International University Innovation Alliance Announces Major New VC Fund for Innovation Start-ups at Launch of DealGlobe at Level39 Technology Accelerator

LONDON, March 23, 2015 /PRNewswire/ --

• New example of business co-operation between UK & China following the visit of HRH Prince William to China
• Supported by Investment Promotion Agency of Ministry of Commerce and Torch High Technology Industry Development Centre of Ministry of Science and Technology and Foreign Expert Bureau, International University Innovation Alliance announces global competition for university-level start-ups & major new VC fund for innovation partnerships with UK
• Launch of DealGlobe cited as great example of Sino-UK business innovation

A new global start-up competition targeted at university students was launched by International University Innovation Alliance at a press event held in Canary Wharf, London.

Additionally the Chinese delegation announced a significant new fund, indicated to be multi-million pound in scale, aimed at the development of cross-border business incubation between Chinese & UK universities to develop joint activities being discussed at the event by representatives of universities from across the UK.

At the event, Sir David Brewer, Former Lord Mayor of London, Former Chairman of China-Britain Business Council, was also appointed as the first senior advisor to IUIA in the UK.

Both the fund and the competition were announced at the launch of DealGlobe at the Level39 attended by a team of 10 officials and business delegates led by the Ministry at the event.

The top 3 start-ups out of 10 shortlisted teams from various universities and incubators were selected and awarded at a joint press conference between the Chinese delegation and DealGlobe, hosted at Level39.

In an extremely close competition the winner was the Darwinex team, a FCA regulated broker and FCA regulated asset manager start-up focused upon providing proprietary algorithms-driven trading strategy. Following Darwinex was Chicmi, an app providing location-based fashion guidance and Reward Technology, which built and patented a way to deliver customized rewards offers to its customers on entry of stores.

On the previous day, those delegates also visited schools and school-based incubators such as Cambridge Enterprise to discuss VC-funded support to entrepreneurship on campus and potential co-creation of incubation.

This was another move from China to promote the cultural and business cooperation between Sino-UK, following Prince William's visit to China last week.

DealGlobe, the first cross-border M&A deals platform to connect dealmakers with a focus on Europe and China, was held up as an example of a start-up successfully supported by incubation to develop its proposition, as they have recently attracted £1m of angel investment to enable its global launch.

DealGlobe is a B2B online 'matchmaking' platform, focused on M&A deals, allowing registered users to search, source and announce deals information on its exclusive online platform. Backed by its extensive M&A professionals' network and algorithm-driven technology, DealGlobe empowers its user base to execute M&A and investment with more opportunities and in a more efficient way.

Headquartered at Level39 in London, DealGlobe currently also has offices in Shanghai and Beijing, and is supported by leading international institutions such as UK Trade and Investment through the Sirius program, the China-Britain Business Council, and the Bureau for Investment Promotion at the Chinese Ministry of Commerce. In addition, DealGlobe also offers offline cross-border financial advisory through DG Capital, an advisory boutique combining offline resources and a world-class professional team to lead China-outbound cross-border projects.