Innovators embrace the fast pace
Amid the hustle and bustle of Shanghai, a select group of
UQ students are living their dreams in China’s fast-paced
and ever-growing startup business world.
Amid the hustle and bustle of Shanghai, a select group of
UQ students are living their dreams in China’s fast-paced
and ever-growing startup business world.
More than 70,000 startups have reportedly set up in Shanghai since mid-2016, and each year students from a range of backgrounds are embracing the opportunity to spend four weeks learning from these businesses through the UQ China Mobility Program.
China Mobility Program student entrepreneurs Lachlan Jensen, Gemma Macarthur, Chloe Chai and Alex Barnett at Chinaccelerator, a leading startup accelerator in Shanghai. Image: Bhodi Connolly
The program is an initiative of the UQ Idea Hub, one of the University’s campus-based idea incubators and accelerators, where students learn the process of founding, investing and growing an early-stage business in China.
Commerce and business management student Chloe Chai spent a month this year working at Urbem TasteCard, a startup offering culinary recommendations as well as exclusive dining offers to VIP members. It operates as a platform on WeChat, one of China’s largest social media applications that integrates instant messaging, commerce and payment services.
Chloe Chai working at Chinese startup business Urbem TasteCard. Image: Bhodi Connolly
Chai said that learning in a fast-paced and passionate environment was a priceless opportunity.
“Chinese entrepreneurs are known to possess a pragmatic approach to their work ethics and seek to find the quickest route to success,” she said.
Alexander Bell, Lachlan Jensen, Ben Coughlin and Oskar Rafferty at the Caohejing Hi-Tech Park. Image: Nimrod Klayman
“The ability to watch a Chinese startup work in a market where consumers adopt new technology and services at extreme speed was valuable as these consumer behaviours are not typically found elsewhere.”
Chai said one of the biggest differences between the Australian and Chinese startup landscapes was the sheer size of the consumer market.
UQ Idea Hub Director Nimrod Klayman with China Mobility Program student entrepreneurs Jonathan Bester, Luis Ayoramarin, Isabelle Barrass and Michael Mersiades at the Caohejing Hi-Tech Park. Image: Nimrod Klayman
“Chinese entrepreneurs have to break through the noise and execute at an outstanding level to be considered as a player,” she said.
“People and companies in China not only move fast, but are also not afraid of embracing risk, something Australia can definitely learn from.”
Lachlan Jensen, Chloe Chai and Michael Fosyth in Shanghai. Image: Nimrod Klayman
Each UQ Idea Hub round is run over a period of six weeks. Teams of students, alumni and successful entrepreneurs form around ideas through a process of pitching and critique. They attend workshops covering topics such as research, pitching and storytelling, prototyping, market validation, and business models.
To learn more about the UQ Idea Hub Startup Adventures, visit ideahub.uq.edu.au.