New Business Accelerator Opens Up Opportunities for Alberta Entrepreneurs in China
A new business incubator that will facilitate access to the Chinese market for Alberta technology innovators opened its doors today in Edmonton. The TEC Edmonton-TusStar Accelerator Exchange, a partnership between the University of Alberta (U of A) and Tsinghua University, offers training and support to break down business and cultural barriers – including language, intellectual property policies, regulatory concerns, and differences in business etiquette – between the two countries. The exchange is the first Canadian office affiliated with Tsinghua University’s TusStar, China’s largest network of incubators with more than 80 in 45 Chinese cities. TEC Edmonton is a business accelerator, the result of a joint venture between the U of A and the Edmonton Economic Development Corporation. Four Edmonton-area technology-based companies – ClickDishes, Direct-C, Juniper and VADU – are already enrolled in the program. The opening of the exchange in TEC Edmonton’s Innovation District in Enterprise Square comes one month after a similar space opened at a TusStar incubator in Shanghai, where Chinese companies that want to access North American markets and establish headquarters in Edmonton or Alberta can get the same kind of support from the partnership.