Posted: June 18, 2018
Launching the TEC Edmonton-TusStar Accelerator Exchange and the new TusStar Alberta branch
Edmonton, AB, Canada (June 11, 2018) – There is now an easier way for Canadian companies to transition into the Chinese market. The TEC Edmonton-TusStar Accelerator Exchange provides programming for technology-based companies to do business in Canada and China. The TEC Edmonton-TusStar Accelerator Exchange also serves as the inaugural program of TusStar’s Alberta branch.
“It’s no secret that in order to grow and scale, Alberta companies must go global,” says Chris Lumb, CEO, TEC Edmonton. “As with entering any new market, there are challenges. This program will make it easier for companies entering into China by breaking down cultural barriers which can hinder companies’ success.”
“Globalization is an important development drive for both companies and countries,” says Jinsheng Zhang, Vice President of Tus-holdings and Chairman of TusStar. “That’s why TusStar is building a global innovation and incubation network. TusStar Alberta plays a key role in connecting the Canadian and Chinese markets. This is possible because both organizations have strong backgrounds, professional incubation experience and profound resources. It’s because there are many excellent innovative start-ups and enthusiastic entrepreneurs in Canada, we are looking forward to working with our strong partner, TEC Edmonton, to support these great companies.”
The TEC Edmonton – TusStar Accelerator Exchange, a six-month program with residency in both countries, provides training and support to break down business and cultural barriers such as language, intellectual property policies, regulatory concerns and differences in business etiquette. Technology-based companies and entrepreneurs can apply to the inaugural program and receive:
- Assistance, education and strategic business support in accessing the Canadian/Chinese markets
- Interaction with like-minded entrepreneurs and innovators looking to expand globally
- Access to TEC Edmonton’s and TusStar’s large network of partners
Companies already enrolled in the program include ClickDishes, Direct-C, Juniper and VADU – all technology-based businesses in Edmonton. For program information and eligibility information, visit: TECEdmonton.com/Entrepreneur-Development/TEC-TusStar.
About TEC Edmonton
TEC Edmonton is a business accelerator that helps emerging technology companies grow successfully. As a joint venture of the University of Alberta and Edmonton Economic Development Corporation, TEC Edmonton operates the Edmonton region’s largest accelerator for early-stage technology companies and manages commercialization of University of Alberta technologies.
Since 2011, TEC clients have generated $1,021M in revenue, raised $502M in financing and funding, invested 275M in R&D, and grown both revenue and employment by 26 per cent per year and now employ over 2,228 people in the region. TEC has assisted in the creation of 37 spin-off companies from the University of Alberta in the last six years.
TEC Edmonton was named the 3rd best University Business Accelerator in the world by the University Business Incubator (UBI) Global Index in 2018. For more information, visit TECEdmonton.com.
Established in 1999, TusStar is one of the oldest and most successful Chinese technology incubators. TusStar is owned by Tsinghua University. Located in Beijing, Tsinghua is China’s largest, highest ranked University, with over 46,000 students, and influential alumni like the current Chinese President Xi Jinping.
By the end of 2017, TusStar has more than 120 incubators in more than 60 cities across China as well as a growing network worldwide. Tus-Holdings currently manages assets worth more than C$70 billion.
The University of Alberta’s relationship with Chinese education powerhouse Tsinghua University helped establish the collaborative partnership between their respective innovation incubators, TusStar and TEC Edmonton to develop new market opportunities for entrepreneurs from both countries. As part of this partnership, TusStar will offer business advice on China market access, legal and regulatory issues as well as identifying companies for investment opportunities. For more information, visit TusStar-en.com.