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Hangzhou is home to the Internet giant Alibaba and it's encouraging more startups by creating a full industry chain and ecosystem in a base called the Internet Dream Town.
HANGZHOU, Feb. 25, 2016 (Xinhua) -- An aerial photo taken on Feb. 24, 2016 shows the commercial center of Dream Town in Hangzhou, capital of east China's Zhejiang Province. Dream Town, a town transformed from 12 granaries, is now an incubation center of makers. The town, which was built on August 2014 and covered an area of three square kilometers, has grown up to be a world-level internet venture base. Since its operation on March 28, 2015, Dream Town has attracted more than 500 venture projects with fund raised reaching 1.47 billion yuan (225 million US dollars). (Xinhua/Huang Zongzhi)
Wang Chunkai is the art director of an Internet company. But apart from his daily job, he shares his enthusiasm for art with many fans online. People can ask him to draw cartoon portraits by sending him photos through a smartphone app.
"Painting is an opportunity to show my personality. It is always good to get others' attention and feedback. I often receive positive reviews from customers, and they always cheer me up," said Wang Chunkai, freelance painter.
Like Wang, over 300,000 freelancers offer various services in this online community. Thanks to the popularity of mobile devices and mobile payment, the company behind Kongge app has expanded rapidly in just one year.
From just 12 at the start, it now has more than 200 employees. Its capital is worth 100 million RMB today. The company's founder credits this to support from the Internet dream town, a base for internet startups.
"You can start your company with just a good idea here. There is a thorough industry chain and eco-system here. We can find outsourcing teams of app developing, big-data analyzing, cloud solution, Internet security, and others.. We will deliver and execute our ideas efficiently," said Tang Yongbo, CEO of Kongge app.
The Internet dream town is located in a suburb of Hangzhou. Its ambition: to create the next internet giant Alibaba, which is only 3 kilometers away. More than 600 Internet-based startups have been set up here within a year.
Internet companies are sprouting up in the dream town since it was launched in March 2015. It has become the place for Internet startups and has attracted many talents, capitals to help ideas grow into businesses.
"It is not enough to create great companies by only gathering young people with ideas. We also need social capital and supporting facilities. We have invited the most famous and professional incubators across the world to choose projects, and organized meetings with investors for startups at different stages," said Zhao Xikai, standing VD of Admin Committee of Hangzhou Future Sci-Tech City.
Developing internet companies also stimulates the local service industry. This internet finance company focuses on funding cross-border e-commerce.
"E-commerce is a new type of service business. Usually the borrowing terms are very flexible and do not have too many fixed assets, which are required by traditional bank loans. We can provide flexible borrowing and returning solutions for their urgent funding needs," said Jin Shaoce, CIO of Hangzhou Tongmi Internet Financial Services Ltd.
As China upgrades its economic structure and growth model. Many hope the internet industry would provide an innovative and sustainable mode of transition.
