Chinese Creative And Tech Sector Sets Up In Council Incubator Space
A delegation of 10 small to medium sized businesses (SMEs) from China’s creative and tech sectors will arrive today Tuesday, 15 September, for the establishment of the Shenzhen Creative
Industries Incubator opening at the City of Edinburgh Council’s Creative Exchange. Four of the companies have confirmed their spaces and the other six are exploring investing in Edinburgh.
The Creative Exchange celebrated its second birthday last month and has been so successful it is now extending to offer another 40 workspaces. Since opening in July 2013 it has supported more than 80 businesses. It currently provides around 110 individual workspaces and is home to 36 companies.
This follows the news announced in May this year that the International Creative Industries Incubator, in the heart of Shenzhen, is encouraging creative and tech sector SMEs from Edinburgh to expand overseas and raise their international profile.
Shenzhen has been identified as a target market for investment into Edinburgh’s creative industry and the two cities signed a Memorandum of Understanding (MoU) in June 2013. The document, originally signed by the Lord Provost, Donald Wilson, aims to smooth the way and provide support for soft landing and incubation space in each of the cities. It will help to stimulate investment, growth and new market opportunities.
Lord Provost, Donald Wilson, said:”The opening of the extension of Creative Exchange marks the culmination of years of collaboration between the City of Edinburgh Council and Shenzhen Municipal Government. This work has also been supported by the Scottish Government and it delivers on a number of objectives set out in their China Plan and Economic Strategy through enhanced cultural collaboration and increased exchanges between both nations.”
Councillor Frank Ross, Convener of the Economy Committee, said: “The creative and tech sectors in Edinburgh are buzzing at the moment and we were recently highlighted by Tech Britain as the third largest tech cluster in the UK. Today’s opening demonstrates the appetite for China’s creative and tech businesses to set up in and expand in Edinburgh. The collaboration between China and Edinburgh’s creative industries and the number of Chinese companies taking up desk space in Edinburgh will bring inward investment to the city and enhance cultural relations.”
Minister for Europe and International Development Humza Yousaf said:“This is a significant collaboration between Edinburgh city council and the Municipal Government of Shenzhen. It combines the considerable strengths of both partners in the field of cultural and creative industries and provides support for both Chinese and Scottish SMEs to understand the markets, opportunities and challenges while developing networks in both countries. We value Scotland’s important relationship with China and I’m delighted to support this venture.”