InnoSpring and Hatchery Spring Forward With Strategic Partnership

SANTA CLARA, CA and SAN FRANCISCO, CA--(Marketwire - Oct 11, 2012) - InnoSpring, Silicon Valley's first US-China technology startup incubator, and Hatchery, a leading San Francisco co-working space, are pleased to announce the formalization of a strategic partnership that will increase mutual business networks, expand their geographical presence, and provide additional support and funding opportunities for startups.

This strategic collaboration provides:

• A San Francisco presence for InnoSpring and a Silicon Valley presence for Hatchery
• Work spaces in InnoSpring and Hatchery offices for each other and respective startup clients
• Mentorship from Silicon Valley veterans for clients of Hatchery and InnoSpring's Accelerator Program
• Investment opportunities from InnoSpring's funding entities (such as venture capitalists or angel investors) or consideration for InnoSpring's Accelerator Program
• Networking events and meetings hosted by InnoSpring

"As part of InnoSpring's continuing efforts to nurture the growth and expansion of cross-border startups, we are pleased to join forces with a partner as innovative as Hatchery in SOMA San Francisco," said Eugene Zhang, CEO of InnoSpring. "This partnership will enable us to build a stronger and better ecosystem for entrepreneurs to grow in the Silicon Valley region."

According to Chris Gruwell, Partner of Hatchery, "Our partnership with InnoSpring exemplifies the Hatchery philosophy that great companies start in good company. We look forward to working with InnoSpring to spawn new ideas, partnerships and cross-industry networking."

ChinaSF, a public-private initiative of the San Francisco Center for Economic Development (SFCED) focused on developing cross-border San Francisco Bay Area business and investment opportunities with China, applauded the InnoSpring-Hatchery partnership.

"This 'meeting of minds' between InnoSpring and Hatchery is exemplary of the mutually beneficial business relationships promoted by our team at ChinaSF," said Darlene Chiu Bryant, Executor Director of ChinaSF. "We will support this partnership as it blossoms and continue to proactively promote more business collaborations."

The Shui On Group (Shui On), one of InnoSpring's four founding partners and a leading China-based property development and construction company, enthusiastically welcomed the new partnership.

"China's economic transformation and the vibrancy of the San Francisco Bay Area have provided enterprising American and Chinese companies with endless collaboration opportunities," said Charles Chan, Executive Director at Shui On Group. "As a founding partner and a knowledge community (KIC) developer, we share Hatchery's vision to build a place where companies and organizations of all sectors come together, link and expand commercial opportunities, and build lasting relationships. I want to deliver my congratulation on the vital partnership between the two. Together we can innovate, invest and implement the future."

About InnoSpring
InnoSpring is Silicon Valley's first US-China technology startup incubator focused on nurturing American and Chinese start-ups to expand beyond their home countries. InnoSpring was formed as a joint partnership by Tsinghua University Science Park (TusPark), Shui On Group (Shui On), Northern Light Venture Capital (NLVC) and Silicon Valley Bank (SVB). http://www.innospring.net/

About Hatchery
Hatchery represents a unique offering in the San Francisco shared office space arena. It blends a productive and energetic office space with a range of innovative businesses, promoting an environment of shared expertise and collaboration, spawning of new ideas and partnerships, and cross-industry networking. Along with the Hatchery Founders' diverse business experience and networking resources, these factors combine to create a diverse and innovative shared office space that naturally lends itself to new projects and partnerships, business development, and growth. http://www.hatcherysf.com