Dragon Victory International Limited (NASDAQ: LYL), a company that offers reward-based crowdfunding opportunities and quality incubation services to entrepreneurs in China, today announced that the Company has entered into a Strategic Cooperation Agreement (the "Agreement") with Shenzhen 708090 Investment and Development Co., Ltd (“708090”), a leading provider of shared workspace, community, and services for entrepreneurs, freelancers, startups and small businesses, to promote incubation services.
The purpose of signing the agreement between the two parties is to help startups, especially for college students’ entrepreneurial ventures, grow to the next level. Pursuant to the Agreement, 708090 will not only provide startups with office spaces, facilities and logistics, but also provide support in due diligence, preference policies, media outreach, projects docking as well as financial aid. LYL will provide comprehensive strategic planning, marketing, connections, mentoring and business services, such as business registration, accounting, legal, human resources, and market research to entrepreneurs.
The cooperation between LYL and 708090 includes many business initiatives, which allows the Company to share 708090’s significant resources to explore business opportunities in Guangzhou and Hong Kong. LYL and 708090 will work together on continuing business model innovation and build the Company's brand awareness to achieve enhanced marketing and continued growth.
Mr. Yu Han, Chairman and Chief Executive Officer of Dragon Victory International Limited, commented, “Our partnership with Shenzhen 708090 Investment and Development Co., Ltd reinforces our commitment to serve entrepreneurial ventures in our incubator by striving to expand cooperation with governments and chambers of commerce. The cooperation agreement opens doors to exciting opportunities for Chinese startups and helps entrepreneurs to realize their career dreams. We plan to establish a most influential college students’ entrepreneurial incubator in Guangzhou and have some key government projects in 2 years. We see this partnership as our latest step in advancing Dragon Victory’s stature as a leader in entrepreneurship.”