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 | Thursday, April 20, 2000, updated at 14:12(GMT+8) | ||||||||||||
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On-line Incubator ImplementedDot.com Business Accelerator (DCBA), China's first "cyberincubator" or Internet business accelerator, has been formed by Shanghai Withub Hi-tech Business Incubator."DCBA will provide Internet start-ups with very strong support in technology, information, funding, management and marketing," said Bai Tongshuo, vice-president of Shanghai Jiaotong University. The university is the investor of Withub. Incubators are businesses which help technology start-ups with the resources, capital and base they need to establish themselves. DCBA is intended to play a key role in the development of incubators and small business support systems in China, Bai said. Since the concept was first introduced to China in 1987, China's business incubation program under the country's Torch Program has grown into the world's third largest, next to the United States and Germany. China's 200 incubators, with 10,000 tenant enterprises, have made an outstanding contribution to the nation's development in the fields of technology commercialization, enterprise and employment creation, revenue and tax generation and the promotion of a market-oriented entrepreneurial culture. DCBA is a joint venture between the New York-based Business & Technology Development Strategies (BTDS), a global pioneer in the field of small business support and entrepreneurship development and Shanghai Withub Hi-tech Business Incubator. Also joining are Tianjin Hi-tech Innovation Center and Shanghai Webb Consulting Center. BTDS President Rustam Lalkaka, former senior official of the United Nations Development Programme, was the one who introduced the concept of business incubators to China in 1987. "Fast Internet development and digital technology have revolutionized the incubator," said Lalkaka. Venture capital provides start-up businesses not only with money, but also access to management consulting, accounting skills, legal advice and some other related services, Lalkaka said. "I am optimistic about the prospect of China's incubators," Lalkaka said. China's second business accelerator will be set up in Qinghua University Hi-tech Park in Beijing.The accelerator will be merged with DCBA to provide all-around support for the country's medium and small-sized high-tech enterprises, said Jiang Hong, spokesman for Shanghai Jiaotong University.
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