Italian Tech conquers China with ISIC2017!
The Italian Scale-ups Initiative in China 2017 has come to its conclusion. As the only initiative for the New Italian Economy in China, ISIC2017 has highlighted three national innovative companies, reaching important achievements across Chinese territory within one week. Last but not least result which has been accomplished is the signing of an agreement for the creation of an investment fund for Italian companies bringing their innovation to China.
Leaders of the initiative: Tech Silu, the China-Italy Chamber of Commerce and ThinkIN China, with the support of the Embassy of Italy in China. The tight-schedule week is the result of months of work, motivated by the aim of fostering three Italian technologies in Beijing. The success has been celebrated with the credits of the Ambassador to Italy in China, Mr. Sequi, in front of an audience of international investors and stakeholders. The leading scale-ups are: D-Orbit (commissioning/decommissioning satellite), Xnext (Inspection Technology) and Tok.TV (social networking platform on sport).
ISIC is designed to become the springboard to the Chinese Market for the best Italian innovation and technology.
What is ISIC?
ISIC2017 started last April with a call for Scale-ups which are ready to bring their business to China: more than 50 applications were screened by the Selection Committee, and 20 passed the first round of the selection process. Then, a Judging Panel composed by 9 relevant stakeholders and several Chinese investors selected the Best 10 Scale-ups. D-Orbit, Tok.tv and Xnext were selected as the 3 finalists of the first edition of ISIC, and flew to Beijing to take part in the final phase of the initiative.
The final phase falls in the “Mass Entrepreneurship and Innovation Week”, the official governative event hosted by Zhongguancun Innoway, Beijing innovation hub. ISIC2017 brought for the first time the Italian tech in the governative initiative, with D-Orbit as the only foreign company to be selected to have its own stand in the Zhongguancun Innovation Centre. The intense week culminated into an exclusive ceremony at the Italian Institute of Culture of the Embassy of Italy in Beijing, when the Scale-ups received their prizes and where they had the chance of networking with special guests, investors, Italian and Chinese entrepreneurs and institutions.
Our Tech Diary put together all the highlights of ISIC week, full of events and meetings:
Day 1 – Sunday 17th September. “Mass Entrepreneur and Innovation Week” begins: D-Orbit is the only scale-up which represents the foreign ecosystem. The day goes on at Tech Silu’s office in Sanlitun Soho, with a briefing about the startup market in China and the possibilities for a strategic entrance.
Day 2 – Monday 18th September.
The first part of ISIC: the event sponsored by Z-Innoway, partner of the initiative, where the Best3 Scale-ups introduced themselves in front of an audience of several Chinese stakeholders interested in innovation and startups Made in Italy. During one-to-one meetings, Tech Silu supported the Best3 with key players of the Chinese ecosystem. The day continued with key meeting with the Working Groups of the China Italy Chamber of Commerce: Xnext met Maria Santonastaso, China Deputy Country Manager and International Business Development Manager at Dedalus Healthcare System Group; D-Orbit had a meeting with Mr. Riccardo Coli, Secretary General and Board Member of IAN and coordinator of AAWG (Aviation and Aerospace Working Group of CICC).
Day 3 – Tuesday 19th September.
Among all the visits, the pic of the one of D-Orbit with Spacety, one of the biggest aerospace company in China. Meanwhile, inside the buildings of Z-Innoway, the program “Demo the World” is launched, it is one of the most relevant international startup events of the week: Xnext takes part in the contest as the representative of the Italian innovation. Francesco Rossi, during this event, was invited as a speaker to a panel dedicated to the pain points of the internationalization process.
Day 4 – Wednesday 20th September.
Wednesday 20th September. The biggest maker space in the world, the iCenter at the Tsinghua University, received Xnext and D-Orbit. During the visit, the necessities of the innovation centres in China came out: they are always looking for new ideas from Italy. Later on, D-Orbit met with Space Law Professor, Mrs. WU Xiaodan, and they discussed together about space debris mitigation regulation in China.
D-Orbit and CAST (China Academy of Space Technology) meet to analyze the possibilities of the Scale-up into the aerospace sector in China.
Day 5 – Thursday 21st September.
The EU SME Centre welcomes Xnext with a presentation of a deep analysis of the opportunities, weaknesses and possible solutions for a successful entering into the Chinese Market.
Day 6 – Friday 22nd September.
The final event opens up with the speech of the Ambassador Ettore Sequi, who congrats with ISIC’s organizers, the first initiative which brings the innovation and the creativity of Italian Scale-ups in China. In the last part, before the final networking session, there was the sign of a Memorandum of Understanding between Tech Silu and the biggest Chinese fund of private equity funds, the China Grand Prosperity Investment (CGP), with ThinkIN China as policy advisor, for the constitution of a fund which supports Italian scale-ups selected to enter into the Chinese Market. A part of the fund will involve also the cryptocurrency area.
Special thanks go to ThinkIN China and to the China-Italy Chamber of Commerce, to organize with Tech Silu such a significant initiative. Thanks to our partners: Zhongguancun Innoway, Etihad Airways, StartupBusiness and Caixin Globus for the support. Last but not least, thanks to the Italian Embassy in Beijing for believing and supporting Tech Silu’s projects that aim to connect the Sino-European Ecosystem, for the second consecutive year.