LONDON--(BUSINESS WIRE)--ZGC Group, one of China’s top investors and operator of China’s leading network of science parks, announces that it will be opening an innovation centre in London to support UK and Chinese entrepreneurs.
This follows the news from ZGC last week that it has established a CNY 30+ BN fund to invest in and support science, technology and innovation ventures around the world.
Headquartered in Beijing, ZGC has established a network of science parks throughout China and the world, and is committed to becoming the leading global provider of integrated services for entrepreneurs, from real estate and financing to IP and advisory services.
ZGC’s Chairman, Mr Zhao Changshan, signed a Memorandum of Understanding with London & Partners’ CEO, Laura Citron.
ZGC manages 18 science parks in China and over ten innovation centres and liaison offices around the world, including the US, Canada, Finland, Israel and Germany, and has invested directly or indirectly over USD 6 BN in over 2,000 startups around the world of which 35 are now listed on global stock markets and 15 have become unicorns (worth over USD 1 BN), including CloudMinds, Ant Financial, and Cambricon. ZGC also provides support and services to firms such as iFLYTEK and SenseTime, two of China’s leading AI success stories.
The "ZGC Innovation Centre @London", as it will be called, will provide a full range of services for technology companies in the UK including local incubation, cross-border acceleration, VC investment and M&A consulting to help them expand into the Chinese market and globally.
In a speech in London, Mr Zhao Changshan, Chair of ZGC said, “We will be setting up the ZGC Innovation Centre in London soon, and are very happy to be joining London’s great innovation ecosystem, which is renowned as one of the best globally.”
Mr Zhao added, “We see ZGC as a global network to help innovators in science and technology promote collaborative innovation, cooperation and the creation of projects which help all countries build a better future.”
ZGC Capital presented the CNY 30+ BN (including CNY 20 BN and USD 2 BN) ZGC Innovation Fund at the ZGC Forum meeting earlier this month in Beijing. The fund will support and invest in science, technology and innovation ventures within and outside China to support overseas business expansion, cross-border mergers and acquisitions, and overseas stock market listings.
The 2019 ZGC Forum, ZGC’s annual gathering of 1,200 entrepreneurs, investors and government agencies from around the world, including the London Stock Exchange and the Mayor of London’s promotional agency, London & Partners, was held in Beijing from 16 October to 18 October. China’s President Xi Jinping supported the event with a congratulatory letter emphasising China’s willingness to actively participate in global innovation cooperation, share innovation and development achievements with countries around the world, and work together to build a community of human destiny.
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