Initially, Chinese products are famous for their cheap quality, but day by day China is becoming the major tech innovator. And the game-changing behavior of the China proposing two sides of the coin for the U.S, one side works as a magnet for the U.S venture capital investment, and the other side produces an invisible dominant force in innovation, proved by the fact that the country set up a new record for filing the most patents, ever.
A massive report has been produced by the Boston Consulting Group, glimpsing that Chinese graph continuously, is progressing towards the $1 billion valuation mark faster than their U.S counterparts and about to overtake.
There is such a platform for tech innovation in the place that China could soon to match — and even potentially overtake — Silicon Valley can be considered as a world’s powerhouse of tech innovation. A rough judgment gives the credit to the market size or the support from the government but a truly effective weapon can be considered to the innovative mindset. And Chinese are playing tech war with this secret weapon.
Three factors can be included to show the glimpse of mindset:
- Removing the competition by collaborating with other firms, can consider to Alibaba, Tencent, and DJI, which all have untold stories of success presently.
- New approaches to hiring that avoid the useless tradition.
- A shifting approach from existing product towards the future product, rather than staying attach to the present one.
Above mentioned companies such as Alibaba, Tencent, and DJI, along with the expansion into new business platforms, they are applying pulling and pushing force to their strategy, comprise investment power and reach. Collaborative point adds the power to the business model to produce innovation in it.
Apart from collaboration point, just having investment isn’t enough to create a success story, therefore, Chinese tech has forged to them to avoid hiring issues that are presently affecting Silicon Valley.
As an illustration, while the controversy over diversity has made an impact on the companies such as Google and Uber, and beaten by the new moves of ride-share DIDI Chuxing, includes mobile discount partnerships with Tencent for rideshare business.
The secret to getting real growth strength is to develop business focus on having an ongoing global impact rather than thinking about the current product iteration.
As an illustration, Shenzhen Onething Technologies, a well-known cloud computing company, is producing millions of dollars to their customers such as Panda TV from a couple of years. Recently, the company had a session at the SXSW conference and its new perspective toward video will enable it to compete globally in just a few months.
All the AI-based computing and VR offerings will require the massive storage, there will soon be ceiling issues. Shenzhen Onething Technologies is the first company in its category to provide content delivery networks (CDNs) of ‘infinite node’, to solve the raised problem.
China has spent heavily during the last few years developing its technology, especially on manufacturing.