China is a market no one can overlook
The context of the 2020 Design Intelligence Awards for UK entrepreneurs, innovators and designers is how UK start-up and scale-up firms are capitalising on sustained growth in China particularly in tech. UK scale-up firm Open Bionics are leading the charge winning £115,000 with Hero Arm in 2019. Jeff Cao, respected China expert describes how China is a market no one can overlook.
Jeff Cao is a widely respected China expert and used to lead the Mayor of London’s Asia Pacific investment team and sat on the Board of China Britain Business Council. Before joining the GLA family, he was a strategy consultant with a London-based management consultancy. Prior to that, he was an investment banker based in China.
“A few years back, over one of my many visits to Shenzhen I got asked by a local journo during an interview about prospects of UK-China collaboration on AI. “Huge opportunities”, I responded, “as Shenzhen has got data and we’ve got algorithms”.
So, what does China mean for our tech scale-ups and creative companies given the new normal facing us post Covid-19? A simple answer is that, China is a market no one can overlook, and a partner of choice to work with both here in the UK also China.
China is fast becoming one of the world’s top innovators and creative superpowers. Innovation there is taking place at breakneck speed. A third of the world’s unicorns are now Chinese. With a population more than America’s and Europe’s combined, as well as a ballooning middle class, China makes a huge market for British brands.
China is one of the top ten global investors into tech, and the UK is the top four global destination for Chinese tech investment. Against public perception, tech — not property — is the largest industry for Chinese investment into London. From 2013 I’ve seen a marked increase in tech investment from China. Around a quarter of Chinese investments into London are channelled into tech industry, in recognition of London’s position as a global tech hub.
British originality, capability to innovate, availability of skills, friendly regulatory framework, as well as connectivity both physical and digital have made the UK, London in particular, a natural partner to China which is rapidly upgrading its economy.
Originality meets ingenuity
The economic recovery post Covid-19 in China has seen accelerated growth in investments into tech for industry upgrade as well as creative industries to boost private consumption.
Despite a no-deal scenario in the UK, the hypothesis of decoupling from China, and increased scrutiny out of national security concerns, China remains a no brainer for most of our tech scale-ups and creatives to explore potential partnerships. Some of our idea owners can even contemplate starting up their businesses in China!
That aside, Chinese creativity is based more on progressive improvement and adaptation. More often than not, you will come across Chinese start-ups headed up by an engineer, not a designer or an artist as you would see here. Originality is still a scarce commodity in China, whilst such originality is produced here from everyday ingenuity.
What if, then, when British originality meets Chinese creativity?
You tell me!”
Potential through partnership
Jeff’s proposition of growth through collaboration is backed by the 2019 Tech Nation report. The UK is attracting more investment, whilst China’s size and growth in entrepreneurs is significant. Put the two together and there is a potential winning combination.
Gerard Grech, CEO of Tech Nation. “As global connections continue to become even more important for the health of the global economy, there is a responsibility for us to understand how best we can engage with global collaborators, investors and partners.”
Source: Tech Nation report 2019
UK tech growth outstrips US and China
The number of rapidly growing UK tech companies soared as venture capital investment increased by 44% in 2019. Growth in VC investment exceeded 40% for the third year in a row.
On a global scale, the UK’s performance in 2019 means it now sits behind only the US and China in terms of total venture capital funding received in 2019 and on a city-level, London joins the Bay Area, Beijing and New York at the top of the world’s most-funded locations. Companies headquartered in London raised £7.4bn during 2019.
Digital Secretary, Nicky Morgan. “These brilliant new numbers demonstrate the strength of the UK tech industry and how it is a sweet spot of our economy. Our tech companies are not only commanding the confidence of global investors but they are also creating new jobs and wealth across the country.
Source: Tech Nation report 2019
China entrepreneurs are expanding fast
The £49.9 billion Chinese scale-ups attracted during the four-year period was 20.4% of the global total.
The report signals that China has shown a huge interest in entrepreneurship, 29% versus the global average of 17% showing an interest, with strong sentiment in Shanghai and Beijing.
China attracted a large number of technology talents and employed 19% of the world’s high-growth technology workers.
Gerard Grech, CEO of Tech Nation. “The findings of the 2019 Tech Nation report, has revealed that China is a strong contender in global tech developments. Looking at global investment, China attracted 50 billion pounds in high-growth scale-up investment between 2015 and 2018, placing it second in the world in this regard.”
Entering DIA is simple. It’s quick, easy and free to apply. Deadline: July 6th
Enter at: https://en.di-award.org/.
