FREQUENTLY ASKED QUESTIONS
What is InnoSpring?
InnoSpring is the Silicon Valley’s first US-China technology start-up incubator. It is a joint project between Tsinghua University Science Park (TusPark), Shui On Group (Shui On), Northern Light Venture Capital (NLVC) and Silicon Valley Bank (SVB). Our goal is to accelerate cross-border entrepreneurship and innovation in China and the U.S. by providing a nurturing startup ecosystem with a variety of services and support.
What does InnoSpring offer and what can entrepreneurs expect from InnoSpring?
InnoSpring will provide co-working office space for companies in our 14,000sq ft hub in Santa Clara, mentoring, in-house resources (eg. accounting/bookkeeping, paralegal etc), referrals to professional services & access to venture capitalists for U.S. and Chinese startups interested in cross-border development. InnoSpring will also provide startup capital through the InnoSpring Seed Fund. The center also will work with Chinese government agencies to facilitate Silicon Valley companies’ expansion efforts into China.
What kind of startups will you be targeting? Is this primarily to incubate Silicon Valley startups targeting the China market?
We are targeting startups in a wide variety of growing technology sectors, including cleantech, life sciences, e-commerce, semiconductors, software and hardware. The creation of InnoSpring is to support several emerging trends– the rapidly rising number of Chinese returnees starting their own companies as well as American entrepreneurs seeking to enter the lucrative Chinese market. In short, startups with a China strategy near term or long term are our specialty but not the only focus.
Is being Chinese a pre-requisite for admission?
No, it is not. Even though our programs have special focus on (A) Emerging Chinese companies with a U.S. strategy and (B) U.S. entrepreneurs or companies with a China strategy, we target worldwide.
Who are the InnoSpring Fund(ISF) investors and what is their role?
There are five investors, KPCB, Northern Light, GSR Ventures, CBC Capital and TEEC Angel Fund.
InnoSpring will work closely with TEEC Angel Fund to source and screen startups.
Who comprises the leadership team?
Eugene Zhang is the president of InnoSpring and oversees all its operations. He is co-founder of TEEC Angel Fund (www.teec-angel.com), was founder and CEO of JEDA Technologies, and previously worked at Juniper Networks, Cisco Systems and Sun Microsystems.
What is the incubator model?
InnoSpring combines the best of accelerator (funding, mentorship, workshops) and incubator (physical space, services) models, with a focus on helping startups achieve cross-border success in hyper growth sectors.
What criteria do you use to evaluate startups?
People always come first – our evaluation centers on the caliber of the founder or founding team . We also consider the company’s ability to target growing markets, the market opportunity, and the technology itself.
How does an entrepreneur apply for admission?
Entrepreneurs can apply for the pre-seed, seed and post-seed programs by applying on our website and through referrals.
How is InnoSpring different from other incubators?
InnoSpring is the first US-China technology incubator in Silicon Valley. InnoSpring is further differentiated by its:
01. Focus- We have a China focus. InnoSpring provides an inbound and outbound strategy for (A) Emerging Chinese companies with a U.S. strategy and (B) U.S. entrepreneurs or companies with a China strategy.
02. Model- We offer the best mix of elements from accelerator (bootcamps, mentoring, funding) and incubator(physical space, services) models.
03. Partners- InnoSpring’s partners are united by a common vision and deep passion for supporting entrepreneurs and shaping global innovation. They are deeply respected names in Silicon Valley and in China. Our advisors bring significant cross-border, operational, technological experiences to help accelerate startup growth.