The Toronto-based Ontario Centres of Excellence (OCE), which works to drive the commercialization of research in the province, will work with the China Canada Angels Alliance (CCAA) to bridge the gap between Ontario-based businesses and the Chinese investment community.
OCE and the CCAA will partner with Zhongguancun Haidian Science Park, a high-tech innovation centre in Beijing often referred to as China’s Silicon Valley, and River Capital, an investment fund in China. “It’s about building relationships,” said Dr. Tom Corr, president and CEO of the OCE. “ While the market there is massive, navigating it can be difficult for many reasons. We are creating an environment in which there’s an established relationship that can be incredibly beneficial for the companies seeking
inroads in China.”
Currently, Zhongguancun Haidian Science Park is home to 10,000 business. “Given the size of the market, China offers tremendous opportunities for businesses,” said Corr.
“Connecting Ontario companies and the technologies developed here with investors and other partners in China becomes much easier and more fruitful when you have agreements in place like the one we signed in Beijing.”
This isn’t the first time that the CCAA and the OCE have partnered to help Ontario entrepreneurs benefit from access to Chinese markets. The two already have a partnership through their China Angels Mentorship Program, which has already seen 10 Ontario companies benefit from $2 million in investments, as well mentoring and training on how to access the Chinese market.
“Ontario has some exciting technologies to share with the world,” said said Huang Lei, Deputy Chief of International Cooperation of ZHSP. “We are excited to be able to bring our expertise to this partnership to help them develop and grow.”