Innovation, and its related funding, did get a solid footprint in China over the past few years, making even startups in Silicon Valley jealous. And we can expect more, tells William Bao Bean, managing director of China´s largest incubator ChinaAccelerator, in the New York Times.
The New York Times:
Twice as many Chinese investors have participated in $100 million or larger fund-raising rounds in China than American investors have in China. Already, that money has helped numerous start-ups reach valuations of $1 billion or more; these companies are now called unicorns. In 2014, 13 new unicorns were created by private investment in Asia compared with 30 in North America, according to CB Insights. So far this year, Asia has generated 11 unicorns to North America’s 19.
“Industries that will be huge are e-commerce and the sharing economy, and you’ve got people writing huge checks in order to be big players in the years to come,” said William Bao Bean, a partner at SOSventures and managing director of Chinaccelerator, which invests in and mentors software start-ups.
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