China’s emergence has had an extraordinary influence on the global economy. Its rise as an economic powerhouse has had a profound impact on its entrepreneurship scene with other countries seeking to emulate China’s success. 

China’s innovation ecosystem has grown exponentially, and it’s approach to technology embraces agility and rapid iteration. The country’s fast-paced evolution necessitates constant adaptation, nurturing resilience and creative problem-solving, and these are crucial traits for any entrepreneur.

China’s dominance in emerging technologies like e-commerce, fintech, and artificial intelligence provides invaluable insights into the future trajectory of global business. Observing how these technologies have seamlessly integrated into daily life showcases the potential transformative power of innovation.

Today, China ranks as the world’s second largest producer of “unicorns” – which have disrupted traditional business models through innovation and creativity, according to the Global Unicorn Index 2023. The developments of the Belt and Road initiative, the internationalisation of the Renminbi (RMB), the Digital Economy, and the massive outflow of capital from Chinese companies in search of overseas markets offer new opportunities in these key growth areas.

Singapore Valley Awards offers a valuable opportunity to be exposed to China’s thriving business community. The SVA internship programme allows undergraduates to gain valuable experience from a vibrant startup ecosystem and assimilate cohesively with one of the largest global markets. The exposure to overseas businesses and communities would be highly beneficial for gaining insight into different business environments, and acquire overseas business knowledge and cross-cultural communication skills.

“Why not set up an Award that we can send students, entrepreneurial ones, curious about the world, send them for industry attachment and internship in China. See for themselves how fast moving China is, how progressive China cities have become, how much they have embraced technology, how much they have break the mould in growing their economy. From there, learn about their country, learn about how business is done, learn about networks, make friends, build networks, and I think that is an experience that will be very valuable to our students.”

– Mr Ong Ye Kung, ex-Singapore Minister of Education at the launch of Singapore Valley Awards in 2017

“We had to go through an extensive interview where we pitched the business idea to a panel of impressive judges from China… It was such an amazing experience for me during this whole process. China is indeed the innovation hub in Asia and it would be such a great opportunity to know more China and the entrepreneurial scene there.”

- Zeke Soh, National University of Singapore, intern at Qunar

“It was because of SVA that I got a chance to do an internship at Alibaba at Hangzhou, during which I got a lot of exposure to what goes on in big tech in China, to how startups scale really fast to get a more regional perspective about tech companies, and that drove me to launch my own company in Vietnam, which eventually got VC funded.”

-  Kevin Toh, Singapore Management University, intern at Alibaba Group