Three Tech Startup Opportunities for Foreigners in China



China’s economy is the world’s second largest and fastest growing economy. Nowadays starting business in China is a dream for nearly any international startups. For foreign tech startups, they have their own advantages such as advanced technologies and innovations, talent and foreign background, if they can utilize their advantages in China, they will be competitive enough to survive and develop under the fierce competition. Below are three technology opportunities in China which has attracted increasing attentions these years.

Artificial Intelligence

China has been investing heavily in artificial intelligence, and now even surpasses the US by some measures. For instance, the number of AI-related patent submissions by Chinese researchers has increased by nearly 200 percent in recent years. China also has some big advantages in AI. With a huge amount of internet citizens, we see different consumer behaviors every day, which is a lot slower in the US. So is has a huge experimental lab for exciting AI applications.With fewer obstacles to data collection and use, China is amassing huge databases that don’t exist in other countries.

Virtual reality

Virtual reality exploded across china these years, attracting attentions well as investment from people who see the wave of the future. IDC expects China’s VR market to expand more than 441% in 2017, indicating that it will be a year of big opportunities for China’s VR industry. For the worldwide VR pioneers, the China market is booming. But China has a strong demand for VR content. With so many types of different VR headsets available in China, the next step is to create content for VR. Because high quality VR is out of reach for the majority of the Chinese population, and foreign companies are still ahead of Chinese companies in the quality of VR content creation, so it is a good entry point for foreign companies to start VR business in China.

Bio medicine

One other big and profitable industry in China is the bio medicine industry.It is developing rapidly, and new bio medicine are increasing their share of the pharmaceutical market based on people's needs. China is the largest producer and user of vaccines in the world, but the existing production of vaccines is far from enough to meet the needs of the market. The entire market of bio medicine in China is still smaller than that for traditional medicines and chemicals. Therefore, the bio medicine industry has the potential to be the rising star in the pharmaceutical market in the future.

Protect Intellectual Property Rights


Even if you have the advance technologies or products, you must learn to protect them when you start business in China. IP rights are still a major issue in China.It's too easy for local competitors to steal or copy such items and utilize their own distribution network to eat market shares before you do. If you want to start your tech business in China, just contact WTOIP Global, which provides one-stop consulting service and Intellectual property solution to help foreign tech startups to start business in China.

评论

发表评论

此博客中的热门博文

Complete Guide to Perform Competitive Analysis When You Start Business in China

图片
There is no doubt that you have to spend time on competitor analysis if you care about your business. Doing this, you may realize many things that you didn’t realize before about the market in which you are entering. The China market is favorable in terms of its great opportunities and fierce competitions. If you’re going to start business in China , then you need to analyze your future competitors all the more in order to know how do they do their business and what they are focusing on. What is Competitive Analysis A competitive analysis is a research made in order to better understand the competitive landscape and estimate opportunities, weaknesses, threats and strengthens of competing industry players, to optimize future business activities and utilization, such as marketing, product, sales or alike. The trick of competitive analysis is to find the tactics and methods that are used by your competitors. Why Competitive Analysis Always Matters Competitive Analysis is quite i
阅读全文

5 Common Challenges for Foreign Startups to Start Business in China

图片
It's a dream for nearly any foreign startups to enter China market. The country's massive population of more than 1.3 billion, of which 730 million are currently connected online, is attractive to almost any enterprise looking to expand and scale. But, China is a unique market that the way it worked in another country may not work here. So it makes it hard foreign startups to start business in China as they must redesign a solution that’s localized for its own demographic. And below are some common challenges foreign startups may face when starting business in China. Not Understanding the Market as Locals Product and market strategy often depends on intuition about the way users or clients will react or behave, but foreigners don't have such intuition, even if they can speak the language. Staying in touch with the market is becoming increasingly important, and they are getting out of touch by being abroad. So foreign startups have a competitive disadvantage whe
阅读全文

How Startup Companies Reach Investors in China?

图片
In the process of looking for investors, how to choose and how to contact with them it is extremely important. For starters who know little or have no idea about fundraising, who and which approach for them to look for investors to start business in China ? In general, the channels to reach investors are mainly in the following 3 ways. Recommended by Friends No matter in what time, friend recommendations seem to be a fast and efficient way to reach high quality investors. For investors, they are more willing to invest in projects that are recommended by friends, because personal factors such as trust and relationship come into play,but whether they are suitable for each other still depends on the specific circumstances of both the startups and the investors. Relatively speaking, this is the fastest channel, but in fact, it is very hard for foreign startups to have such a network of resources in China, and the matching rate is not high. Media Exposure and Entrepre
阅读全文