Blog 05 Jan 2018 Updated 17 Jan 2020 China's Tech Scene So My Tech Startup Is Ready For China. Where Do I Go? Lim Ai Leng, Deputy Director (North China), Enterprise Singapore Share: China may be a competitive market, but its huge market and vibrant tech ecosystem still abound with opportunities for Singapore tech startups. Companies can look at China in 2 ways: As an end market (due to its sheer size); or As a partner for tech sourcing or internationalisation. Given the intense competition there, companies who are even thinking of going in need to be clear of their unique value proposition, what they are using the market for, understand local needs, and find a strong partner to scale up quickly there. Where do I go? As a start, consider the 4 more mature and advanced cities in the tech ecosystem: Beijing, Shanghai, Suzhou, and Shenzhen. City Strong In Strength of ecosystem What you need to know VCs Beijing AI and Deep tech Largest startup ecosystem in Asia and 3rd in the world, with over 7,000 startups Perfect for a new startup due to large population (> 21 million) and high consumer-adoption rate Access a wide pool of talent and innovative research from top universities Leverage Beijing’s large startup network” Numerous co-working spaces, including UrWork and DayDayUp Large tech and potential collaborations with top companies such as Lenovo, Weibo & Microsoft, who have regional HQ there Beijing contributes 7 of top 10 venture funding deals in Asia, totalling over S$7.1 billion Shanghai Medtech/Fintech/Broad Base Consumer Services Ranked 8th worldwide in the 2017 Startup Ecosystem report Opportunities to collaborate with international MNCs and cosmopolitan environment that encourages easier navigation Foreign startups can first target the huge pool of expatriates before expanding to the local community Access a wide pool of talent and innovative research from top universities. Opportunities to join government and private sector initiatives such as: The technology innovation masterplan: facilitates R&D and technology transfer through streamlining government policies and attracting MNCs Hackerspace communities such as XinCheJian Large number of VCs supporting medtech and fintech startups Suzhou Nanotech/Biomedical Conducive startup environment for in the Suzhou Industrial Park, due to presence of NUSRI and BLOCK71 Suzhou Access “Nanopolis Suzhou” and Biobay in Suzhou Industrial Park to work with other companies for research and testbedding Benefit from recent developments in the Nanotech ecosystem – China’s Ministry of Science and Technology has just committed S$2.05bn to strengthen it over the next 5 years. SIP partners a large number of venture capital companies and risk investors to provide support for startups Shenzhen Hardware innovation Home to reputed hardware startup accelerators, ARM,HAXand Seeed Studio Transport ideas to products in shorter time and at lower cost with the availability of small batch prototyping and accessibility to hardware solution providers and open source hardware Access to some of the world’s most well-known tech firms such as Tencent, Huawei and dronemaker, DJI More VC funding in Shenzhen than the US, especially for hardware Back: What Singapore Tech Startups need to know when going to China.