Insight into China’s tech industry: AI, blockchain and metaverse

18.07.2023 Gründerschmiede News

At the beginning of July, an exciting delegation trip to China took place, organized by bw-i. The focus was on artificial intelligence (AI), blockchain and the metaverse. During the five-day trip, participants had the opportunity to visit major companies such as Baidu, ZGC, State Grid, and iFlytech, thus gaining insight into China's booming technology industry. It became clear that these companies are investing significant resources in researching and developing new technologies.

Cooperations and contacts

During the trip, valuable contacts were made with key players in the Chinese startup ecosystem, especially ZhongGuanCun (ZGC), a state-funded technolgy park and JITRI (similar model to Fraunhofer Institutes). Consideration is being given to establishing collaborations with the KIT Founders’ Forge in order to provide our startups with the best partners when they want to expand into the Chinese market. Thus, a significant contribution could be made to achieving the goals of the EXIST V funded project GHPro to build and network the international startup community.

China’s technology sector

The trip to Beijing and Shanghai made it clear that a more intensive examination of China’s technology industry is of great importance. This industry is extremely dynamic and offers numerous opportunities for collaboration and exchange. Particularly impressive was the visit to the World AI Conference (WAIC) in Shanghai, where Chinese companies presented their latest technologies. At the Baden-Württemberg Forum, top speakers from Baden-Württemberg, including Prof. Ovtcharova from KIT, also had the opportunity to present their projects and companies.

The delegation trip to China provided a deep insight into China’s technology industry and made it clear that increased engagement with this market is of great importance. New technology partnerships can be of great benefit to both China and us. Therefore, it is critical to identify opportunities for collaboration and cultivate contacts in order to realize the full potential of this emerging industry. The trip showed that further steps should be taken in this direction to best support our startups as they seek to enter China.