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5 Jun

New World Development Partners with Tencent on Smart Retail Incubation Program for the Greater Bay Area - A Supernova Is Born

The Smart Retail Incubation Program for the Greater Bay Area, co-presented by New World Development Company Limited (New World Group) and Tencent, exhibited promising new solutions to smart retail on 29 May 2019. About 400 industry leaders from New World Group, Tencent and the startup community gathered at Shenzhen to witness the birth of a supernova in the field of smart retail.

The Smart Retail Incubation Program for the Greater Bay Area is jointly organized by New World Group's incubator Eureka Nova, Tencent Smart Retail, Tencent Ads, and Tencent WeStart to support smart retail startups in the Greater Bay Area. After 10 months of stringent selection and training, 15 promising startups inducted into the incubation program finally exhibited their results, in hopes of winning the supernova award.

Ms Doris Luey, Head of Social Innovations, New World Development talks about the purpose behind the establishment of an incubation program for the Greater Bay Area, "The incubation program this time picked out 15 promising startups from a pool of about 200 companies. These startups then spent a lot of time to hone their services and products into the best version possible to showcase to the audience. New World Group and Tencent have opened up new networks for the startups through the incubation program this time and offered a real life battlefield for business integration and gateway to reach out to a larger market in the Greater Bay Area."

Ms Cecelia Tian, Associate General Manager of Tencent Smart Retail shared information about the efforts Tencent Smart Retail has put in to drive and develop innovation among startups in the Greater Bay Area, along with her hopes for the future, "The contents showcased by the finalists today are rich and varied, giving us a glimpse into a bright future. I'd like to share a quote that's a personal favorite of mine: The digitization of the retail industry is the glory and dream of an era. We hope more and more allies will join Tencent in this cause and push the digitization of retail industry together to greater heights."

Since the launch of the recruitment in August 2018, the Smart Retail Incubation Program for the Greater Bay Area has received nearly 200 applications from startups, and the 15 incubatees have already established business integrations and exploring different opportunities with corporates through the program. Eureka Nova, established by Mr Adrian Cheng, Executive Vice-chairman and General Manager of New World Development, continues to develop and infuse new impetus into the startup ecosystem through New World Group's spirit of blending old and new to surpass boundaries.