FOUR START-UPS RAISE FINANCING IN JUMP-START PROGRAM

AsiaInfo Services
07-12-2011
Four Start-ups Raise Financing in Jump-Start Program

SHANGHAI, Jul 12, 2011 (SinoCast Daily Business Beat via COMTEX) -- Four out of first seven portfolio companies of Innovation Works have received financing after joining the Jump-Start Program.

The Jump-Start Program kicked off in September 2010, which is a structured start-up fundamental program, aiming at grooming the new generation of young Chinese entrepreneurs in the consumer internet, mobile internet and cloud computing space. The first group of seven small start-ups were selected to join the Jump-Start Program.

Of the seven ones, Weipai, China's first smart phone-based video software, Meishidaren.com and two social games have raised the first-round financing.

The second round of Jump-Start Program involves over ten portfolio companies. Innovation Works launched the third round of Jump-Start Program on July 11.

Innovation Works is an investment company to make early-stage high-tech investments, coaching young entrepreneurs, and providing complete services to help these start-ups.

In addition to the complete services, Innovation Works provide free offices for start-up joining the Jump-Start Program until they raise financing.

Source: www.qq.com (July 12, 2011)

KEYWORD: SHANGHAI INDUSTRY KEYWORD: Investing & Securities SUBJECT CODE: Funds & Trusts
Venture Capital/Private Equity
SinoCast China Business Daily news
financing
start-up
Jump-Start Program
smart phone
social game

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