Pozible Launches Crowdfunding Match Program with Shanghai-Nanxiang Government, IDG Capital Partners

Unprecedented Collaboration with Government Office Connects Entrepreneurs with Capital, Manufacturing Support, Chinese Entity Setup and More

SHANGHAI and MELBOURNE – November 5, 2014 – Pozible, Asia Pac’s largest crowdfunding platform, has just announced a partnership with IDG Captial Partners and the Shanghai-Nanxiang government to award matching funds and other support to the entrepreneurs behind the seven strongest Internet of Things (IoT) projects in a three-month promotion starting November 15.

Any IoT-related hardware project that registers on the Pozible platform during the three-month season will be eligible for the program, which is open to creators from all over world. On February 15, 2015, the seven projects that raise the most funds for their campaigns will receive a dollar-for-dollar reward. The top funding campaign will be awarded up to US$81,000; up to US$32,000 matched funds will be granted to the runner-up; and a maximum of US$9,000 will be awarded to the remaining five campaigns.

In addition to the matched funds, the Shanghai-Nanxiang government will provide the winning campaign owners with manufacturing and prototype resources, free Chinese entity setup services and will even introduce the teams to potential investors.

“As Asia Pac’s biggest crowdfunding platform, Pozible has always been focused on connecting great ideas with great opportunities. This collaboration with the Shanghai-Nanxiang government and IDG Capital Partners allows us to give our creators a great boost in funding,” said Rick Chen, co-founder and CEO of Pozible. “China is a great place for hardware companies to get started, but it can also be challenging for outsiders to navigate its business and manufacturing systems unless they know the market. The support resources the Shanghai-Nanxiang government is offering the winning project creators is more valuable for the long-term future of their companies than the funding itself.”

This program is part of Shanghai-Nanxiang’s Technology 50, an initiative to provide new technology companies with office space, investment opportunities and other services, with the help of Chinese venture firms. With IoT on the rise, the Chinese government has been instrumental in supporting innovators in the sector and is planning to invest $600 billion by 2020 in IoT.

“China is growing into the global leader in IoT. We’re delighted to support this new program and encourage entrepreneurs to grow their technology with us,” said Aliza Gao, representative with Technology 50.

“We’re excited to be involved with the work Pozible is doing to support innovation globally. There’s never been more interest in new tech, and we’re looking forward to watching the type of projects that emerge,” said Phil Jiang, managing director IDG China, Shanghai Office.

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