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China-UK tech investment ties celebrated at innovation forum

One of China’s biggest technology events is celebrating the ongoing ‘golden era’ of Sino-UK relations that has seen millions of pounds of Chinese investment into UK-based startups.

The pre-conference of the Pujiang Innovation Forum, held yesterday (Monday) in London, aimed to promote continued ties between the two countries and encourage a stronger technology ecosystem, joining Chinese-backed investment funds with the capital’s, and wider UK’s, thriving tech startup scene.

Arranged by the Department of International Cooperation of Ministry of Science & Technology of China, The Department for Business, Innovation and Skills (BIS) UK, Science and Technology Commission of Shanghai Municipality and London & Partners, the event brought together investors, government officials and business leaders.

It marks the first time the pre-conference has been held in London in the forum’s nine-year lifespan, and comes as the UK is selected as ‘country of honour’ for the 2016 forum in recognition of the country’s foremost position in technology and finance.

John Zai, Chief Executive Officer of Cocoon Networks, Europe’s first Chinese-backed investment fund and co-host of the Pujiang Innovation Forum pre-conference, said: “Technology companies are absolutely dependent on talent, and the UK is flourishing with it at the moment.

“Through combining the technology from the UK and, in particular, London, with Chinese capital, there is a huge opportunity to push innovative technologies on a global scale.

“We want Chinese investors to see that the US and Israel are not the only places for investing in technology.”

The UK government has embarked on a charm offensive with Chinese officials, investors and businesses after last year’s state visit as it seeks investment for large infrastructure projects such as the Hinkley Point C nuclear power station, as well as investment in startups and businesses.

Cocoon Networks established a £500m investment fund, along with its own incubator space in Tech City, earlier in the year to capitalise on investment opportunities in London’s tech sector, while many predict a record year for Chinese investment in the capital’s startup scene.