Today, RocketSpace, the leading technology accelerator for high-growth startups, and HNA Group, a Fortune 500 multinational powerhouse, announced a strategic joint venture deal. Under terms of the deal, HNA has invested $336M toward RocketSpace’s global expansion, including China, and other strategic programs designed to help people bring disruptive technologies to market. This deal is HNA’s first investment in the growing technology accelerator and innovation space.
Founded in 2011, RocketSpace has built its reputation in the startup accelerator and corporate innovation space by attracting and supporting high-profile tech startups. Alumni include 16 unicorns ($1B+ valuation) including Uber, Cheetah Mobile and Blippar. Its tech campus and hand-picked community of startup members have positioned RocketSpace as a Silicon Valley hub for the global startup ecosystem. Beyond providing office-as-a-service and accelerator-focused services to tech entrepreneurs, RocketSpace’s Corporate Innovation Services business partners with more than 100 of the Fortune 1000 who rely on RocketSpace to learn about, and work with, some of the world’s most innovative startups. Clients include Royal Bank of Scotland, Tata Communications, Schneider Electric and JetBlue Technology Ventures.
“Since opening five years ago, RocketSpace has grown in both scope and global reach. This investment speeds up the execution of our global business plan and expansion of services for our ecosystem of partners,” said Duncan Logan, Founder and CEO of RocketSpace. “China is at the epicenter of today’s economy and it’s critical for Silicon Valley to have a presence there. HNA is one of the world’s fastest growing companies and they are a powerful partner to have as we quickly scale across the globe.”
“RocketSpace is a unique and highly scalable business, and has tremendous opportunity to accelerate their leadership in the technology accelerator space,” said Eric Tong, CEO of HNA EcoTech. “This deal is a critical piece of HNA’s investment strategy and RocketSpace will be an important partner for us in Silicon Valley, China and throughout the world.”
HNA’s $336M investment will support RocketSpace’s plans to build a global network of tech campuses and expand its position within the tech ecosystem with additional services to help new technologies scale. Its move into China will include tech campuses in key cities and aim to support the country’s rapidly growing startup community. Unlike traditional accelerators, RocketSpace doesn’t require equity from its startup members.
Along with its San Francisco headquarters and plans for China, RocketSpace recently announced its expansion into London in early 2017. To learn more about RocketSpace’s plans for China, please visit: http://info.rocketspace.com/china-technology-campus-locations-en.