A new first of program for IOT and Hardware companies is a breath of fresh air for startups wishing to make their first steps in Asia
Today the Private Equity and Venture Capital business is booming in China with over 1000 firms actively investing. In fact the total amount of venture capital funding by China have gone way above 50B$ in the last 10 years, which is more than all of Europe combined. Chinese ventures are optimistic about Israeli future development in high-tech fields and they believe a combination of abundant resources and capital in China and Israeli high-tech skills will make both parties to a great success. The last two years have been dramatic in terms of Chinese investments in Israeli startups. The list includes Alibaba which invested in Visualead, Baidu (China’s google) which invested in Tonara, Ctrip which acquired Travelfusion for 150M$ and many others.
The EastMakers Program (智造东方) is a first of its kind collaboration between StartupEast, a Pan-Asian incubator and VC fund and MakeMountain, an established incubator supporting startup companies that aims to providing sophisticated services for starups to accelerate from product prototypes to production, located in Shenzhen, China. The uniqueness of the program lays on its joint focus on IOT & Hardware and the Chinese market. Through a carefully designed process 3 winning startups will be chosen by related expertise of StartupEast in mid August. Before coming to China, the teams have to go through a thorough and comprehensive mentoring pre-program of one month that will prepare them to their first steps in China. Apply now.
The program participants will receive direct pre-seed investment and other services worth more than 100K including: free incubation services like project management, supply chain support, free office space, comfortable accommodation in Shenzhen and investors roadshow with StartupEast partners in Asia and more. In the meantime, more low-cost services are simultaneously provided, such as prototypes, small-batch production, third-party services in Shenzhen such as hardware design, industrial design and etc. For instance, two Citygo Smart Scooter and GJS Ganker Robot, located in Shenzhen, China, are incubated by MM who has been always giving helps in prototyping by 10-year-experience project management team. And now, they are preparing to launch their Indiegogo campaign in July now.
Arie Bar-Zeev, a serial angel investor and the program’s technical advisor says: “While working in the IMI (Israeli Military Industries) I’ve visited numerous industrial areas and measured the benefits of production. In China, Science and Technology Industrial Parks are currently a major source of support for new ventures, among them is the Shenzhen District, that has also become the ideal place for manufacturing. Shenzhen is increasingly recognized as the capital city for prototypers and makers of all sorts, where creating hardware and real stuff is not only possible, but cheaper and better than anywhere else. In Shenzhen, lean manufacturing is not a dream anymore for Israeli startups. It also aligns with one basic principle of the EastMakers Program which is measuring the processes and outputs of the startups in order to lower the production costs, increase revenue and make the company more profitable”.
With such great bunch of local resources in China, MM keens on looking for foreign partners and startups who are innovative and expertise at high-tech. While it is not our first collaboration experience with foreign company, MM has served over 30 startups in a year. Nearly one-third of startups come from oversea. More importantly, in order to stay a close connection with the world’s leading incubation, Founder Space, Sillicon Vally, we established a subsidiary there to not only seeking opportunity of collaboration but also learning.
However, Rome was not built in a day, and we are dedicated looking for talented people and like-minded oversea companies to collaborate. Hila Rosenfeld, StartupEast’s Business Development Manager is explaining further:“The Chinese interest in the Israeli startup scene is undeniable yet it is not easy for Israeli companies to break into the Chinese market without a local partner. For a long time we have searched for the perfect strategic partner until we finally made the collaboration with MM and together created the EastMakers Program. We seek relevant product in the fields of Smart Hardware/IOT/Consumer Electronics, that creates a new lifestyle, improves work efficiency and benefit the world.” Although it is the first EastMakers Program for MM and StartupEast, we are both confident in discovering innovative products and teams all around the world to make a promising future together.