SHANGHAI, China - (Business Wire) Top Bay Area venture capital companies have arrived in China to participate in an inaugural, two-day Venture Capital Summit. The Summit brings together representatives from the Yangtze and Bay Area Councils, as well as government, university and venture capitalists from both sides of the Pacific to share insights on Silicon Valley’s success in attracting venture capital, and to discuss how these lessons can be applied in Shanghai’s rapidly growing economy.

The Summit is the product of the collaboration between the two regional organizations representing the Silicon Valley-San Francisco Bay Area and the Yangtze River Delta region. “The Yangtze region and Bay Area share a great history of friendship and mutual support. Jointly developing the economic potential of both regions is the next logical step in our long relationship,” said Mr. Vincent Lo, President of the Yangtze Council and Chairman & CEO of Shui On Land, regarding the burgeoning ties between the regions.

“There is no issue more dear to the heart of the Bay Area than venture capital,” said Jim Wunderman, President and CEO of the Bay Area Council. “It embraces the innovative culture of the Bay Area, and is a bedrock source of our economic success. Venture capital is not just about growing small companies into large ones; it is about a profound celebration of the human spirit – taking a risk on the value of an idea, backed by hard work, to improve the human condition. It supports and accelerates the relentless march towards the frontiers of human creativity and innovation.”

The first day of the Summit will explore the roles of government, the private sector, and universities in encouraging innovation in China. Vincent Lo and Jim Wunderman will deliver key-note addresses, along with speeches from Chen Anjie, Secretary of the CPC Shanghai Yangpu District Committee, Dr. R. Sean Randolph, President of the Bay Area Council Economic Institute, Mr. Songde Ma, China’s Former Vice Minister of Science and Technology, and the Honorable Phil Ting, Assessor-Recorder of the City and County of San Francisco.

The second day of the conference will focus on the development of specific industries and deal opportunities, and will feature panel discussions covering emerging topics, including cleantech, biotech, and computer animation. Beyond searching for new business opportunities and exploring strategies for increasing cooperation between the two regions, the panel discussions will also cover trends affecting the venture capital industry as a whole.

“Some have said that a philosophical debate rages in China about the future of the economy – that two sides fight over a low-cost manufacturing economy or an innovation-based economy,” said Wunderman. “We are firmly on the side of an innovation-based economy. Such an economy can take advantage of the incredible intellectual resource that is the Chinese people.”

About the Bay Area Council

Founded in 1945, the Bay Area Council (www.bayareacouncil.org) develops and drives regional public policy initiatives and researches critical infrastructure issues. Led by CEOs, the Bay Area Council presents a strong, united voice for hundreds of major employers throughout the Bay Area region whom employ more than 501,000 workers, or 1 of every six private sector employees in the Bay Area.

Bay Area Council
Melanie Paulos, Communications Manager, 415-946-8725