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Incubator launched to push social enterprises in Lujiazui

Updated: 2016-08-04

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A new business incubator designed to help enterprises aimed at solving social problems and effecting social change, opened its doors for the first time on Aug 3 in Lujiazui Finance District, Shanghai.

The 724 Planet CheersHub has been set up to help social businesses and non-profit organizations (NGOs) 24 hours a day, seven days a week (thus the 724 in its name).

A particular issue that CheersHub is focused on is the cleaning up of the urban environment, such as reinvigorated tired and run down areas into new spaces for living, leisure and business.

Lv Chao, founder of Non-Profit Incubator (NPI), and initiator of CheersHub, said the incubator will provide a wide range of support to startups, such as professional training, venture philanthropy, and roadshow releases.

NPI is a group of intermediary agencies aimed at providing support to the emerging third sector in China. Established in 2006 it has initiated numerous innovative programs such as the Community Service Platform, Venture Philanthropy Fund and Competition, and the Shanghai Social Innovation Park.