New gateway opened to Chinese market for Kiwi SMBs
Five new business landing pads have launched in China, making it easier for New Zealand businesses to accelerate growth and investment opportunities. New Zealand-based business FunderTech has teamed up with the Chinese Local Government to launch these innovation hubs, which will be located in Shanghai, Chengdu and Chongqing. The Chinese Local Government will provide shared workspaces, while FunderTech will be providing a wrap-around support service for the Kiwi businesses.
The deal provides flexible terms for up to 40 foreign businesses to establish at an innovation hub.
FunderTech managing director Rob Thomas says Kiwi businesses are being given an “eye watering offer” that is almost half the annual rental price of taking an office in an equivalent innovation hub in Auckland, with a great deal more benefits.
According to Thomas, each innovation hub has something different to offer but will include:
- a shared local business development manager
- a modern office space for three employees with room to grow
- a range of modern office furniture
- assistance with company registration
- assistance with a multi entry visa application
- assistance with establishing a business bank account
- assistance with finding accommodation - some incubation hubs also offer a month’s free accommodation
- unlimited Wi-Fi access
- regular social networking opportunities
“Kiwis are amazing innovators but our businesses need to be closer to capital and consumer markets,” Thomas says.
“Each city has a population of more than ten million people and it’s important to bring New Zealand companies close to the action,” he explains.
FunderTech director David Liu says, “The incubation hubs in rapidly growing China cities present a great opportunity for Kiwi start-ups.
“The enormous China market in bloom is full of both competition and opportunities, the incubation hubs are the active agents that can help Kiwis learn the rules of Chinese business games and prepare them to fly high,” he says.
Says Thomas, “The decision to set up an office in China should be well thought through.
“There are a number of pitfalls that business can make when entering the market,” he says.
“However, the wrap-around service and the deal struck by FunderTech with the Innovation Hubs will provide an affordable and viable way to bridge the gap for kiwi business entering into China.”
FunderTech is offering business support modules available to accelerate the landing process which include consumer research, product & marketing, manufacture and importation. They are also assisting businesses apply for Local Government Grants and introductions to Chinese Angel Investors.
Since FunderTech established its business in August they have taken five Kiwi businesses into China.
The next FunderTech Angel Investor Roadshow is planned for February 2017, after the Chinese New Year, which will involve visiting Incubation Hubs and pitching to Angel Investors. For more information please visit the www.FunderTech.com website