With a large population, strong technological foundations, and abundant talent pool, China remains a competitive and potentially lucrative market for technology firms even amidst shifting economic trends. While it is prudent for foreign brands to heed the key success factors of localisation in China, the more pragmatic way to make inroads into the China market is through an established acceleration programme.

That is where XNode comes in. As the leading global platform for innovation, XNode has accelerated over 130 startups in the past three years and facilitated the fundraising of over USD 152 Million. In Singapore, XNode partners with Enterprise Singapore under the Global Innovation Alliance (GIA) and has accelerated the market expansion of 15 Singaporean companies into Shanghai since October 2019.

With the goals of validating product-market fit and establishing a go-to-market plan, the programme consisted of expert workshops, mentor sessions, and meaningful 1-on-1 business connections to potential local partners, clients, and investors. Rounding up the programme with a demo day, XNode lined up potential investors and partners to which the startups pitched their progress and value propositions.

Successes from Batch 1 of XNode’s Shanghai Programme

Among the alumni of XNode’s inaugural batch of startups under the China-Singapore Innovation Launchpad acceleration programme was Buzz AR, an AR-for-Retail startup that brings the “Disney” experience to premier luxury shopping destinations. During her stint as a VR model, co-founder and CEO, Bell Beh, saw the possibilities of spatial computing and started work on bringing similar experiences to more people while juggling between odd jobs and her Masters of Law Programme at UC Berkeley.

During her time with XNode in Shanghai, Bell was introduced to ecosystem players from the mixed reality and real estate spaces for potential collaborations and to validate Buzz AR’s product-market fit.

“XNode is arguably the best programme we have ever experienced. It led me to our first pilot with the Bailian Group, an 80 Billion Yuan department store operation in China. We’ve also been shortlisted to deploy our AR Wayfinder at WAIC 2021, the largest AI Expo in the world, the one that Jack Ma debated with Elon Musk in 2019,” recalled Bell when asked about her experience in the China-Singapore Innovation Launchpad programme.

Also read: CapBay bags US$20M Series A to scale its multi-bank supply chain finance, P2P financing platform

Buzz AR, which captured over SGD 1 million in project bookings within nine months, has recently also clinched longer-term enterprise contracts, bolstering its position in the APAC region for the coming three to five years. The company’s next milestone is the launch of Buzz X, the first entertainment and utility mobile application in Southeast Asia that will make AR accessible to all.

Desmond Pheh, another batch 1 alumnus, runs Livingwear, a clothing company that combines design, technology, and data to make “Reliable Essentials” that fit consumers and the environment — excellent quality basicwear at transparent and fair prices.

Through XNode, Desmond discussed potential collaborations and secured tractions with players in the e-commerce, investment, and marketing spaces. “XNode has helped me make some strong relationships and network in China and I know if I were to return there, I will not go in blind,” said Desmond, who has since been focusing on fundraising to accelerate product development and introduce Livingwear’s new collection in 2021.

Following the pioneer batch in October 2019, seven more Singaporean startups, hailing from medtech, healthtech, adtech, and RPA, landed in Shanghai in August 2020. Their participation in the first four-week virtual phase of the acceleration programme will be followed by physical dealmaking sessions with potential partners that they were connected to — including ecosystem giants, active players in the VC landscape, and crucial government enablers.

The Promise of Shenzhen

Home to renowned tech giants like BYD, DJI, Huawei, and Tencent, Shenzhen is a tinkerer’s haven for rapid innovation where mistakes are made fast and insights are uncovered even faster. With a fast growth mentality, effortless access to production facilities, and support by the local government, hardware companies would be miles ahead of counterparts in other geographies just by setting foot in Shenzhen.

This hardware Silicon Valley nestled in China’s Greater Bay Area also happens to be the destination for startups participating in XNode’s upcoming acceleration programme. Tapping into XNode’s network of manufacturing giants, hardware startups, and investors, startups under the programme would be plugged into an environment where fast-paced deal-making meets rapid product iteration, where suppliers could be involved from the get-go and where funding opportunities and ecosystem support are readily available.

Also read: Singaporean entrepreneur: bringing the Asian internet business model to Central America

With an increasing exchange of innovation and entrepreneurial infrastructure, the way ahead for Shenzhen is further cemented at the government level with the Singapore-China (Shenzhen) Smart City Initiative (SCI), securing Shenzhen’s importance as the next destination for Singaporean startups.

XNode is now calling on hardware startups to express interest in joining the upcoming China-Singapore Innovation Launchpad acceleration programme in Shenzhen. Interested startups are encouraged to drop a note at contact_sg@thexnode.com with your company name, sector and funding stage to get on XNode’s radar.

– –

This article is produced by the e27 team, sponsored by 
XNode

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

The post XNode to launch cross-border acceleration programme in Shenzhen appeared first on e27.