Tencent Co-Creation Space Files Prospectus Highlighting Investment and Service-Centric Model

On June 2, 2016, the press conference for the grand opening of Tencent Makerspace (Beijing) and the signing ceremony for its strategic cooperation agreements were held in Beijing.

Tencent WeWork Space (Beijing), set to grandly open in Huilongguan, Beijing this July, is supported by the Changping District Government, powered by core resources from Tencent’s Open Platform, and invested in and operated by Inno Angel Group. The space covers an area of 55,000 square meters.

The facility can accommodate over 500 startup teams and more than 3,500 professionals, while also providing shared office spaces for investors and institutions. Here, investment firms, startup teams, entrepreneurial service providers, and startup media can engage in close-contact, high-efficiency communication and collaboration.

It is reported that during Phase I, more than 40 startup teams had already moved in, with a total valuation exceeding RMB 2 billion and total financing surpassing RMB 200 million. These include star projects such as General Robots, CheLubo (intelligent in-vehicle robot), Xiaoluobo Technology, Zhangbei, Zhixingzhe autonomous vehicles, Renrenxiang, Dreamplus, New Economy 100, Yiweitong, Yuehui Jingxuan, Intelligent Guild, Tsinghua X-Studio Laboratory, and Beihang University Robotics Laboratory, covering various fields including mobile internet, healthcare, smart hardware, cultural creativity, intelligent manufacturing, education, and O2O.

Liu Huaiyu, Partner at Inno Startup Circle and Head of Operations for Tencent Makerspace (Beijing), stated, “The core philosophy behind operating Tencent Makerspace is investment and service. Therefore, our vision is to build connections based on this physical space: not only among innovators and entrepreneurs, but also linking investors and entrepreneurial service providers; not only between small enterprises and large corporations like Tencent, but also across different industries such as cultural creativity and smart hardware, as well as between government agencies and private enterprises. Only by establishing interconnections among the diverse ‘species’ within our ‘magical forest’ can we infuse vitality into the micro-ecosystem we aim to create, enable it to achieve self-sustaining circulation, and attract potential unicorns to develop within our environment. Thus, we are committed to connecting innovators and discovering the future.”

It is reported that Inno Angel Fund has previously invested in healthcare projects such as 37 Health and U-Tang.

In addition to its high-specification scale, the space also leads industry trends by providing entrepreneurs with the most intelligent office system. Through a WeChat-based intelligent IT control system, users can remotely manage access control, facility reservations, network connectivity, printing, payments, and inquiries about entrepreneurial services using their mobile phones.

Supported by these innovative hardware facilities, the space is also dedicated to integrating preferential policies provided by the government, Tencent’s extensive online resources as an internet giant, and Innoangel Club’s professional investment and operational advantages, thereby creating an ecosystem that operates efficiently and significantly enhances entrepreneurial outcomes.

The space is also committed to fostering a startup cluster effect, leveraging Tencent’s nationwide resources, facilitating the commercialization of scientific and technological achievements, and pioneering a new office model for commercial buildings that integrates front-end customer engagement with back-end R&D and production.

In terms of investment services, leveraging the Inno Startup Circle, we gather renowned angel investors, venture capital (VC) firms, and private equity (PE) institutions across various stages from across China. Centered on six core modules—venture investment, co-investment and crowdfunding platforms, startup learning and communities, incubation and acceleration mechanisms, resource integration mechanisms, and startup media and communications—we provide entrepreneurs with comprehensive, high-value-added startup and investment services.

Tang Pengzhuang, Head of Operations for North China at Tencent Makerspace, stated that the semi-finals of the 2016 Tencent “Internet+” Entrepreneurship Competition were held at Tencent Makerspace (Beijing). In addition, starting from June 2, the preliminary rounds in the cultural creativity and intelligent manufacturing sectors of the Tencent Entrepreneurship Competition will also be hosted by Tencent Makerspace (Beijing). Tencent will provide entrepreneurial service resources valued at RMB 200 million to support outstanding projects. The competition has received full support from Tencent Makerspace, which has introduced its experience and resources from benchmark incubated projects into the event.