Tuesday, August 14, 2018

Global Accelerator Exchange: Launchgarage Signs Agreement For The Inclusion Of Filipino Startups In China’s Greater Bay Area Initiative

Posted By: The Mail Man - Tuesday, August 14, 2018

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Launchgarage Innovation Hub recently launched the LG:GAX (Global Accelerator Exchange) Program which aims to bridge the gap between entrepreneurs and the global market by conducting year-round inbound and outbound accelerator programs with our local, regional and global partners. This program seeks to provide companies with the opportunity to connect with key industry players through the Launchgarage network, gain unique market insights from experts, obtain support for research and development, and the facilitation of deals/investments.

In line with the LG:GAX program is the partnership with Gungho Space, an incubator and service platform that is devoted to be the “Super Connector” for Hong Kong, Macau and overseas entrepreneurs with the  mainland market against the background of the Guangdong-Hong Kong-Macau Greater Bay Area and E-Cell, an Incubator in India focused on fostering and raising awareness in the region of Gujarat which is fostering the innovation and having multi-cultural connections with other incubators which help tech makers to increase the reach and have their products going global, Launchgarage has signed an agreement of collaboration with them to bring Filipino Tech Startups into the Global Market.

“This is an exciting development for the parties involved. We are fully on board for this initiative and our exclusive partnership with both Gungho Space, lead by Andy Yip who is one of the, if not most prominent Angel Investors in China and E-Cell, NIRMA’s Premiere Incubator in India. Our main objective is to support each other, to bring in opportunities for collaboration and to foster the startups within the network. For Launchgarage to be part of this alliance is something truly special indeed, and we can’t wait to kick off our programs in a few months’ time,” said Russ Malangen, GAX Program Manager, Launchgarage Innovation Hub.

As part of the Guangdong-Hong Kong-Macau International Incubator Alliance, Launchgarage portfolio startups will gain exclusive access to the China market which is now solely focused on the development of the Greater Bay Area, Asia’s answer to Silicon Valley. Outbound and inbound exchange programs will be facilitated among the three organizations and engage in constant discussions to help accelerate companies that are ready for expansion to other parts of the region as well. The goal of the partnership at the early stages is to kickstart the development of joint teams for innovation R&D and to foster project development in applicable areas where synergies are found.

No project in Asia has been as ambitious as the China government’s vision of developing the Greater Bay Area. The plan to transform the Pearl River Delta into a world-class mega city cluster includes neighboring countries in Hong Kong and Macau, which will serve as special administrative regions. A strategy has been conjured up to enhance the capital, talent flow, and connectivity within the Greater Bay Area and utilizes Hong Kong’s financial strength, and Macau’s advanced services, leading to a possible GDP which exceeds $4.62 trillion by the year 2020. The involvement of a Filipino entity in Launchgarage is an integral part of the equation to ensure their inclusion in this initiative. Its competent team of former and current serial entrepreneurs from the top down with exceptional track records will help propel Filipino startups moving forward and ensure that they do not miss out on the opportunities which this new titan market will bring forward.





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