SOURCE: InnoSpring, Inc.

InnoSpring, Inc.

June 11, 2014 12:10 ET

InnoSpring Announces New CEO and Global Expansion Plans

SANTA CLARA, CA--(Marketwired - Jun 11, 2014) - InnoSpring (IS), the first US-China technology accelerator for globally minded startups, announced that Dr. Xiao Wang, a partner with InnoSpring since 2012, has been named chief executive officer (CEO), following her election by the board of directors. In her new role, Dr. Wang will oversee InnoSpring's ongoing global expansion which is designed to support and accelerate 'borderless' innovation, allowing it to better support startups in the United States, China, and beyond. She succeeds Eugene Zhang, who has served as an executive officer with the company the past two years.

As part of this global expansion, InnoSpring announced that it has opened new offices in Shanghai and Nantong, China and plans to open offices in Europe later this year. These new locations will provide InnoSpring with a greater range of ideas and talent and give existing startups access to more resources and a wider ecosystem.

Dr. Wang brings extensive healthcare, health-tech and entrepreneurial expertise to the new position. She holds a Ph.D. in biochemistry from Case Western Reserve University, and was previously a project manager at Entelos, a pharmaceutical-tech consulting company. In addition, Dr. Wang is deeply embedded in the entrepreneurial communities in both the United States and China, having co-founded the China America Innovation Network (CHAIN), and now serving as president of the Tsinghua Alumni Association of Northern California (THAA-NC) and as a member of the Tsinghua Entrepreneur and Executive Club (TEEC).

"Xiao is one of the most passionate leaders I've seen when it comes to driving cross border innovations," said Lei Yang, InnoSpring board member and Managing Director of Northern Light Venture Capital (NLVC). "Her passion for connecting entrepreneurism to opportunity is only matched by her dynamism and leadership. As one of the few young female CEOs in Silicon Valley she brings a fresh perspective to the 'innovation' industry, and her vision and ethos are deeply in line with the positive international change InnoSpring is working to effect."

According to Dr. Wang, "Our vision is to take the model of success pioneered by InnoSpring Silicon Valley to offices around the world. This idea of positive-sum, symbiotic innovation that goes beyond borders is at the heart of InnoSpring's mission. This vision and mission, together with the chance to work with the executive team and members of the board of InnoSpring, make this a remarkable opportunity." 

Wanfeng Liu, Chairman of the InnoSpring Board of Directors, said that the leadership transition and global expansion are part of InnoSpring's international goals. "By helping others you help yourself," stressed Liu, noting that these changes allow the company to better connect entrepreneurs and ideas around the world to the resources necessary to make them a reality.

InnoSpring's Two-Year Anniversary
InnoSpring celebrated its second anniversary in April. Its 2014 Enterprise Accelerator curriculum is currently underway.

InnoSpring has established a solid brand in Silicon Valley in the past two years, and InnoSpring's companies are currently valued at around $180 million, with 110 million combined users and $11 million in revenue. The company's network has expanded to more than 80 mentors with a wide range of startup, commercial, academic, and financial experience. 76% of them have direct startup experience, with 62% serving as a CEO, CTO, or CIO. About 40% are involved in mobile and consumer internet, 30% in big data, cloud, or enterprise, 20% are venture capitalists or angel investors, and 10% are technical experts and academics.

About InnoSpring
Founded in 2012, InnoSpring is the first US-China technology accelerator for globally minded startups. It is focused on encouraging startups to expand beyond their home countries to lead huge market opportunities in the US and China, and beyond. The company's proven track record is underpinned by its ecosystem of mentors, financing, and resources on both sides of the Pacific. InnoSpring is a joint project between Tsinghua University Science Park (TusPark), Shui On Group (Shui On), Northern Light Venture Capital and Silicon Valley Bank (SVB). InnoSpring is located in Santa Clara, California.

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