May 19, 2020

Australian SMEs to benefit from largest-ever trade fair in China

China
Australia SME
Trade Fair
Bizclik Editor
2 min
Australian SMEs to benefit from largest-ever trade fair in China

Australia will be guest of honour and CISMEF 2010 co-host, with a 10,000 square metre Pavilion to promote a wide range of SMEs and industry sectors.

One of the biggest trade fairs in the world, CISMEF attracted 3,935 exhibitors and 254,600 visitors from China and overseas in 2009, with deals totalling A$20.6 billion.

Austrade’s Guangzhou-based Senior Trade Commissioner Jeff Turner said the event offered an excellent opportunity to connect Australian SMEs to opportunities in Australia’s largest and fastest growing export market.

“Last year exports to China grew by 30.7% to reach $42.3 billion. It is quite possible that two way trade, which now stands at around A$86 billion, could reach A$100 billion this year.

“It’s not just resources that are in demand, more and more SMEs are benefiting from the opportunities China’s growth presents. Around 4,500 Australian companies, many of them small, are already active in China.

“With GDP growth expected to remain strong in 2010, and Goldman Sachs recently predicting the Chinese middle class will reach 70% of China’s 1.3 billion population by 2020, consumer demand will continue to grow and diversify, right across the country.

“Guangzhou is the third largest urban economy in China and a gateway to China’s rapidly growing western interior.

“Dedicated areas within the Pavilion will promote eight industry sectors: clean technology and green buildings, financial and business services, education and corporate training, creative industries, sport and leisure, consumer products, food and beverage, and wine.

“For businesses involved in green building and clean technologies the China-Australia Green Building and Eco-city Forum will also be held at CISMEF. “Around 200 senior Chinese officials in charge of urban planning and construction, environmental protection, water treatment, and energy saving, are expected to attend.

“The forum is also a platform to leverage possibilities arising from two memoranda of understanding Austrade entered into last year with the Wuhan and Changsha governments promoting greater collaboration in sustainable development.

“CISMEF will also provide each participant with an interpreter and one-on-one business matching services with Chinese companies,” Mr Turner said.

Austrade will hold a series of briefings around Australia to help SMEs understand the benefits of participation in Sydney (March 3-4); Adelaide (March 4); Melbourne (March 5 and 16); Darwin (March 8); Hobart (March 9); Perth (March 11-12).

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Jun 8, 2021

Timeline: India takes unicorn leap with six in five days

India
Unicorns
Startups
tech
Kate Birch
2 min
We chart an historic week in India’s startup tech industry, where from April 5-9 the country achieved six unicorns

We chart an historic week in India’s tech industry, where in just five days, between 5-9 April 2021, the country achieved six new unicorns, bringing India’s total to 10 in 2021 to date, an immense unicorn leap from just seven in 2020 and six in 2019.

April 5: Meesho

India’s first social commerce unicorn, Meesho raised US$300m from SoftBank, Facebook and Shunwei Capital, giving the Bangalore-based startup a US$2.1bn valuation, a threefold jump from its previous funding round in 2019. Founded in 2015 by two IIT-Delhi graduates, Meesho connects producers and resellers, helping small businesses sell through social media. It has 45m customers and has enabled 13m entrepreneurs to start their online businesses with no investment.

April 6: CRED

Founded just over two years ago, Bangalore-based credit card repayment app CRED raised US$215m from Falcon Edge Capital and Coatue, nearly trebling its valuation to US$2.2bn from its January US$80m round. Allowing customers to pay off their credit card debt while earning CRED coins which they cash in for rewards, CRED has grown rapidly during COVID-19, doubling its customer base to nearly 6 million in a year.

April 7: API Holdings / Groww

The first epharmacy startup to gain unicorn status, PharmEasy (API Holdings), which has digitised 60,000 brick and mortar pharmacies and 400 doctors across India, raised US$350m in a round led by Prosus Ventures. Founded by four former Flipkart employees as a way of making investing simple, investment platform Groww became India’s second-youngest fintech unicorn, raising US$83m in Series D funding led by Tiger Global, quadrupling its previous round in September.

April 8: ShareChat

New Delhi-grown social media startup ShareChat, founded in 2016 by Mohalla Tech raised US$502m from Lightspeed Ventures, Tiger Global, Twitter and Snap taking its raised total over six rounds to US$766m and pushing its valuation to US$2.1bn. The funding will be used to grow its user base and short video platform Moj, which launched in 2020 following TikTok’s ban in India. The regional language startup claims 280m users.

April 9: Gupshup

AI-led conversational message startup joined the unicorn club after raising US$100m from Tiger Global giving it a ten-fold valuation of US$1.4bn. The smart messaging platform, which has seen accelerated growth during the pandemic, was founded in Bangalore in 2005 by serial entrepreneur Beerud Sheth, whose online freelancing platform Elance is now listed. Gupshup’s API enables 100,000+ businesses to build messaging and conversation experiences across 30+ communication channels. 

 

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