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China's first 'Pink Economy' Innovation and Entrepreneurship Contest launched

chinadaily.com.cn | Updated: 2016-10-21 11:02

The first China "Pink Economy" Innovation and Entrepreneurship Contest co-sponsored by famous gay social platform Blued, DoNews and Mars was officially launched on October 14th.

It is revealed by the organizing committee that there are over 40 LGBT innovation and entrepreneurship programs, most of which were initiated by the enterprises receiving Angel round or A round of financing coming from various countries and regions such as Europe, Southeast Asia and Taiwan (China) to compete in this contest. In addition, the sponsor invites senior leaders from numerous first-tier investment corporations and medias from home and abroad, for instance, Shunwei Capital, BAI, Crystal Capital, DCM, CMGE&Guohongjiaxin Fund, DoNews, Beijing News, Vision Knight Capital to provide evaluation and guidance.

"Pink Economy" is a type of new economic form and business models in order to satisfy the living and consumption demands of LGBT community, particularly, developing products and providing services for these targeted groups.

With Chinese LGBT community gradually accepted by the society, increasingly more renowned corporations turn their attention to the development of "Pink Economy" and seeking the commercial opportunities arising from it, which covers multiple industries and fields such as social platforms, travelling, E-commerce, games, films and entertainment, fashion and fitness among LGBT community.

Themed as "Invincible LGBT Team", this contest attracted numerous positive and inspired LGBT entrepreneurs to make constant creations, innovations to pursue a better life or meet the demands of various groups of people under the strong entrepreneurial atmosphere in contemporary China.

Against such as backdrop, Blued co-sponsored with DoNews and Mars to launch the first "Pink Economy" Innovation and Entrepreneurship Contest, invited a great many investors with concentration on LGBT business startups to participate and over 100 medias to report it. With great support of funds and resources as well as media attention and social influence, this contest will offer tremendous encouragement to "Pink Economy" entrepreneurs, start an "era of China pink economy development".

The sponsor, Blued, a gay social contact and live-stream platform with largest number of users across the world until now, has finished C and C+ round of financing sum to over 100 million Yuan.

It is saidthat the founder and CEO of Blued, Geng Le firstly introduced the word "Pink Economy" to China, dedicated himself to promoting Blued to be the pioneer and cultivator in the era of China "Pink Economy". Geng Le said, China's Pink Economy is still in the sprout and growth stage, the commercial development of LGBT community is the most appropriate way to increase the tolerant degree of the whole society.

He said, Blued is not only a social and live-stream App based on geographical location, but also seeks for the overseas market, increases monetization and creates film and television entertainment platforms, beginning to form a business circle targeting pink sector, committed to becoming a leading gay networks company in this field. We wish that this contest could further the development of China "Pink Economy", complete the business circle of "Pink Economy" in China.

The registration website: http://mars.marstmt.com/zc_fhjj.html# will be available until 31st of this month, the final will be held on November 16th. The fund-raising from first-tier venture capital institutions and supportive incubation services such as office space of sponsor, Blued will be provided to excellent projects selected from this contest.

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