Israeli-Chinese cooperation will help Israel IoT and hardware startups to penetrate the Chinese market. StartupEast, a pan-Israel-Asian investment fund and incubator specializing in the Chinese market, in cooperation with MakeMountain, a Chinese incubator in the city of Shenzhen that supports foreign and local startups, are launching the EastMakers Program, an initial incubator for Israeli startups in China.
The three Israeli startups selected will receive an investment and production services in China, including direct pre-seed investment and services worth over $100,000. The startups will receive free incubation services in China, such as product design, offices and living quarters in Shenzhen, personalized meetings with potential customers and partners in Asia, possible follow-on investments, etc. At the end of the process, the companies will begin their journey to the Chinese market in a special one-month training program in Israel.
StartupEast founder and CEO Amos Avner explained that it was still very difficult for Israeli companies to break into the Chinese market without a local partner. Financing comes from venture capital funds, which are a very lucrative business in China, with over 1,000 Chinese companies actively investing.
Published by Globes [online], Israel business news - www.globes-online.com - on July 24, 2016
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