Market access has become an increasingly important topic as countries are slowly opening borders and choosing to “live with the virus” so to speak by declaring the COVID-19 an endemic.
Entering a large market like China definitely is on the agenda of many corporations and startups alike where, if done correctly, has the potential to spike their growth. Considering the very different regulatory and business environment in the country, it is definitely a safer approach to enter the market by having a lead that is a locally-based company.
Local market access is key
Global Innovation & Technology Platform or GITP is one such company. Based in China, GITP provides technology companies with local expertise in the country based on a multidimensional assessment of information such as market, technology, intellectual property, and government policies. This includes the design of suitable business collaboration models, technology, or brand repositioning to suit the local market or developing brand new application market, developing a project marketing plan, providing a list of potential business partners, and providing corresponding landing services.
GITP also provides some of the valuable services a company should consider when entering China. These services are as follows:
Project Liaison: This involves the shortlisting of potential business partners from an extensive network of local connections in China and pitching projects to the shortlisted business partners of your choice via professional industry experts. Technology companies should be kept informed on the latest updates with customised progress reports.
Intellectual Property (IP): In reference to core technology or the product of technology companies, GITP helps conduct search and analysis of similar IPs filed in China, outlining the number of similar IPs, major IP applicants, and the main protection direction and other relevant information. GITP helps conduct risk assessments on IP registrations in China with expert advice from legal professionals on the technical data protection aspect.
Technology Assessment: Establish technology readiness of the project and offer project launch expertise. Provides detailed research and analysis on relevant technologies in China and evaluation of the competitive edge of the project in the China market. The result of the analysis includes advances in research on relevant technologies in China, technology application status in the local market, technology solutions employed by major local competitors, as well as competitive advantages compared to technology solutions in China.
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On the other hand, technology companies should also consider pitching opportunities or competitions organised by the provincial or local government of China.
The Global Entrepreneurship Competition 2022
For that, GITP would like to bring technology companies’ attention to the Global Entrepreneurship Competition. The Global Entrepreneurship Competition 2022 aims to build a multi-level, multidimensional and diversified international entrepreneurial model. This competition seeks to discover startups around the world, with the goal of facilitating entrepreneurs to grow and expand their businesses in Beijing.
The organisers and partners aim to use this competition to continuously empower entrepreneurs already in or interested to land in Beijing by providing a full range of “Beijing Services” such as talent settlement, children’s education, healthcare, designated apartments, and more.
Featuring top investors, famous mentors, and leading entrepreneurs to provide all-round entrepreneurial guidance and acceleration, this competition will be set up in seven major global areas worldwide, namely North and South America, Asia, Africa, Europe, and Oceania. There is a prize pool of over approximately US$15 million (100 million RMB) to be awarded to successful startups, with 28 Talent Scout Awards up for grabs.
This competition will also prioritise startups with a focus on seven tech verticals, including:
– AI / Virtual Reality / Fintech
– Medical Health
– Information Technology
– High-end Equipment
– New Energy / Energy Conservation & Environmental Protection
– Cultural Creativity
– Agricultural & Food Technology
Also Read: Meet the 10 startups pitching at Chinaccelerator’s 19th demo day
The project’s supporting services
Office Space: The award-winning startups would receive support with free office space of up to 300 square meters in Beijing Hycore Building for up to three years. Other than that, the industrial parks offer office space rent discounts and renovation subsidies.
Enterprise Services: Provides personnel service, social insurance service, business registration, and other whole process services to award-winning startups.
Media Communication: Media resources will be coordinated at all levels to provide opportunities with paper media, network media, short-form video interviews, television interviews, and other multi-channel for the promotion of award-winning startups.
Exhibition and Promotion: Award-winning startups will be given exhibition opportunities at Global Entrepreneur Summit as well as two tickets.
Development support
Investment Matchmaking: The startups can get direct investment opportunities from Investment Fund and more than 100 collaborative investment institutions.
Incubation and Training: Provide incubation, training, and acceleration services to award-winning startups.
Industrial Connections: Regular industrial networking will be held to provide direct opportunities for award-winning startups to work with industry giants, leading enterprises, large state-owned enterprises, and listed companies.
Capital Market Connection: The award-winning startups will have the opportunity to connect with both local and overseas capital markets.
Urban Industrial Policy Support: The award-winning startups can be given priorities to industry supporting policies at both the district level and city level, including the first set of equipment, technology acquisition, government procurement, and others.
Enter the lucrative Chinese market
The Global Entrepreneur Entrepreneurship Competition provides ample opportunities for startups to gain a chance to enter the lucrative Chinese market, as well as to capitalise on the incentives provided by the Chinese government on tech-related projects.
The sign up is 100 per cent free of charge, so come be a part of the largest global Entrepreneurship competition! The registration is closing on April 28, 2022.
Interested startups and SMEs may register here. For more information, visit GITP’s official page.
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Image Credit: mentatdgt from Pexels
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This article is produced by the e27 team, sponsored by GITP
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