The Roaring Dragon marches in discipline- By Sumeer Walia
CEED October 8, 2018
Unequivocally, China remains the most economically innovative developed nation on the globe, here is a personal experience on a visit to the University of Nottingham as lead representative of CRIKC (Chandigarh Region Innovation and Knowledge Cluster), Chandigarh and Chitkara University at Ningbo, China with a special focus on its Startup Ecosystem. NINGBO, a Coastal city, is the world’s 4th largest Port for International Trade.
The Ningbo innovation park in China is a special Startup Hub setup and funded by the local government: The 120000 Sq mtr area built by the local government has 5 blocks each block has a Focus defined: there are over 200 Startups from various sectors namely in hi-tech and soft tech remain a prominent feature- the government has invested 600 million RMB for this park, which is convincingly descriptive of its efforts and outcome to a visitor! Each block here is stage based- Student and university startup projects, acceleration level projects, high tech, and advanced levels and overseas returner projects etc. The total patents filed in this Yinzhou region in China is around 9000 plus, with 5000 plus invention patents and over 1000 already granted!
The University of Nottingham has a robust Incubator with 21 Hi-Tech Startups within the 150 care plus campus at Ningbo: The University is hosting high prize money Ingenuity 2018 Business plan competition in December 2018 with its Partners nations UK-CHINA & INDIA. Chitkara University and its Centre for Entrepreneurship will be leading 5 -10 High Tech Startups from the region to Ningbo to compete in the Tricounty Biz plan Battle.
Interestingly, the E-bike project is just one of the success stories of the region where 5000 sharing E-bikes were installed in the Ningbo city and these bikes generate a daily revenue of 100000 RMB, with 1 RMB cost per five minutes usage, the project has a good revenue success! No license to the rider works on lock and use theory through an App! Average unit cost of this yellow colored bike is around 650-700 USD.
Yalu the biggest E-bike manufacturing company of China which is behind this E-transport revolution in China has a great role to play! While a local Startup LUIBIKE, an E- mobility Startup has built the sharing bike technology and has piloted it immaculately, thus making it a successful non-polluting easy transport for single or dual riders, interestingly there is an amazing infrastructure for such E- transport!
“Evaluating the Startups through the culture of business credit system!” Pointing towards the above title is another interesting process to learn from here: business credits are given to performing startups and startup projects at the incubator based on these performance evaluations, the duration of stay, incentives etc are awarded to the Startups! Innovation, performance, and culture of competition help Chinese Startup ecosystem hold the edge from the rest of the aspiring Economies globally. The ecosystem is holistic and fast moving with massive support from the local government on space, easy and ready funds, access to research and maker spaces etc.
With a great sense on Fashion, The social life and culture of the Chinese is commendable and to be personally experienced as its locals and tourists enjoy a safe and an integral environment that boasts of respect for all and equality for all. A must visit destination for a business aspirant or a travel freak, China, a uniformly developed and way ahead of its time Nation, that can inspire anyone who can just admire. Super Impressive and miles ahead of other business ecosystems, Ningbo, provokes an eye-opening learning. China, the quiet and fast marching Industrious nation in an order of high discipline enjoys the worlds highest reserves and there is a lot that other nations, especially India can learn from the Giant Dragon that Roars, as it marches in Discipline.
Learnings from China:
Sumeer Walia- Director-Chitkara University Centre for Entrepreneurship & Education Development at University of Nottingham-Ningbo-China-Sept-2018