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 In a highly-connected world, the old-fashioned thinking of “going abroad after growing big” is outdated for businesses.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.
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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 Manufacture
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.