The signing ceremony of Founders Space Hangzhou Center is held at the Future Forum in Hangzhou, Zhejiang province, on Nov 11. [Photo/zjol.com.cn]

Founders Space, a world leading startup accelerator and incubator from San Francisco, the United States, recently launched its Hangzhou center at Qianjiang Century City, a central business district in the Xiaoshan district of Hangzhou, Zhejiang province, according to a forum held on Nov 11.

With 50 partners in 22 countires around the world, Founders Space, ranked a top 10 accelerator for startups in Forbes, Entrepreneur and Inc. Magazines, is dedicated to helping startups raise capital, innovate and accelerate as well as building an international community of startups.

Steven Hoffman, an entrepreneur, angel investor, and founder of Founders Space speaks at the Future Forum in Hangzhou, Zhejiang province, on Nov 11. [Photo/zjol.com.cn]

Speaking on how to build a billion-dollar business, Steven Hoffman, founder of Founders Space said the first thing of starting a business is to "be prepared to dine with death", which means be ready to embrace failure at any time.

"What we value most about Founders Space is its internationality and diversity", said a local official from Qianjiang Century City, adding that the company enjoys a competitive edge over human, scientific and research as well as market resources, which will provide new impetus to the economic transformation and upgrading in Xiaoshan district.