Forbes - ADG Managing Director David Sullivan and other US tech executives who are doing business in China revealed the key issues they face in China today in the more challenging climate today for penetrating the Chinese market -- and winning.
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Forbes - When it comes to Google, the commercial benefits remain to be seen. For now, the AI center in Beijing is more about collecting data, which is plentiful in the world’s most populous country and critical to the training of smart machines, says Chris DeAngelis, general manager of Beijing-based consultancy Alliance Development Group.
Forbes - “They [Chinese authorities] are trying to make it harder for people,” said Chris DeAngelis, general manager at consultancy Alliance Development Group, “but to fully stop it is very hard."
Forbes - EyeVerify started early in China, when the company only had eight employees. The company led by founder and CEO Toby Rush, inked several deals with tier one smartphone OEMS, drew investment from China’s Qihoo 360, did a cooperation agreement with Alibaba and Alipay, and then got acquired, tells David Sullivan, Silicon Valley-based managing director of Alliance Development Group, which advised EyeVerify.
Forbes - The final versions are likely to be moderated, as authorities and companies continue to negotiate rules acceptable to both sides, says Chris DeAngelis, general manager of consultancy Alliance Development Group, which helps western companies expand in China.
“I see this as more of a reminder to the industry that they are being monitored closely and they should continue to develop along the lines outlined in the draft regulations or their lives could become more difficult,” DeAngelis said.
Forbes - Having business contacts on what is supposed to be a personal app like WeChat is just one way to build relationships in the country, says Chris DeAngelis, general manager at consultancy Alliance Development Group, which helps western technology companies expand in China.
Forbes - EyeVerify’s CEO Toby Rush says he got an introduction to Qihoo 360 through China business development pro David Sullivan and his team at Alliance Development Group. Rush credits Sullivan for helping him to get comfortable with an investor from China. “It’s a different world, with different expectations,” says Rush. Another hesitation was how the deal with Qihoo could impact “where we go in China in the future” with potential other partners.
Forbes - The surge is due at least in part to government design. Beginning in 2006-2007, both Beijing and local governments took a series of steps intended to cultivate a domestic PE industry. The idea, argues Chris DeAngelis, a Beijing-based principal at Alliance Development Group, was to keep the entire process within China–everything from raising funds from Chinese individuals to investing in Chinese companies and eventually listing on Chinese markets.