China

Shanghai

Attraction Phase

Shanghai has a very impressive mix of global corporate innovation, startup co-working and investment hubs that helps startups connect dreams to innovation, make ideas to reality.

Howard Wang
Incubation Director, Shanghai Caohejing Innovation Center

Sub-sector Strengths

Gaming

China accounts for over 25% of global gaming revenue and is the world's largest mobile gaming market. Shanghai’s gaming industry is expected to reach over $15 billion by 2020. Shanghai is home to more than 130 gaming startups, a satellite for industry giants such as EA, Ubisoft, and Virtuos. In addition, Shanghai is host to ChinaJoy, Asia’s largest gaming expo with over 340,000 attendees including participation from Giant players such as Sony, Xiaomi, and HTC.

Edtech

Over 1,000 Edtech companies are headquartered in Shanghai, and they received about $1.3 billion in venture funding between 2015 and 2017. Retech Technology, a vocational education startup, raised $18 million in an IPO in 2017. 17zuoye is an online learning platform which became a unicorn in 2018 when it raised $250 million in Series E funding led by Temasek Holdings. Zhangmen, a K-12 tutoring company, raised $350 million in Series E funding from China Media Capital and CICC Alpha in January 2019.

Why you should invest in Shanghai

SOFTWARE STARTUP OUTPUT
3k-4k
GLOBAL AVG.
1,010
ECOSYSTEM VALUE
$52 bn
GLOBAL AVG.
$5 bn
#2 Global Ecosystem
Gaming
#5 Global Ecosystem
Edtech
9
Exit Growth
INDEX
5
Output Growth
INDEX
3
Funding Growth
INDEX

Reasons to move your startup to Shanghai

EARLY-STAGE FUNDING PER STARTUP
$513 k
GLOBAL AVG.
$284 k
TOTAL EARLY-STAGE FUNDING
$2000 m
GLOBAL AVG.
$837 m
SOFTWARE ENGINEER SALARY
$26.5 k
GLOBAL AVG.
$58.3 k

Abundant funding

Shanghai’s venture capital network includes about 5000 angel investors and associations. The Shanghai science and technology innovation fund was launched by state-owned investors with an initial round of $970 million.

R&D investment

Zhangjiang Hi-Tech Park, sometimes referred to as China’s Silicon Valley,  has more than 400 R&D institutions.

Startup Community

Startup Genome
Partners & Members

ChinaAccelerator
Ether Capital
Innoclub
Innospace+
NakedHub
People Square
Startup Grind
Technode
Xnode

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