China Backed Tech Incubator Launched in Ottawa
This is an interesting development; bodes well for Canadian-Chinese tech co-development.
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Partnership between Invest Ottawa and state-owned ZDG aims to help local tech startups enter Chinese market
Ottawa tech startups interested in entering the Chinese market have $10-million and Canada’s first China-backed tech incubation centre to help their efforts.
Invest Ottawa, the city’s economic development agency, and the state-owned Zhongguancun Development Group (ZDG) have partnered to open the ZDG Ottawa International Incubation Centre, the second such centre to open in North America, following a similar one in Silicon Valley last year. ZDG, created by Beijing’s municipal government and with $11-billion in assets, has committed an initial $10-million in funding.
The centre will be housed in a 1,600-square-foot space at Invest Ottawa’s headquarters and will help startups with funding of China-based research and development, marketing and office expansion, a release said.
– G & M