Enterprise Singapore, XNode to launch China-Singapore Innovation Launchpad
Original News URL: e27
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Enterprise Singapore and XNode, an international entrepreneurial community that connects Chinese and overseas entrepreneurs, have signed a Memorandum of Understanding (MOU) since May 24 that will see the launch of China-Singapore Innovation Launchpad in Shanghai. The MOU was signed at the inaugural Singapore-Shanghai Comprehensive Cooperation Council.
Under the MoU, XNode will provide a series of customised programmes and activities to support Singapore startups’ expansion to China and give access to the Chinese market, including potential investors, partners, customers, talent resources – with the possibility to raise funding by investors on a demo day event in the last day of the programme.
XNode will kick off the first accelerator programme in Shanghai this October 2019.
The programme will run its one-week kick-off workshops in Singapore, followed by two weeks of immersion and business trip in Shanghai to build business connections for startups’ expansion. There is also the option to extend their stay in Shanghai to build further connections and establish themselves within the market.
The launchpad has already accepted applicants from the fintech, medtech, smart manufacturing or IoT, edutech, cleantech, urban solutions, retailtech, and other B2B sectors that have proven their business model in Singapore and are ready to expand abroad from now until September.
The first run of the programme will involve about 10 Singapore startups.
Wei Zhou, Founder & CEO of XNode said, “In terms of technology, number of users, and purchasing power, China is leading the world. Chinese consumers travel abroad and buy everything imaginable. With its large expat entrepreneur population, Shanghai is an international innovation hub that will continue to be the bridge between China and the outside world.”
XNode and Enterprise Singapore are also planning for a similar programme in Singapore to encourage the exchange of startups and further boost startup collaboration between Shanghai and Singapore.
Currently, XNode runs three coworking spaces in Shanghai and has offices in Tokyo, Eindhoven, and Singapore.