Hangzhou competition gives shot in the arm to female-led businesses
Hangzhou is offering incentives and capital to talented women and promising female-led projects to support women to start new businesses in the area, making it a leading labor market and innovation center for female-led startups in China.
At the recent 2020 Hangzhou International Human Resources Exchanges and Cooperation Conference, the Hangzhou Women’s Federation launched the Women Entrepreneurship Competition in Xiaoshan District, attracting 94 entries from home and abroad.
Twenty projects were awarded, mainly in the biomedical, health care, the Internet, e-commerce, big data and agricultural industries.
Ten female entrepreneurs are awarded “Top 10 Hangzhou Women Entrepreneurs” during the competition.
“We hope to empower women to innovate and cash in on technological advances in new industries,” said Tong Lijun, a member of the Zhejiang Women’s Federation’s Party Committee. “Governmental departments should collaborate to provide a boost to female-led startups and create a favorable environment for them.”
The competition was designed to build a platform for startups and capital. In a bid to attract investment, Xiaoshan government invited several top Chinese venture capital firms.
If an award-winning project sets up a workshop in Xiaoshan by the end of next year and is listed as a “national-level unicorn” by the central government, Xiaoshan government will offer up to 10 million yuan (US$1.51 million) in subsidies for things like rent, talent recruitment and taxes.
“The competition is an opportunity to integrate social resources and mutual exchanges and incubate projects,” said Ye Jianhong, director of the Xiaoshan Economic and Technological Development Zone.
To attract talent, Xiaoshan government has implemented 5213 Talent Plan related to rent and financial subsidies over the years. If a winning project is commercialized in Xiaoshan, it will be granted up to 6 million yuan after government’s evaluation.
“We hope to support more female innovators in Xiaoshan District and expand women’s power in local economic development,” said Ye.
Oscart, a social and e-commerce platform that primarily serves living for Chinese in the United States, was one of the 20 award winners. Its global sourcing and technology team is based in Hangzhou while its service team is in Los Angeles, the US.
“This award represents social recognition and honor,” said Lin Zi, founder of Oscart. “Over the years, Hangzhou has supported us a lot. In the future, we hope to get more rent and talent subsidies.”
JP Technology is a leader in big data computing of medical imaging and medical artificial intelligence. Founded in 2012, its technology platform has been implemented in thousands of hospitals across the country.
Last year, the company moved to Xiaoshan District and has been subsidized by local government for different purposes. This year, it is developing a technology platform for personal use.
“The competition brings together dozens of preeminent projects, which gives me an opportunity to learn from our counterparts,” said Ji Hongli, founder of JP Technology.
Female entrepreneurs chat with each other after the conference.
The Hangzhou Women’s Federation established an incubation center for female-led businesses in 2015. Since then, it has built a bridge between promising projects and capital, accelerating project development.
Buddha Robot, an AI system used in industrial assembly lines, power grids and logistics, is one of the most successful projects the center has incubated.
The company’s founder, Sun Ying, was chosen as one of the “Top 10 Hangzhou Women Entrepreneurs” in 2018 by virtue of her contributions to the AI industry.
“Buddha Robot is a good example of female entrepreneurship in the city,” said Lu Fenfang, a member of the Hangzhou Women’s Federation’s Party Committee. “Every community should care about female entrepreneurship. I hope more women will establish businesses in Hangzhou.”
Female-led companies have proved to be a success in a wide range of industries.
Lian Yuxin, founder of hanfu (traditional Han-style clothing) brand Shisanyu, was an award winner at the competition. Though people no longer wear hanfu in daily life, collectors and historical reenactors still use the garments, giving rise to a new industry in the city.
Lian has millions of followers on social media platforms, helping make her brand one of the leading companies in the hanfu industry.
