When I arrived in Sydney I couldn’t forget what I started in Melbourne so, I was interested to know more people involved in the dynamic of technology, business, and start-ups. One of the first groups I found was North Sydney Innovation Network and it was interesting to discover more details about the dynamic in the commercial relations between China and Australia, as well as, the participation of Tech Startups in the West Coast, US.
The event was organised by @WORKinc, a company focused on offering co-working space across the Northern end of Sydney Harbour. Jonathan Herrman invited me after I found him searching for people interested to show the story online. It was an interesting first approach to Sydney’ start-up environment. Particularly, when the topic was linked to commercial relations with other countries. The panel discussing the topic had a lot of knowledge and hundreds of travels to China to discover what kind of services its population needs at the moment.
Ken Taggart founder of Chatty Kids, Changing how children learn was one member of the panel. Sitting next to him we found Emily Hung, General Manager from Winglong Pty Limited, Sarah Tritsch from Star Jasmine, who played the role of facilitator; and an expert in investment Terry Hilsberg. All of them share similar advice with different visions.
One of the most important keys is learning Chinese because it is not so common to find people speaking the Shakespear’s language across the streets. Taggart mentioned the possibility to find English speakers in hotels and restaurants but the people used to speak Mandarin so, taking some lessons wouldn’t hurt anybody interested in this market.For him and Terry, there is a crucial element to do business there, as well as, traveling to China. In that sense, they remark the lack of interest in Australians to increase their wealth with this kind of initiatives, a fact they are trying to modify through events like this one.
During the conference, each one decided to talk about particular benefits and opportunities in the Chinese market.
WINGLONG PTY LIMITED, General Manager
“We found each day younger students, who are deeply interested to find solutions. Sometimes, using their ideas is quite complicated. Particularly, when innovation sometimes is not linked to regular values you found in another kind of measurable products.”
She expressed the interest of her company to prepare a group of students or teams to create successful start-ups for different competitions, where they can find economic or financial support to begin from zero.One relevant advice is traveling to the country or city you are interested to serve with your products or services because it is the only way to analyze if it is going to be useful, as well as, you could verify if there are other opportunities for your start-up. Another aspect she considered relevant was the purpose of training teams, which is a relevant aspect to pitch your idea and company in a successful way in front of potential investors.
INNOHUB CAPITAL, Venture Partner
“You cannot make business in China if you decide to stay in Australia. Mobility is one of the main goals for fulfilling goals.”
For this venture partner, the main goal is searching elements to offer services to more than one thousand to one million customers in the first three to six months. Even if you are not asking an excessive amount of money for your product or service monthly. The number of customers lets you keep going with your business farther than you expected.
It is important to study the market and verify the kind of services you want to offer there. To get the proper approach is necessary to understand the culture, which is completely different from Western. However, there are opportunities for everyone. If you do a good research and expose your idea, as well as, determine the cost to create your start-up, it is possible you will find Investors interested in your idea from China, from Australia, from the United States, even from Europe.
CHATTY KIDS, Founder & CEO
“I believe multicultural teams are the most effective because they possessed a different vision, as well as, creativity to solve problems.”
Ken Taggart expressed how difficult is managing a company located in China from Australia. For him, the most relevant aspect is having a great team with people from different countries, particularly, chinese if you are interested in that market. For example, creating a campaign o analysing the best strategies of Marketing for that market will have better results when you work with people who lives in the country and or has a strong connection with it.
Although Ken is honest. “Sometimes, you have some cross-cultural issues and you need to explain that is not how the things work, I want you to tell them in Chinese this is going to work in this way.”