Businessmen can learn how to do business in China at a seminar tomorrow night at New Jersey Institute Technology (NJIT). Hosted by NJIT’s School of Management, Office of Technology Development and the Enterprise Development Center (EDC), the keynote speaker will be Savio Chan, the head of US China Partners, who will discuss manufacturing products, timing market entry, risks and more.
The event will take place 5-8 p.m. in NJIT’s Main Ballroom on the second floor of the NJIT campus center. The center is located near the intersection of Central Ave. and Martin Luther King Blvd. The event is a fund-raiser for NJIT. (Note to Editor: Contact Sheryl Weinstein at 973-596-3436 to attend.)
Chan is experienced in international business development, product sourcing, licensing, startups and government relations. Chan said that foreign business investment in China topped $60.billion in 2004 up 13 percent since 2003. China is the leading destination for overseas capital, surpassing the United States, Chan added.
In March 2004, China amended its constitution to allow broader property rights. Beijing will host the Olympics in 2008 and Shanghai will host the World Expo in 2010. Both events offer tremendous business opportunities to US companies, Chan said. China is now the fourth-largest trading partner of the US.
Also available will be a discussion about entrepreneurship. Presenters include leaders of 11 start-up companies. Some of them, based at EDC, continue to do business not only with China but in the Southeast. The entrepreneurs will discuss how they have commercialized their innovation with limited resources.
In a casual setting, the entrepreneurs will share how they did it, including overcoming start-up anxiety, fund-raising, stretching limited resources, preparing an effective business plan, and weathering the rough times.
Representatives of NJIT’s EDC program will showcase how a business incubation program, affiliated with a major university, can accelerate and make possible the development of commercialized products/services and more. Jim Gunton of NJTC will meet with pre-qualified entrepreneurs looking for start-up investor capital. NJTC seeks to identify and finance entrepreneurs with novel business ideas.