Fung Group launches Explorium 2.0 in Shanghai

Fung Group launches Explorium 2.0 in ShanghaiHong Kong-based Fung Group has launched a new incubator in Shanghai aimed at seamlessly integrating retail technology breakthroughs with supply chain and logistics innovations.

The Explorium 2.0 will act as a platform for the rapid prototyping of omnichannel concepts in a simulated retail environment.

The initiative will seek to build an open eccosystem of start-ups, incubators and venture capitalists from across the retail supply chain.

It consists of around 6,400 square meters of co-working space for incubator activity and support services, a fabric library for apparel manufacturing, a 3D printing experimentation platform and a multifunction space for product launches and demonstrations.

Fung Group aims to turn the incubator as a strategic bridge that Chinese stratups can use to expand into global markets such as the US or Europe. Explorium already has partners including Microsoft Accelerator Shanghai as well as multiple China based or focused venture capital funds including SB China Capital.

“We are connecting innovators who want to create digital supply chains of the future with logistics and retail innovators who want to be the best at serving the digitally-enabled consumer of today and tomorrow,” Fung Group chairman Dr Victor Fung said at the launch.

“In an era of unprecedented disruption to retail worldwide, we are using the convening power of the Fung Group’s global network of suppliers, distributors, and customers to help incubators and their startups test new ideas and develop new products, and to help accelerate technologies that provide smart solutions for retail, supply chain and logistics in China, and globally. We aim to make it a seamless experience for all.”

The Fung Group includes Hong Kong-listed supply chain company Li & Fung and a stable of retail businesses focused on Chinese consumers.

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