As China's first multimedia incubator celebrates a year of operation, enterprises located within the complex have achieved fast development during the period.
On the one-year anniversary of the Shanghai Multimedia Park Venture Capital Co Ltd, or MPVC, Focus Media (China) Holding Ltd, an agency which broadcasts adverts in elevators and in office lobbies, received a US$12.5 million injection from various investors.
The investment came from several venture capitalists.
Focus Media, located in the Shanghai Multimedia Industrial Park in Changning District, will make its debut on New York's Nasdaq stock exchange early next year. Jiang Nanchun, general manager of the Shanghai company, said it expects to net US$200 million in its initial public offering.
The company has a presence in more than 6,000 buildings in 30 cities.
Its monthly profit surged from an original 1 million yuan (US$120,482) to 9.6 million yuan at present.
"Traditional advertising is a kind of waste because the ads are seen by all kinds of people no matter which group the advertiser targets," Jiang said. "So I decided to show high-grade products to white collars in office buildings. For people in hospitals, commercials of tonic foods and medicines will be more suitable."
Elsewhere, United Capital Investment Group (China) Ltd, a venture capitalist, signed an agreement with MPVC to settle in the park. Founded in 2003, the investor is now managing a total capital of "millions of US dollars" and invests mainly in newly opened and growing enterprises.
So far, it has offered help to more than 100 new enterprises and invested in nine projects, including Focus Media. It has gained a return of about "10 times" its original investment.
"The global venture investment is increasing by 40 percent in recent  years. But many investors still know little about the Chinese market, whose consumption capability is growing rapidly," said Mao Xianghui,  UCI's vice president.
"Our task is to introduce more international capital into China."
In addition to Focus Media, the Shanghai branch of Alibaba.com, the world's leading e-commerce Website, and Alleys Information and Technology (Shanghai) Co Ltd, China's largest Internet advert management company, have both found success from their base in the park.
The multimedia park, formed in March 2002, is the latest project of the  "Digital Changning" plan. So far, the park has accumulated a total registered capital of 300 million yuan and realized a 70 million yuan in sales and paid about 5 million in tax. Nearly 100 high-tech enterprises are settled in the the park.
"MPVC is not only the manager of a multimedia incubator, but also a venture investor at the same time," said Ma Shiyong, president of MPVC. "On one hand, we attract more capital from other investors.  On the other, we also offer professional services from planning to law affairs."