share. This is the acceleration stage, when the company’s demand for funds is greater and more focused on the market. The acceleration stage is like “senior middle school.”

Later, we also have the function of an industrial park. In this phase, the company may have entered the capital market and become a public company, creating value for society.

Basically, it is a chain development mode where we offer different growth spaces in different stages of the startup.

What I just mentioned is a solution to the problems “indoors,” like providing soil for a seedling. In addition, the growth also calls for sunshine and rain from the outside. What are sunshine and rain for a beginning business? They are help in seeking funds, recruiting talents, training entrepreneurs, developing technology and connecting with the market. That’s where our core value lies. The Inno Valley HQ is not just a physical space, it also offers growing companies “sunshine and rain” such as funds, talents, technology and training.

HQR: So how do you proceed exactly?

XM: First of all, relying on the Hengqin Financial Investment Co., Ltd (HFI) and other existing financial resources, we have cooperated with the Hengqin New Area Financial Service Bureau to create a Finance Hub. It is a platform to gather all the financial resources. Through the Finance Hub we often hold online and offline matchmaking activities for these small businesses. We seek the type of funds the startups need the most and match companies with funding institutions. This is how we solve the funding issue for them.

The second is a Science Hub, the aim of which is to enable a new enterprise to enjoy supporting policies and develop its strengths. It is a platform for communication, consulting and training, where enterprises can not only learn about policies, but also about the information, culture and ideas of entrepreneurship, including the equity structure and how to set it up in a company, and the design of strategies to make a small business grow bigger and match with the development trends of society and industry – the big picture. If it is going in the wrong direction, the efforts will not be rewarded.

At the same time, we also prepare young entrepreneurs for the challenges and hardship in the process of starting a business and equip them with necessary skills and attitudes to survive in the fierce competition.

The Science Hub is the product of our cooperation with Macau and the Zhuhai Bureau of Commerce. We hope that through this platform, young entrepreneurs can share with and learn from each other to accelerate their development.

In addition, we have established a Talent Hub with the Division of Party and Masses’ Affairs in Hengqin New Area, which is dedicated to introducing high-end talents to Inno Valley HQ. We offer information, funds and channels and these talents can interact with our vast number of Hong Kong and Macau youths and make progress.

We also have a Collaboration Platform for innovation. Of course, the Inno Valley HQ cannot be all-inclusive. We need external resources in such fields as producing, learning, researching, and funding, which are all put on the platform. In the Internet age, resources abound and the key is how to make use of them. We link these resources to our platform and make them effective tools of incubation, providing entrepreneurs with a variety of services.

For example, Hong Kong and Macau youths are usually unfamiliar with the policies and laws of the mainland. We can help them by offering high quality services with resources in business registration, legal affairs, intellectual property rights issues, research and development institutions and more at preferential prices. These types of support are available through this Collaboration Platform.

Therefore, I feel that we are engaged in deep incubation, from both inside and outside. We solve startups’ problems in funding, talent and training with innovative methods and resources.

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