Inaugural China-UK Hi! Technology Festival marks launch of innovation centre
Cocoon Networks hails ‘Golden Era’ of Sino-UK collaboration, investment and technology transfer with launch of London hub and venture capital fund
The first day of the inaugural China-UK Hi! Technology Festival takes place at the newly-opened Cocoon Networks London.
As part of Cocoon Networks ecosystem, Cocoon Networks London provides 70,000 sq ft of office space and is set to be a prime destination for promising startups in the technology and creative industries. The Cocoon Networks ecosystem will provide collaborators with opportunities to upskill, meet investors, develop and manage new IP and bring commercial ventures to new markets.
Over a thousand industry leaders, entrepreneurs and partners from both China and the UK will gather at the new home of Cocoon Networks in Europe to mark the first day of the China-UK Hi! Technology Festival – a showcase of opportunities for investment and technology transfer between UK and China, its largest source of foreign direct investment after the US.
Alongside the launch of the London branch, Cocoon Networks also announced the launch of the Mulberry Green Fund, a £20 million venture capital fund targeting early-stage environmental technology ventures with the potential to scale in China.
Managed by Adapt Cocoon Equity LLP, the Fund is a joint venture between the University of East Anglia’s Adapt Low Carbon Group and Cocoon Networks will bring the first occupants of Cocoon Networks London into the ecosystem.
John Zai, CEO of Cocoon Networks said:
“China’s economy is set to become one of the most R&D-intensive in the world within a decade, and China relies on close partners and collaborators in entrepreneurship, innovation and investment to grow our technology ventures to scale.
“With its smart approach to new technology and its rich climate for R&D, the UK is the partner of choice for China. Technology companies are absolutely dependent on talent, and the UK produces and attracts talent with a flourish. We are proud to be supporting the entrepreneurs enabling this ‘Golden Era’ of Sino-British collaboration.
“It is time to act on our real, long-term interest in UK technology and promote business collaboration on greater scale than ever. The opening of Cocoon Networks London and the China UK Hi! Technology Festival will be a great foundation on which to build the future of this partnership.”
Rajesh Agrawal, Deputy Mayor for Business, said:
“It is great news that Cocoon is investing in London and helping to nurture the next generation of technology and creative start-ups. Last month, London was named the best city in the EU for digital entrepreneurs for the second year in a row. This new investment from China’s technology sector proves again that London is the best place to start-up, grow, and invest in tech and creative industries. It also demonstrates the immense and increasing value of the growing links between London and China.”
Cocoon Networks is expected to make further announcements in the coming week. The launch of the Realities Centre – a new London venue dedicated to virtual reality, augmented reality and mixed reality. Details of the launch, which will take place on 12 December, will be announced on 9 December.
Cocoon also announced a number of other enterprises aimed at enabling collaboration between UK and China entrepreneurial communities, investment and international competition, including:
The launch of China Community for Youth Entrepreneurship
The 10th China-UK Entrepreneurship Competition
A new partnership between Cocoon Networks and Tuspark Global Network