China-SKorea ties in Minhang: Where investment meets startup incubators

Minhang District's business scene is set to become more prosperous with new partnerships signed between South Korean investment and Chinese startup incubators. Closer ties are expected to be established between startups and professional service providers in the two countries.

The Global Unicorn Acceleration Lounge was unveiled at the E-Innovation Valley in late April, which is set to inject further momentum for Minhang's economic development.

The E-Innovation Valley in the district's Wujing Town is the location of South Korean fashion conglomerate E-Land Group's corporate headquarters, research and development center, as well as support facilities.

The integrated facility has a total floor area of 350,000 square meters and serves as a first-stop for Korean businesses seeking expansion in China.

Since its establishment in 2024, E-Land has been looking to act as a bridge for South Korean firms' entry into China, levering three decades of experience and networks it has built in the country's largest trading partner.

The fashion and retail giant also hopes to help compatriot companies without connections to China to venture into the neighboring country by guaranteeing their business or debts.

A number of cross-border roadshows and study tours to promote efficient matchmaking between Chinese and South Korean startups and capital institutions have been jointly hosted since 2024 with the Korea Startup Accelerators and Early Stage Investors Association (KAIA) to offer favorable conditions for high-growth startups to explore the global market, and to provide opportunities for cooperation between global venture capital firms and highly valued startups.

'Go Global China'

The "Go Global China" event jointly hosted by the E-Innovation Valley and the KAIA was held on April 20-22. It marked a new stage of strategic partnership between the two sides in terms of capital collaboration.

The event attracted participants from more than 10 South Korean high-quality investment institutions, covering cutting-edge fields such as artificial intelligence, biotechnology, digital content and consumer lifestyle.

Through the three-day itinerary, in-depth conversations and field explorations were held between the two sides to learn about their advantages and resources, serving as a cross-border platform pushing exchanges and collaboration in terms of technology, consumption and industry scene as well capital investment.

It also served as a solid cornerstone and bridge for South Korean startups to enter the Chinese market.

Representatives included officials from major startup incubators and investment agencies such as CNT TECH, Pacemakers, Bigbang Angels, KingoSpring, Simsam Ventures and BDC Incubator, covering fields such as information and communication technology, AI, medical technology and green sustainability.

These organizations play an important role in South Korea's entrepreneurial ecosystem and have fostered a number of high-growth companies through technology empowerment, open innovation and globalization.

The participants visited major Chinese companies and institutions such as Plug and Play China, Fosun Investment, Tencent AI, Freshippo Premium, Parkson Newcore and Bank of Communications, where they learned about the latest consumer trends, smart retailing and technology application scenarios and received practical advice on localized operations, market positioning and capital investment. They also held discussions over potential cooperation opportunities.

Through diversified formats such as on-site research, technology roadshow and field visits, the event facilitated deeper collaboration between startups in China and South Korea, and also explored a new paradigm of development synergies between the two countries in the fields of new consumption, science and technology.

In-depth talks were also held between officials from local investment agencies such as Yield Capital, Panda VC Capital, Highlight Capital and the Korea Venture Investment Corp.

Startup incubation

The Korea Startup Forum (KOSFO) also brought to the event around a dozen emerging companies, including startups in AI medical, new energy, digital therapy, IP, creative culture and derivatives.

A memorandum of understanding was signed between KOSFO and E-Innovation Valley to strengthen collaboration and exchanges over promoting South Korean startups' early stage entry in China and global entrepreneurial ecosystem exchange and cooperation.

A roadshow session was held and over a dozen South Korean startups showcased their innovative technology-driven business models to many domestic investment institutions.

Batterfly, Beyond Medicine, Cizion, Foretell My Health and Wizdome were among the companies and three innovative firms namely Inabooth, MOBIDAY and Smim demonstrated the potential of the fusion of innovative technology and fan culture in South Korea.

Companies that have already started operation in the E-Innovation Valley, such as Aiden Lab and BMSmile, also shared insights about China's social media and cross-border supply chain.

A representative from the KOSFO noted that the Shanghai trip is just the beginning and it's planning to select South Korean high-growth companies to organize a China study tour program for South Korean "tomorrow's unicorn" companies in the second half this year.

Chris Kim, operational general manager of E-Land China, said it plans to deepen collaboration with the KAIA, providing South Korean companies with one-stop solutions from China market access to business expansion. It is looking forward to more Korean innovative forces seeking creative ideas in the Chinese market and create a win-win future together.