Handbook for Finnish startups entering the Chinese market
During the past few years, China has experienced a dramatic boom of its startup ecosystem and Chinese authorities have created a wide range of supportive tools for innovative startups.
Tekes has published a handbook for Finnish companies to give a better picture about the startup and accelerator scene in China and to introduce the key startup hubs and their special features.
"Participating in an accelarator or incubator programme is a good way to validate your product-market-fit and to create contacts to potential investors, partners and customers," says Aila Maijanen Product manager for Market Access Programs to Asia at Tekes.
The new handbook is written by Riikka Koponen, Maggie Li and Tero Kosonen from B&B Advisors Shanghai.
The number of Chinese incubators has increased to 4 000 in 2016 – and the number is increasing.
"The majority of the incubators are located in and around China's key startup cities; Beijing, Shanghai and Shenzhen as well as the emerging startup hubs of Hangzhou, Guangzhou and Chengdu", says Arto Mustikkaniemi, Head of Tekes Mainland China.
The incubators relevant for Finnish startups planning an entry to China can be divided into three categories based on their funding background: government-, university- or private capital company-backed incubators.
Tekes can cover part of the costs
Startups and other SMEs can apply apply for Tekes funding to cover part of the participation costs of the international accelerator programmes. Tekes funding covers up to 50 % of the project's overall costs and the funding application has to be submitted to Tekes before the beginning of the programme.