How to get approval in China as an European Dx Startup?
The Middle Kingdom has managed to do what other emerging markets are still far from doing: In just a few decades, the country's increasingly flourishing economy has almost conquered the markets for itself, for Europe and the USA are in no way inferior in terms of innovation, quite the opposite: Hotspots such as Dream Town in Hangzhou, Shenzhen or Beijing could soon seriously set Silicon Valley back as a pioneer. Their advantage: Ubiquitous information and communication technologies, deeply integrated into the everyday lives of their users, whereby among the nearly 1.5 billion people in China there are currently around 720 million Internet users, according to forecasts even 300 million more in the coming years. In contrast to Western nations, digitization is no longer an issue in China. Instead, the innovative spirit is free and has almost evolutionarily recreated entire ecosystems. Apps such as WeChat have ubiquitously expanded the understanding of socio-technical systems. They offer their users the opportunity to manage all their areas of life (e.g. health, mobility free time and finance) within a single platform with just a few clicks. This was made possible by financial state support: The last limitations of the innovative spirit are gradually being overcome in the government as well, at least as far as the market conquest of modern ICT-based sectors is concerned. To this end, incubators have been created – efforts that have been linked to university education and to make it as easy as possible for young people to enter the lucrative system. The favourable domestic breeding ground also limits competition in the country as far as possible to domestic representatives, because due to the complex legal and bureaucratic framework conditions for international companies, the Chinese market remains largely unaffected by these, while the doors are wide open.