HONG KONG SAR - Media OutReach Newswire - 28 August 2024 - The 5th China Unicorn Carnival, hosted by TOJOY Shared Group, was a resounding success in Beijing, China, attracting over 80 distinguished guests and more than 2,000 entrepreneurs, fostering a dynamic ecosystem for innovative businesses and China's unicorn enterprises.

During the event, TOJOY explored the crucial role of China's unicorn businesses in driving the development of "new quality productive forces", a key government policy direction. TOJOY also announced the launch of the "Second Curve of Unicorn Enterprise Increase " model, signifying a new chapter in its enterprise acceleration endeavors.

Beyond Capital: The "Second Curve" Model for Unicorn Success

TOJOY, a leading enterprise incubator and unicorn accelerator platform in China, has accumulated rich practical experience in the market operation of enterprise acceleration. The Chairman of the Board and CEO of TOJOY, Mr. Ge Jun, stated at the event that, in the face of the challenges faced by unicorn enterprises today, businesses need to break through the traditional capital-driven model and shift towards resource empowerment. This involves integrating resources, sharing services, and implementing innovative strategies to overcome development bottlenecks.

TOJOY's "Second Curve" Model: A New Approach to Sustainable Growth for Unicorns

To empower businesses in their transition, TOJOY has introduced the "Second Curve of Unicorn Enterprise Increase " model. This model emphasizes a strategic shift away from sole reliance on capital, encouraging enterprises to leverage platform power. Through comprehensive resource sharing and integrated service support, the "Second Curve" model helps companies overcome bottlenecks and achieve sustainable growth.

TOJOY's "Second Curve of Unicorn Enterprise Increase " model provides financial support and comprehensive services such as resource matching, technical support, and management support, creating an efficient growth ecosystem for growth-stage enterprises.

Mr. Ge Jun emphasized, "TOJOY possesses mature resource integration capabilities, a professional service system, and a deep understanding of the market. Our shared platform connects traditional enterprises with innovators, bridging the information gap and helping businesses identify suitable innovation partners."

TOJOY and GuoYan Institute of Economic Research Release White Paper on Unicorn Enterprise Growth

In addition to launching the new model, TOJOY recently collaborated with GuoYan Institute of Economic Research to release the "White Paper on the Growth Path of China's Unicorn Enterprises" ("White Paper") at the Conference Center of the National People's Congress. Themed "Forecasting 2024 Chinese Economy", the paper explored the vital role of Chinese unicorn companies in driving the development of new production forces. The White Paper also provided businesses with market research, forecasting, practical advice, and guidance to help them navigate challenges.

The White Paper presents a detailed analysis of the distribution of unicorn companies across China's industries, highlighting the "Software and Information Technology Services" sector as the leading industry,with 50 unicorn companies. This segment accounts for a substantial 9.6% share of China's total unicorn population. Closely following are the "Other Technology Promotion Services" and "Computer Communication, and Other Electronic Equipment Manufacturing" sectors, with 43 and 28 unicorn companies respectively. These segments have captured 8.2% and 5.4% of the overall unicorn market share, underscoring their growing prominence.

Concurrently, the share of technology innovation among potential unicorns has also been continuously rising. Among the 924 potential unicorns, 140 are from the "Other Technology Promotion Services" industry, accounting for 15.2% of the total. As for the "Research and Experimental Development" and "Software and Information Technology Services" sectors, they possess 105 and 77 potential unicorn companies respectively, accounting for 11.4% and 8.3% respectively.

The data mentioned above reflects that unicorns in China have shifted to being technology-driven, with the proportion of technology unicorn enterprises continuously rising. This indicates that unicorns, as carriers of the nation's scientific and technological innovation capabilities and development potential, are playing a crucial role in cultivating new productive forces.

The White Paper, a joint effort of TOJOY and the National Research Institute of Economics, illuminates the growth path of Chinese unicorn companies and underscores their critical role in driving new production forces in an increasingly competitive global tech landscape.

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