Techsumption Ventures recently worked with a financial services startup based in Singapore to secure RMB$1,500,000 (approximately S$300,000) in funding from the Nanjing government to further expand and commercialize their business in China.
It is widely known that doing business in China is highly opaque with many interchanging elements. Despite their successful growth story, elements of a traditional system still remain rooted in today’s commercial environment. For example, much of the administrative and logistical work still required a hard paper copy, on top of multiple stamps. Government officials also prefer reading word documents than PowerPoint presentations.
During the entire application and execution process, Techsumption Ventures coordinated with key government personnel and team members on the ground in China to ensure a smooth communication process. In the face of sometimes conflicting or ambiguity in news and policies, we clarified them and let our partners know what were the next steps. We went on further to assist with the filling of crucial paperwork and request for key information/validation required while facilitating government and startup conversational exchanges.
While doing business in an entirely different country will not always be as straightforward as doing business in Singapore, we seek to bridge the gap to China for our valued partners and customers.
Do you have an exciting deep tech project you would like to share? Please reach out to us at firstname.lastname@example.org to explore how we can help accelerate your business in China.