Five Israeli startups will be on their way to China this fall, following the opening of the first Chinese-Israeli high-tech accelerator in Beijing.
China’s ShengJing Group and the Israeli Ministry of Economy and Industry will select five Israeli companies to participate in a six-month program with the aim of helping them do business in China. The program will include courses in China’s legal, regulatory and tax environment, as well as meetings with potential customers, partners and investors.
ShengJing is well positioned to help with the latter: The investment firm has provided business training to some 30,000 Chinese entrepreneurs and invested almost $20 billion in other funds as well as direct investments in China, the United States and Israel. ShengJing was named China’s best “fund of funds” in 2015 and 2016. Its Chinese portfolio includes leading companies such as Tencent, Alibaba and Baidu.
The five participating Israeli startups will join fundraising and roadshow trips to Chinese high-tech hotspots such as Shanghai and Guangzhou, will visit ShengJing clients, factories and ecosystem partners, and will receive a dedicated mentor for the duration of the accelerator program.
ShengJing invests through its Peakview Capital arm. In Israel, ShengJing has invested nearly $100 million through venture capital firms JVP, Vintage, Viola and Canaan Partners.
Sherrie Wang, senior partner at ShengJing Group, said that the new accelerator program is a “natural next step” and “a unique opportunity for Israeli high-tech companies aiming to enter the Chinese market with success.”
The deadline to apply for the program is the end of October 2017. For more information, click here.