Tencent plans to support 100 startups over the next 3 years, but not with money

If you’re a successful Chinese mobile startup, I’ve got some good news: Tencent wants to help you. As part of a recent event celebrating the 5.0 release of its mobile app platform Yingyongbao, the company has announced what it calls its “double-hundred plan.”

According to Tencent social media services group VP Lin Yongtao, the double-hundred plan stipulates that over the next three years, Tencent will direct 10 billion user visits to 100 Chinese startups via its open platform, although the startups in question must be valued at RMB 100 million (US$16 million) or more.

The lucky companies won’t be getting any direct financial investment from Tencent, but they will be getting more than just traffic. Tencent plans to provide its 100 startups with a variety of other resources, including user analytics and potentially even some free marketing. Even without a big cash infusion, it sounds like a pretty good deal for eligible startups, although it’s not clear exactly how much Tencent will want in return from the startups it opts to support.

If you’re interested in potentially participating, stay tuned: details of the program have not been announced yet.

Note: The name “double-hundred” refers to the 100 companies Tencent will pick and the 10 billion user visits it plans to send them. The number 10 billion in Chinese is rendered as 100 100 millions, so although “double-hundred” doesn’t make as much sense in English, it works in Chinese. The name also may have been chosen in part as a reference to a 2000 government plan with the same name that was focused on importing and developing talent from overseas.

(Source: Techweb and ZOL)