China's Techcode sets up Israeli accelerator

Techode Photo: PR
Techode Photo: PR

The accelerator is designed for medical device companies that already have a working prototype.

Chinese company Techcode, which operates technology accelerators in China and throughout the world, and which began operating in Israel several months ago, is founding a special accelerator in Israel for medical equipment companies interested in operating in China. The company is calling its creation a scalor instead of an accelerator, because it is designed for companies having at least a working prototype, not for companies in the earliest stages.

The accelerator program will give the companies a better acquaintance with the Chinese market with respect to regulation, damages, intellectual property law, companies operating in the market, etc. The companies will not necessarily move to the Techcode site on Rothschild Blvd. in Tel Aviv (companies at this stage are usually established elsewhere), but they will meet there once a week for three months, and receive support from a Techcode team in activity that they are doing or wish to do in the Chinese market. At the end of the period, a weeklong roadshow will be held for the companies in various cities in China, during which the companies will meet with potential investors and partners and visit industrial parks in China.

Techode is a Chinese company with links to the Chinese government. It has founded 10 accelerators in various regions in China, and four more in Berlin, Seattle, Silicon Valley, and now Tel Aviv.

According to accelerator program director Aviram Sela, "Techcode's purpose is to connect Israeli startups to the Chinese market, and the way we do this is very multi-faceted from personal mediation between companies and Chinese investors, to an online roadshow with video conference presentations by the companies from their office to 100 investors sitting in offices in China, to meetings between companies and Chinese delegations visiting Israel (the most relevant possibility), and help in searching for partners and distributors in China for the companies."

Techcode Israel CEO Holo Zheng says, "Our goal is for the Israeli company to eventually have a presence in China, and we therefore favor medical equipment companies, which usually have hardware requiring production. The average Israeli entrepreneur is usually aiming at an exit before the mass production stage, but for those wishing to develop more before the exit, or who find themselves having to do so, our connections are very relevant."

Holo added, "Techcode has connections with the Chinese government and business entities in China. We are aware of any change in Chinese legislation and regulation and its significance specialized knowledge that there is no point in every Israeli company wanting to operate in China acquiring for itself separately. At the moment, we are focusing on creating connections for Israeli companies in the Chinese market, and this is our vision for the next year or two. Techcode has also begun operating similar incubators in other cities, however, including an incubator in Silicon Valley, which is older than the one in Tel Aviv. Later, we will be able to share with the Israeli companies the connections we are making in the US, Germany, the UK, etc."

In addition to the accelerator program, Techcode also has a rework program in which companies having some orientation towards the Chinese market can work on Techcode's site in Israel.

Published by Globes [online], Israel business news - - on August 2, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

Techode Photo: PR
Techode Photo: PR
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