In mid-December the Regional Council of South Karelia, Mingle Advisors and LUTES organized International Entrepreneurship: The Chinese Ecosystem event. During the hybrid event the participants got an idea of the Chinese ecosystems effect on entrepreneurship and innovations in general. The main speaker of the event was Lauri Tammi. Tammi is the CEO and Founder of Mingle Advisors, a company specialized in helping new companies to enter Chinese market.
Expandint the company to China is not as difficult as thought
According to Lauri Tammi, China is full of possibilities and is very open and inviting for global partners. China is not the backwards country as some might still think. According to Tammi’s experience working as business advisor, China is a very advanced and vibrant country, especially in the urban areas. (Tammi 2021.)
Even if China is open to newcomers, you need to be aware of cultural differences. Chinese people have a bit of different approach in trusting people than Finns, for example. In Finland, we trust you unless you prove otherwise, but in China it is the other way round. You need to proof your trustworthy first. This might take time, but Tammi believes that as long as you keep on going and work towards the goal it is achievable. (Tammi 2021.)
Finns, and Nordic countries in general, have a very good reputation for being innovative and trustworthy. In that sense companies from these countries might find it a bit of easier to enter China. On the other hand, Tammi reminds audience that there are differences on how easy it is to enter the Chinese market with your product. If your company is concentrated on digitalization, sustainability, or clean tech, you are welcomed with open arms. However, if you work in the cyber security or other sensitive area it might be extremely difficult. (Tammi 2021.)
Tips for companies interested in Chinese markets
Lauri Tammi gave many useful tips on his presentation, here are some of them:
- translate your company’s name into Chinese
- study Chinese language and culture
- avoiding conflicts is part of culture, take it into account when difficult topics arise
- be aware of the political climate
- respect and understand hierarchy in the culture and inside companies.
Baltic Explorers helping game companies to enter China
The aim of the Baltic Explorers project is to help game companies from Baltic Sea Region countries to reach success in South-East Asian and North American game markets. Baltic Explorers project supports game companies by providing to them necessary tools, network and mentorship, to catch a deal from China, for example. The project helps a fine-tuning of the games for investor or publisher readiness at the largest B2B events in Asia or USA.
Ria Gynther works as an RDI Specialist at the LAB University of Applied Sciences, more specifically in the Baltic Explorers game industry project.
Tammi, L. 2021. About startups in China and tips for entrepreneurs. Talk at International Entrepreneurship: The Chinese Ecosystem event 15.12.2021.
Baltic Explorers. 2020. About us. [Cited 15 Dec 2021]. Available at: https://balticexplorers.eu/
IGDA Finland. 2021. About us. [Cited 15 Dec 2021]. Available at: https://www.igda.fi/about-us
Image 1. LUTES. 2021. International Entrepreneurship: The Chinese Ecosystem event 15.12.2021. Screenshot: Ria Gynther.
Image 2. Tammi, L. 2021. About startups in China and tips for entrepreneurs. Talk at International Entrepreneurship: The Chinese Ecosystem event 15.12.2021. Screenshot: Ria Gynther.
Image 3. Newzoo. 2018. South Korea Games Market 2018. [Cited 15 Dec 2021]. Available at: https://newzoo.com/insights/infographics/south-korea-games-market-2018/