Bettina and Wei Zhou, CEO of the Shanghai based accelerator XNode, discuss how startups can scale their China business and become successful in China long-term.
Key tips include:
- Work closely with international corporates and international networks during your market entry phase.
- Find a Chinese middleman on the ground who can grant you access to local governments, state owned enterprises and Chinese corporates. This middleman can be a Chinese manager, a sales channel partner or an accelerator with strong Chinese ties.
- Form a China entity which is separate from your global business, and which implements a China-for-China approach. China-for-China means having a separate product, separate strategy and separate operations tailored to the Chinese market.
- Consider giving the majority shareholding of your China business to your Chinese partner. Your China entity would hence count as a Chinese enterprise and gain better access to networks, customers and funding opportunities.
About:
XNode website: www.thexnode.com/
XNode on LinkedIn: linkedin.com/company/6579325/admin/feed/posts
GINN: linkedin.com/company/german-innovators/
Wei Zhou: linkedin.com/in/wei-zhou-30919b/
Bettina Scheibe: linkedin.com/in/bettina-b-scheibe-b069b45a/
