A team led by senior partner Jiang Yihua advised the government of Hangzhou and Zhejiang Cybernaut Investment Management Co.,Ltd.(“Cybernaut”) on the creation of Hangzhou-U.S. Silicon Valley Incubator. Jiang, working with an innovative capital markets and investment banking team from Dacheng’s Hangzhou office, drew up the internal control scheme, planned funds and FoFs, structured business models and drafted legal documents in preparation for an official launch of the incubator.
Hangzhou-U.S. Silicon Valley Incubator aims to build itself into a platform for nurturing hi-tech startups in Silicon Valley and attracting high-level talents from overseas and a R&D, customization and outsourcing services provision base for Hangzhou-based businesses. As an important joint venture between the government of Hangzhou and Cybernaut, it is hoped that the incubator would drive transformation and upgrading of and introduce talents and new technology to Hangzhou-based businesses.
Chen Bin, president of Cybernaut, travelled to the U.S. to oversee the creation of the incubator on behalf also of the government of Hangzhou. The official launch of the incubator was announced by Cybernaut at the first Dark Horse Competition held by China’s The Founder Media at the Plug and Play Center, an already renowned incubator situated in Silicon Valley. At the witness of individual and institutional participants of the Dark Horse Competition, Cybernaut introduced the essentials of the incubator to a large crowd of Chinese youth studying aboard, conferred certificates of startup mentors and presented market-driven cooperative models to a few dozen veteran investors.
Mentors present at the launch scene included He Boquan, founder of Robust Group and investor of 7 Days Inn, Yao Jinbo, founder of NYSE-listed 58.com, Wu Changjiang, president of HKEx-listed NVC Lighting, Yang Ning, president of Nasdaq-listed kongzhong.com and Wu Xiaoguang, CEO of Tencent E-Commerce Holding Company.
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