The nature of economic cooperation between China and the United States is mutually beneficial. ChinaBase was established in this era of global collaboration to build a frictionless, effective and trusted gateway enabling U.S. and international startups and growth-stage companies to successfully enter and expand in the China market.
On May 1st, 2018, the ChinaBase Silicon Valley Launch Ceremony was held successfully in Silicon Valley, organized by FR capital, co-organized by WeWork and SVIEF. Lun Wang, CEO of ChinaBase; Hannah Yun, VP of ChinaBase; Lisa Hao, General Manager of ChinaBase;Franklin Urteaga, former White House Innovation Advisor and founder and CEO of Oigetit;Scott Armanini, former Global Lead of Open Innovation of Accenture Ventures; Trevor Curwin, Editor-in-chief of RTinsights spoke at the event. They shared the trend of cross-border venture investment between China and the US as well as new technology outbreaks with 30 innovation leader attendees. There was also a heated discussion on the collaboration between Silicon Valley and Chinese innovation hubs to accelerate the development and landing of cutting-edge technologies.
Lun Wang, CEO of ChinaBase, gave an opening speech, pointing out that the nature of economic cooperation between China and the United States is mutually beneficial. ChinaBase was established in this era of global collaboration to build a frictionless, effective and trusted gateway enabling U.S. and international startups and growth-stage companies to successfully enter and expand in the China market.
Hannah Yun, Vice President of ChinaBase, introduced the goals, background and acceleration program of ChinaBase. Developed in partnership with local governments inChina (Hangzhou and Beijing), major local investors (ICBC, Ping'An etc.), corporations (more than 20 China 500 Fortune), and service providers (WeWork, Roland Berger etc.), the ChinaBase program provides partners a chance to build long-term in-depth cooperation with select applicant companies. ChinaBase shareholders include numerous top 500 Chinese companies and dozens of listed companies which are deeply involved in healthcare, high-end equipment, new energy, high-tech and other fields.
Then, Franklin Urteaga, former White House Innovation Advisor and founder and CEO of Oigetit explained the importance of cross-border cooperation with analytics and cases. Silicon Valley has always been leading global innovation, but in the past few years we have seen China become a new innovation engine where more and more unicorns emerged. For U.S. companies, finding reliable partners is crucial to Chinese market entry. ChinaBase provides exactly such a platform to help startups with localization.
In his keynote speech, Scott Armanini, former Global Lead of Open Innovation of Accenture Ventures addressed on Blockchain technology and trust. Current Blockchain applications are focused in financial services like wallets and payments, providing a trust platform for this traditional industry. While introducing the latest trends in the development of Blockchain companies, Scott also pointed out that differences in geography and culture make it hard to establish trust. In addition to technology solutions, bridging organizations like ChinaBase also serves as a trust platform.
Trevor Curwin, editor-in-chief of RT Insights, focused on the energy sector and proposed the technical cooperation between China and the United States on global climate change. The current energy system is complex and tricky. With the help of "Data Grid," we can manage systems, technologies and platforms to reduce energy consumption overall or to incentivize greenest power.
In the panel, Lisa Hao, general manager of ChinaBase, led the discussion on the opportunities and challenges of companies' overseas expansion. Scott Armanini said that finding a trusted local partner is the first step towards localization. Trevor Curwin believes that successful cross-border companies need to realize and be prepared to deal with the complex market environment in China and the complex regulatory environment in the United States. Franklin Urteaga believes that physically being in the States and communicating with the local government and corporates is a good beginning for a cross-border platform such as ChinaBase.
With the support of strategic partner WeWork Lab, the launch event expanded the influence of ChinaBase in international market. ChinaBase will later sign contracts with key partners, and build a communication channel between accelerators, investors and corporations, so as to mutually understand the demand of each side.