Skip to main content

This First-of-its-kind Accelerator is Going to Make It Way Easier for Nordic Startups to Take on China

This first-of-its-kind accelerator is going to make it way easier for Nordic startups to take on China
Business Insider Nordic

Last month Finnish investment firm Pivot5 launched the first business accelerator between the Nordics and China, the Nordics-China Innovation and Startup Acceleration program. It is run in cooperation with Beijing-based business incubator COMB+ and aims to help startups based in the Nordics establish and grow their presence in China.

Pivot5, formerly known as KoppiCatch, is one of the most successful investment companies for early-stage startups in Finland. Their portfolio includes IndoorAtlas, who went on to raise $10 million from Baidu, as well as Minun Sports, a Danish startup that provides football training tools and is endorsed by the likes of Cristiano Ronaldo and Arsenal FC. Both of these startups have also enjoyed success on the Chinese market.  

COMB+ is owned by SkyOcean, a publicly listed company on the Hong Kong Stock Exchange (SEHK). It has two campuses, with room for hundreds of companies, as well as an established investor network.

Regarding this new partnership Mr. Ling "Leo" Zhu, COMB+’s CEO, explained:
"We see Helsinki and the whole Nordic region as the natural bridge between Europe and China. No one should attempt to enter the Chinese market by themselves. However, finding the right partner is easier than generally thought.”

Looking at how the need for this kind of accelerator came about, Torsti Tenhunen, founder of Pivot5, points to perceived stereotypes about launching a startup in Asia’s biggest economy. 

For him, this partnership “helps firms overcome their concerns when it comes to doing business with China, which tend to fall into three groups: 1) Bureaucracy, censorship and government complexity, 2) A challenging contextual culture and language, 3) Fraud, copycats and the fear of violent IPR-transfer.”

As for why Pivot5 chose to work with COMB+, Tenhunen went on to add that the Beijing incubator “has a very close relationship with local and provincial governments, uses trusted experts full of useful advice, and works with a strong network of investors.”

The kick-off event took place just before Slush, and was attended by over 100 entrepreneurs and investors. It also involved a pitching competition, with 10 pre-selected startups pitching their business ideas to a panel of judges. The top prize included a free “acceleration week” in Beijing, including investor meetings and pitchings, customer meetings, and workshops.

Among the ideas pitched was Reverse Resources - a startup that has developed software for recycling and reusing the billions of tons of leftover material from the fashion industry.

Another impressive idea came from Heliostorage, with their concept for harnessing the power of the sun all year round (even during the sunlight-starved months of Finnish winter!). But the eventual winner was Jakamo, a supply chain collaboration platform for the manufacturing industry.


Popular posts from this blog

4 Ways to Make Extra $100 on Social Media

What if I offered you an extra $100 today, would you take it? I know I would. Extra money definitely comes in handy.

Many individuals concentrate on saving money, yet expanding it is the opposite side of that coin. You can use your skills, your social media on your spare time to make few extra cash today.

Social Media 1. Sell Photos Do you have many followers on Instagram? try selling some of your photos. Stock photo sites hire photographers, professionals, and amateurs alike.
2. Sponsored posts. If you’ve got a large following on social media, brands will pay to get access to them. You can charge per post, or set up a long-term agreement with a company. Try applying for a Famebit Creator account, promote your social media profile to advertisers and make easily $100 or more. 3. Work as a freelance virtual assistant. You can use your skills to build a company’s social media. You can charge $30 an hour easily, and make $100 in less than four hours. You may want to create a gig in Fiver…

[METHOD] New Way to Create and Promote Dropship Business

Business Idea: Dropshipping Profit: $2,000 - $30,000 per month
Want to earn 6-7 figures a year? Why not try dropshipping! They are already hundreds and thousands of successful dropship entrepreneurs earning millions a year. And most of these entrepreneurs ordered products from AliExpress and sold it double at their online shop.

Did you know that most of the AliExpress/Alibaba items are sold on Amazon and eBay, and not only those that are delivered from China? AliExpress is the retail arm of Alibaba, the wholesaler. I've been looking at reviews and sales numbers for AliExpress items on eBay and Amazon to give me a superior thought of what sells best in USA and UK.

I've discovered that there is a considerable amount of low-quality items on Aliexpress and that you must be watchful who you purchase from. But I listed down some reliable sellers and items worth selling. A high rate of positive reviews doesn't really mean a lot – it's normal for sellers to give rebates or di…

[METHOD] Make Money through Facebook Page + CPA Affiliate Campaign

I recently saw some Facebook pages doing some giveaways . They were mainly about luxurious cars Range Rover, BMW, Mercedes etc. Maybe some of you have seen them too they are still out there.
I didn't like the idea but anyways I decided to test it. 
Results : I made ~ $1000 in 3 days. the fake page & FB account I was using got taken down.
I'm no longer using this method since it's not that sustainable but I feel it may help someone get started in IM or provide someone with new ideas on how to make money on fb
1.) Have a Facebook account.  You should preferably not use your real Facebook account if you want to use blackhat on this method.
2.) Create a Giveaway Page. Have a creative story on your page like this one:

Win 1 Of 2 Beautiful [car name] (Ends on [date])

This will be the first time in Facebook History that we at [car name] will be giving away 2 Beautiful [car name] to two winners that we will randomly select on [date]

Want to join this amazing giveaway for a cha…