Details at: https://medium.com/@johnmathers2
Follow news on: https://www.linkedin.com/company/british-design-fund/ and https://www.linkedin.com/in/johnrmathers/
Contact: john@britishdesignfund.co.uk
China is a market no one can overlook
The context of the 2020 Design Intelligence Awards for UK entrepreneurs, innovators and designers is how UK start-up and scale-up firms are capitalising on sustained growth in China particularly in tech. UK scale-up firm Open Bionics are leading the charge winning £115,000 with Hero Arm in 2019. Jeff Cao, respected China expert describes how China is a market no one can overlook.
Jeff Cao is a widely respected China expert and used to lead the Mayor of London’s Asia Pacific investment team and sat on the Board of China Britain Business Council. Before joining the GLA family, he was a strategy consultant with a London-based management consultancy. Prior to that, he was an investment banker based in China.
“A few years back, over one of my many visits to Shenzhen I got asked by a local journo during an interview about prospects of UK-China collaboration on AI. “Huge opportunities”, I responded, “as Shenzhen has got data and we’ve got algorithms”.
So, what does China mean for our tech scale-ups and creative companies given the new normal facing us post Covid-19? A simple answer is that, China is a market no one can overlook, and a partner of choice to work with both here in the UK also China.
China is fast becoming one of the world’s top innovators and creative superpowers. Innovation there is taking place at breakneck speed. A third of the world’s unicorns are now Chinese. With a population more than America’s and Europe’s combined, as well as a ballooning middle class, China makes a huge market for British brands.
China is one of top ten global investors into tech, and the UK is the top four global destination for Chinese tech investment. Against public perception, tech — not property — is the largest industry for Chinese investment into London. From 2013 I’ve seen marked increase in tech investment from China. Around a quarter of Chinese investments into London are channelled into tech industry, in recognition of London’s position as a global tech hub.
British originality, capability to innovate, availability of skills, friendly regulatory framework, as well as connectivity both physical and digital have made the UK, London in particular, a natural partner to China which is rapidly upgrading its economy.
Originality meets ingenuity
The economic recovery post Covid-19 in China has seen accelerated growth in investments into tech for industry upgrade as well as creative industries to boost private consumption.
Despite a no-deal scenario in the UK, the hypothesis of decoupling from China, and increased scrutiny out of national security concerns, China remains a no brainer for most of our tech scale-ups and creatives to explore potential partnerships. Some of our idea owners can even contemplate starting up their businesses in China!
That aside, the Chinese creativity is based more on progressive improvement and adaptation. More often than not, you will come across Chinese start-ups headed up by an engineer, not a designer or an artist as you would see here. Originality is still a scarce commodity in China, whilst such originality is produced here from everyday ingenuity.
What if, then, when British originality meets Chinese creativity?
You tell me!”
Potential through partnership
Jeff’s proposition of growth through collaboration is backed by the 2019 Tech Nation report. The UK is attracting more investment, whilst China’s size and growth in entrepreneurs is significant. Put the two together and there is a potential winning combination.
Gerard Grech, CEO of Tech Nation. “As global connections continue to become even more important for the health of the global economy, there is a responsibility for us to understand how best we can engage with global collaborators, investors and partners.”
Source: Tech Nation report 2019
UK tech growth outstrips US and China
The number of rapidly growing UK tech companies soared as venture capital investment increased by 44% in 2019. Growth in VC investment exceeded 40% for the third year in a row.
On a global scale, the UK’s performance in 2019 means it now sits behind only the US and China in terms of total venture capital funding received in 2019 and on a city-level, London joins the Bay Area, Beijing and New York at the top of the world’s most-funded locations. Companies headquartered in London raised £7.4bn during 2019.
Digital Secretary, Nicky Morgan. “These brilliant new numbers demonstrate the strength of the UK tech industry and how it is a sweet spot of our economy. Our tech companies are not only commanding the confidence of global investors but they are also creating new jobs and wealth across the country.
Source: Tech Nation report 2019
China entrepreneurs are expanding fast
The £49.9 billion Chinese scale-ups attracted during the four-year period was 20.4% of the global total.
The report signals that China has shown a huge interest in entrepreneurship, 29% versus the global average of 17% showing an interest, with strong sentiment in Shanghai and Beijing.
China attracted a large number of technology talents and employed 19% of the world’s high-growth technology workers.
Gerard Grech, CEO of Tech Nation. “The findings of the 2019 Tech Nation report, has revealed that China is a strong contender in global tech developments. Looking at global investment, China attracted 50 billion pounds in high-growth scale-up investment between 2015 and 2018, placing it second in the world in this regard.”
Entering DIA is simple. It’s quick, easy and free to apply. Deadline: July 6th
Enter at: https://en.di-award.org/.
Details at: https://medium.com/@johnmathers2
Follow news on: https://www.linkedin.com/company/british-design-fund/ and https://www.linkedin.com/in/johnrmathers/
Contact: john@britishdesignfund.co.uk
