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European startups invited to pitch at Chinese investors

By Angus McNeice | China Daily UK | Updated: 2017-01-12 18:57

One of China's leading business schools is inviting European entrepreneurs to a weeklong crash course on Chinese startup opportunities, including the chance to pitch to wealthy investors in Shanghai and Shenzhen.

Cheung Kong Graduate School of Business-the alma mater of billionaire Jack Ma-held an inaugural China Start program in Beijing in September. In London on Wednesday, it gave a presentation to owners of British startup companies to encourage them to sign up for a second course, in March.

CKGSB Assistant Dean Ji Bo told around 50 business people at the event: "If China is set to be the largest economy in the world, why would you not want to expand your business there?"

China Start's March course, at CKGSB's Shanghai and Shenzhen campuses, will include visits to Alibaba in Hangzhou and Huawei's R&D center in Shanghai.

The dozen startups that took part in the September course included Arveng Technology, which develops gloves fitted with fingertip chips that control drone flight. EuroPas, described by its developer as WeChat Pay for Chinese tourists, was also there.

"China has a very strong appetite for innovative technology from Europe," Ji said. "And China is full of wealthy, risk-taking investors. What our China Start program attempts to do is eliminate the challenges for people entering the market."

As well as aiding startups to overcome cultural barriers and pitch to Chinese investors, China Start helps with fundraising, and links European startups with tech partners at incubators formed in collaboration with internet heavyweights Tencent and Baidu. The course costs 3,600 pounds for startups and 10,000 pounds for investors, venture capital representatives, institutions and banks.

Tech innovation is booming in China. The Chinese government has established more than 1,600 incubators for startups across the nation, and is armed with the world's biggest war chest of venture funds. Through State and enterprise funding, about $231 billion was raised in 2015 alone, and by April 2016 almost $340 billion was available for tech investment, according to consultancy Zero2IPO Group.

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