Bingo Café (Beijing)
Binggo Café -an innovative incubator for enterprises on the Zhongguancun InnoWay in Beijing’s Haidian district - was founded in 2014. It has attracted more than 100 newly-founded companies and entrepreneurial teams composed of domestic students and those returned from the US, Canada, and Britain.
The projects mainly focus on mobile applications, smart device, vertical applications and data management. Binggo Café manages all kinds of funds worth 50 million yuan ($7.69 million) and has invested 35 million yuan to fund more than 20 projects.
About 60 percent of these projects have obtained new rounds of third-party financing, including a record amount of $ 8 million for a single project. The value of projects to receive the next round of financing has grown fivefold on average.