A Shenzhen-based accelerator, InnoHub, signed a Memorandum of Understanding with its Australian partner in front of hundreds of representatives from innovative technology institutions at a seminar in Shenzhen yesterday morning.
The signing took place at the one-day Australian China Innovation Exchange, one of a series of events that are part of Australia Week in China (AWIC).
More than 100 top research institutions, universities and startups from Australia participated in the seminar. Representatives from Australia and China exchanged ideas about operating businesses in innovative technology, with a special focus on startups, entrepreneurship and incubators.
The AWIC 2016 program will feature trade and investment seminars, roundtables, product introductions and networking opportunities.
Eight sector-specific programs are to be held in cities including Shenzhen, Guangzhou, Hong Kong, Beijing, Chengdu, Hangzhou and Shenyang before all delegates gather in Shanghai.
The project agreed in the MOU, according to Xu Hongbo, founder and CEO of InnoHub, will help an Australian education alliance.
Both China and Australia are seeing an unprecedented amount of growth in innovative technology startups, according to Peter Riddles, a member of the board of the Commonwealth Scientific and Industrial Research Organization and also the AWIC delegation leader.
Riddles, in a keynote speech yesterday, explained Australia’s plan to boost startups. The plan was first announced by the federal government at the end of 2015. Riddles said Australia wants to form closer ties with China in terms of innovative technology.
Representatives from an Australian accelerator named Muru-D also joined yesterday’s opening ceremony. Annie Parker, co-founder of Muru-D, said she has been interested in the startup scene in Shenzhen for a long time.
Muru-D organized tours to major cities in China, including Shenzhen, last year for Australian startups and worked with local accelerators like HAX in Huaqiangbei.
Parker said that they expected to invest more in Guangdong startups.
One of the Australian startups, Tripalocal, an online travel platform, expanded overseas markets via Muru-D, according to Jemma Xu, CEO of Tripalocal.
Almost 1,000 Australian businessmen will be on the trip this week in a bid to capitalize on business opportunities arising from the recent free trade agreement between China and Australia.