A TECH CONNECTION: CHINA & SILICON VALLEY
Startup Basecamp Organizes Two Way International Panel Live-stream As Startup Basecamp gears up to open its newest location in Shanghai in a few months, on…
Month: December 2018
Our Speakers:
Live speakers in San Francisco: 1. Xiao Wang, CEO at Innospring & investment specialist. 2. Angela Bao, Investment manager & expert at Idea Bulb. 3. Arman Zand, Director of Business Development at Rocketspace & expert in Startups and innovation. Live stream from China 1. David Chen, Co-founder & CEO of Strikingly, the first Chinese startup to get into Y Combinator. 2. Natasha Fang, CEO of Tolmao Group & digital marketing expert in Shanghai. 3. Yuchen Zhang, Founder of Aihehuo & StartupBasecamp Shanghai.[/vc_column_text][vc_single_image image="17823" img_size="full" alignment="center"][vc_column_text el_class="post_text"]Our guest enjoying the panel
[/vc_column_text][vc_column_text el_class="post_text"]A Few Takeaways:
1: Silicon Valley seeks to access the Chinese market more than the other way around: Chinese companies are looking for markets with similar socio-economics to expand rather than trying to enter Silicon Valley in so many occasions. The experts affirmed that many companies are trying to expand to Shanghai every year, looking for investment, and not really the other way around, as expected. The Chinese high-tech companies investing in the United States are looking not only to access the U.S. market for its products and services, but mainly to learn the “secret formula” behind America’s innovation prowess.[/vc_column_text][vc_single_image image="17824" img_size="full" alignment="center"][vc_column_text el_class="post_text"]2: Understand the culture of the country before entering it for business When thinking on entering the Chinese market, be aware of cultural differences as barriers to entry are very high. This includes language barriers as well as business differences such as different channels used to attract audiences. A few personal stories highlighted the importance of defining terms and cultural customs to ensure both parties are on the same page: something in one country could mean something different in the other.[/vc_column_text][vc_single_image image="17825" img_size="full" alignment="center"][vc_column_text el_class="post_text"]3: Not all companies should go to China and not all Chinese companies should come to Silicon Valley One key advice was to study the respective market before deciding to access it. It sounds simple enough, but too many companies just assume it is the right thing to do and realize only after having done the move it was a mistake. Many Silicon Valley companies think there are huge opportunities simply because of the size of the Chinese market but do not analyze it enough. 4: China is pursuing an aggressive strategy to remake itself as a global high-tech center for innovation. The path to innovation is not easy, and both the U.S. and China are facing many barriers as they strive to build their innovation-driven economies. 5: China’s Fintech Sector is booming. Did you know? According to Zand, director of business development at Rocketspace, the fin-tech industry in Shanghai is doing well in the last months, as a matter of fact, it attracted a record $20.3 Billions spread across 1,191 investments in 2015. It is also said that this industry has achieved considerable success thanks to a generational population shift.[/vc_column_text][vc_single_image image="17826" img_size="full" alignment="center"][vc_single_image image="17827" img_size="full" alignment="center"][vc_single_image image="17828" img_size="full" alignment="center"][vc_column_text el_class="post_text"]A few Startup Basecamp guests attending the event!
[/vc_column_text][vc_column_text el_class="post_text"]Want to read more?
Check out these two links: 1. http://www.seedstarsworld.com/blog/2014/10/shanghai-startup-scene-uncovering-chinas-cosmopolitan-city/ 2. http://www.scmp.com/business/article/1941692/five-major-fintech-trends-where-china-leading-world[/vc_column_text][/vc_column][/vc_row][vc_row css=".vc_custom_1599517311639{padding-top: 40px !important;padding-bottom: 40px !important;}"][vc_column][vc_btn title="Become a contributor and propose your guest posts!" style="classic" shape="square" color="inverse" align="center" i_icon_fontawesome="far fa-envelope" add_icon="true" link="url:mailto%3Ainfo%40startupbasecamp.org|title:Become%20a%20contributor||"][/vc_column][/vc_row]