The Sino-US Business Innovation Center, a bridge for Chinese and American small and medium-sized enterprises (SMEs) to invest in opposite sides of the Pacific, will set up operations in Yonghe Park of Beijing's Dongcheng district this April, according to information released at a product launch of Moxtra, a US software company.
As the incubator for one of Beijing's investment management companies in Silicon Valley, Moxtra benefit from the innovation center when it enters the Chinese market.
"The difference between China and America concerning laws, policies and entry barriers poses many challenges for us," said Huang He, co-founder of Moxtra. "Our greatest concern is whether Chinese customers, who are used to communication tools like WeChat and Fetion, will embrace our new product."
The innovation center has paved the way for Moxtra's rapid integration to the market by analyzing the status quo of China's software industry and domestic policies, providing legal advice, financing support and human resources, and establishing connections with the local government and investors. "It's like a resource-sharing platform that enables foreign companies to be better integrated into the local market and also attract more overseas companies to invest in China," said Lu Rongrong, general manager at the center.
The innovation center has established partnerships with major financial institutions and Silicon Valley angel funds in order to channel more investment and financing for promising SMEs.
It is also expected to become a new "Silicon Valley" for incubating innovative talent in Dongcheng district.
Edited by Chen Zhilin and Michael Thai