One key trait smart startups have in common is that they plan ahead and leverage global resources from an early stage. In a highly-connected world, the old-fashioned thinking of “going abroad after growing big” is outdated for businesses. With prominent power in both manufacturing and purchasing, China is a boosting engine that startups want to take advantages of as early as possible. From developed supply chains to lavish capital investment, Chinese resource offers innovative startups strong competitive edges to stand out and succeed in the global market.
· Investment ·
Enthusiasm for investment in technology startups has been growing in both private and public sectors in China. Investors are keen to collaborate with startups to scale up technology and services. In return, investors are ready to leverage their expertise in capital operation, market access, and business development.
On the other hand, Chinese governments are also actively promoting grant programs at provincial and local level. Plenty of such grants include favorable policies for non-Chinese entrepreneurs, and more international startups have benefited from these programs. As startups’ chief China Strategy Officer, FosterInno is committed to helping our clients understand and utilize such essential resources.
· Marketing to Chinese ·
Marketing approaches can be drastically different when targeting different audiences. To start with, contents of marketing materials need careful redesign and revision while being applied to the Chinese market. In addition, unlike in U.S. market, Email/Facebook/Twitter campaigns have never been effective (or in many cases, even viable) channels to reach Chinese customers.
The upbeat news is that marketing in China is in fact much easier than traditional campaigns - thanks to the social media monopoly, WeChat. Without big investment on commercials and branding, tech startups can take a ride on WeChat platform to engage Chinese customers with limited expenses. With as low as a few hundreds of dollars per month, startups can gain a much larger return with help from WeChat experts who truly understand the local context and rules.
· Supply Chain and Manufacturing ·
With highly-developed supply chain and communication system in China, startups nowadays finally enter into a leveled playing field where they can take advantages of the market’s manufacturing power, just as what big corporations have been doing for the past decades. Previous mass-production period helped to integrate the system and set up a stage - now it is time for startups to enter the arena and play smartly.
Startup Friendly Services
How can I identify and benefit from China resources that are applicable to me?
In our highly integrated world, businesses can always find valuable global resources to take advantage of. Chinese market and resources are one of the largest mines in which smart companies try to dig, while most of the businesses find themselves facing language and culture barriers. Therefore, it is essential for companies to work with trustworthy partners on exploring the new territory. These partners might include marketing agencies, consulting firms for WeChat service, contract manufacturers, consulting firms for supply chain management, among others. FosterInno continuously works to identify and maintain a good relationship with outstanding service providers, then connect them with FosterInno members. One startup might be trivial on some fronts, but an association of similar startups would generate great purchasing power and improve efficiency in employing such services. FosterInno is passionate to work with early-stage tech startups who have the vision to take advantage of Chinese resources to take their business to the next level.
· Wechat Consulting ·
WeChat official account setup; Menu customization; Content translation and development; Website integration; Store design; Marketing guidance; Broadcast operation; Feedback data analysis; User management
· Early-stage investment program ·
Public Grants & Funds
- Offered by municipal governments
- No equity asked
- Range from USD 200K to USD 1.5M (Matching fund required)
- Comprehensive support including office rental, relocation housing, personnel salary stipend etc.
- Flyhorse Consultancy Holding Limited
- Cowin Venture
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