IF Geek Space helps entrepreneurs
Print Edition
AS Shanghai continues on its ambitious journey of becoming a global innovation hub, Changning District is doing its part by nurturing a new generation of entrepreneurs.
IF Geek Space is a company that helps entrepreneurs live their dream of starting a business. The company is in a three-story building on Pingwu Road and rents office space to more than 50 businesses. These companies include a coffee shop, beauty salon, gaming company, second-hand car dealership and online conference agency.
The base has been chosen as a place where university students can work as interns.
IF Geek Space founder Liu Bin said they currently focus on the IT and new media sectors, gathering resources from the government, academic institutes, local communities and media.
IF Geek Space initially provides free rent, along with administrative registration assistance, career guidance, professional training, media promotion and some funding for those who wish to make a difference.
Liu said no matter what the business is the philosophy behind it is essentially the same. He started his first business selling earphones while still in university. Looking back on the environment some 10 years ago, Liu said society is now at a point where entrepreneurship is more about innovation and trends.
He said one of the many advantages IF Geek Space offers is that it gives young people a place to register their business, which is a better option than using a residential address, a common solution for start-ups trying to save cash.
Liu said the “concept space” helps start-ups get off the ground, but that it’s the talent behind them that really matters.
He said he promotes a culture of “no CEO” and that a flat administrative hierarchy is rather helpful in avoiding time lost in “reporting-like” interpersonal communications.
Liu said his pragmatic approach comes from his own experiences and perception toward entrepreneurship. He said there are many people in the market who are not willing to try entrepreneurship. They apply for programs simply because they intend to cash in on government funds that are dedicated to start-ups.
Liu jokingly said there is a new profession called “entrepreneurship.” He said the phenomenon has led to many bubbles in the market and only a few in every thousand businesses have the capacity and potential to be a success. He therefore relies on his own judgement when it comes to selecting which businesses to help.
Liu described his criteria in four words — teamwork, time, passion and dream. He said if one’s sole purpose is to make money, it is unlikely they will succeed.
He said he tends not to choose people born before 1980 as the younger generation is fresh with ideas and they are more willing to work.
“I don’t fancy those who don’t want to work overtime and devote their passion to their business,” he said.
He also tends to reject those who do not want to invest their own money as he believes financial pressure makes one strive harder.
“We provide financial support,” he said. “But we have to avoid those cheaters. Not all projects will be successful when it comes to hatching enterprises, there is always a matter of ratio.”
When choosing the company name “IF Geek Space,” Liu said “I” stands for Internet or ideas while “F” refers to friends or fashion, a vision he wishes to spread.
Liu said he mostly welcomes those who have graduated from university within the past five years as this group is “normally full of passion and dreams.”
Liu himself visits various universities to share his ideas and offer advice to students who want to start a business.
He said he is quite ambitious and hopes to cultivate entrepreneurs that will earn the reputation of illustrious people like Jack Ma, head of Alibaba.
Liu said although it is a relatively free environment, there is pressure at IF Geek Space. Companies failing to make any notable progress after the first six months of operation run the risk of being told to leave.
“The space is like a pond of flowing water,” Liu said. “We cannot keep the dead fish in the pond. We have to save room for new projects that will keep the ‘water flowing’.”
Liu said he is now preparing another similar entrepreneurship base in Shanghai.
“My next entrepreneurship space will be for companies in finance, harbor logistics, automobiles, health care, tourism and education,” he said. “These are very suitable and lucrative in big metropolises like Shanghai.”
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