Lu Chengkuan, CFO of British EGG Incubator, was selected into the “36Kr 2022 Global Outstanding Chinese Power100”

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Lu Chengkuan, CFO of British EGG Incubator, was selected into the “36Kr 2022 Global Outstanding Chinese Power100”

December 02
23:21 2022

On November 17, 2022, the “36Kr 2022 Global Outstanding Chinese Power100” created by 36 Kr and Kingpin Communication was unveiled. Lu Chengkuan, a young investor, the CFO and chairman of the Asia Pacific executive board of British EGG Incubator, was selected as the “New Business Leader”.

The reporter learned that in the UK venture capital circle, Lu Chengkuan is definitely recognized as the future rising star in this industry. He completed his bachelor’s and master’s degrees in the UK and many patents independently developed by him and his team becoming the first place in the industry. His business models in the field of investment were included in the British innovation and entrepreneurship curriculum. In addition, as one of the first post-90s Chinese in the field of technology investment in the UK, Lu Chengkuan was rated as an “Outstanding Chinese Alumni” by The Russell Group.

During his undergraduate and postgraduate studies in the UK, Lu Chengkuan reached business cooperation with many British enterprises through long-term contact with British investment companies and his own theoretical and practical knowledge of investment and financing. “Most British manufacturing enterprises and technology enterprises are eager to understand and enter the Asian market, but because of different underlying business thinking logic across projects and markets, there are huge information barriers in investment and financing, supply chain, cooperation structure, negotiation skills, application of market culture differences and other aspects.” Such pain points make Lu Chengkuan constantly reflect: what an enterprise needs most is capital and resources. If these problems can be solved, it is very promising for an enterprise to open up the global market. Through the professional financing incubation platform, a bridge can be built to promote the internationalization of investment and financing market.

In 2019, Lu Chengkuan entered the British VC investment field and joined the British EGG Incubator working as the CFO. The British EGG Incubator, which takes “entrepreneurial support + seed investment” as its development model, highly recognizes Lu Chengkuan’s professionalism in the incubation and investment of international early stage projects. In 2020, Lu Chengkuan officially expanded new venture capital markets in Asia at the headquarters of the British EGG Incubator. The British EGG Incubator is headquartered in Birmingham with branches in London, Manchester and Newcastle. It is based on the foundation of British venture funding for research projects at British universities. The incubator mainly invests in and incubates early-stage, technological innovation based and patent-backed British start-up projects, mainly in the fields of new energy, new materials, artificial intelligence, big data and cloud computing. The total amount of investment in seed round/angel round each year exceeds 10 million (£) and the success rate of project incubation (above PreA round) is up to 80%. Among the incubators based on universities, the British EGG Incubator has opened a new mode of international early-stage investment + incubation.

Through professional VC venture capital, Lu has been exposed to many projects in hard science and technology fields such as new energy, new materials, artificial intelligence, medical materials, etc., and has led British EGG Incubator to build an early incubation ecology in the world with 7 Fortune Global 500 enterprises. By 2022, the outstanding British projects led by Lu Chengkuan during his work in the incubator have received overseas financing of 100 million pounds in Asia and Lu Chengkuan has accumulated investment experience of more than 100 million pounds. During the same period, Lu Chengkuan, as the initiator representative and judge of the official GAP venture capital fund project of the University of Warwick, actively promoted mass entrepreneurship and innovation in British universities, and also became a guest lecturer in the incubator of Cambridge University and entrepreneurship course of the University of Warwick.

After 2020, Lu Chengkuan decided to lead the EGG Incubator to focus on the Asian financing market and help more European international start-ups and mature enterprises expand their global footprint. During the work, the team found that most early-stage European companies only understood the Asian market through news report and had very little understanding of the investment environment, government support, social recruitment and consumption habits of the Asian market. Meanwhile, the British EGG Incubator helped European companies to enter the Asian market in three areas: financing, market expansion and team expansion. Soon, the three British companies, under the service of EGG Incubator, obtained an investment of 8 million pounds in Asia. In 2021, EGG Incubator has carried out in-depth cooperation with Singapore, Beijing, Shenzhen, Vietnam and other regions in Asia, helping more than 150 European market teams to participate in the Asian Innovation Contest. Through financing and settlement, it has successfully incubated 52 British companies. Two of the projects have successfully made initial public offerings, thus winning the Beijing Overseas Venture Capital Awards.

In 2022, the British EGG Incubator launched the first Asian platform, which is jointly built by the British EGG Incubator, the Shenzhen Advanced Institute of Chinese Academy of Sciences, Maker Institute CAS and the Ego Group Co., Ltd. The platform will be launched into the EGG Innovation Center, overseas accelerator and other products. It provides global services such as the Dual-carbon Summit Forum, venture capital incubation, fund cooperation, brand going overseas, and talent exchange, to help the region carry out dual-recruitment and dual-introduction activities in high precision and cutting-edge fields, and accelerate the exchange of international talents, scientific research and industries.

During the same period, the British EGG Incubator also completes a private equity fund with an investment of 100 million pounds in Asia. Through services such as regional industrial resources docking and regional fund investment and financing, it helped international enterprises to land and transform in Asia, so that overseas returnee projects can quickly integrate into the regional industrial system, and promote the overseas returnee team to adapt to the development of the Asian market. Under the leadership of Lu Chengkuan, the EGG Incubator model was rapidly replicated in Asia, which not only withstood the test of the market, but also built an entrepreneurial ecosystem of science and technology projects.

The organizer said that Lu Chengkuan was able to stand out among many candidates this time because the judges saw in him the potential of young venture capitalists, the spirits of Chinese elites and the “new internationalization story” of European venture capital circle.

Lu Chengkuan shared his mission that we are committed to helping more European and American companies to land in the Asian market and helping more enterprises to open new markets, new market values and new manufacturing in Asia.

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