aescuvest: cooperation with Touwho
aescuvest, based in Frankfurt/Main, is the first European crowdinvesting platform to specialise in the highly innovative healthcare market. Following the company's positive development in Germany up to now, aescuvest intends to approach entrepreneurs as well as investors in new target regions. For a start, there is the important deal with a Chinese partner - together with the Medical Valley in the metropolitain Nuremburg area, aescuvest signed a memorandum of understanding with the Shenzhen Touwho Network & Fund company. Touwho is China's largest crowdfunding platform in medicine and biotechnology.
The benefits of the partnership are obvious for aescuvest's managing director, Dr. Patrick Pfeffer, "Start-ups and entrepreneurs who want to receive capital to develop their products further will also receive support in entering the Chinese market, if they like." Many start-ups are trying to achieve this goal since China as a strong growth economy in the healthcare sector is currently viewed as an attractive target market. At the same time, there are many things to consider before a market entry there can be successful, "Starting with good legal and business advice, there are many practices and customs that an entrepreneur must know and observe. A local partner on site can enormously facilitate the set-up development work."
Taking advantage of investment opportunities in both countries
In case entrepreneurs decide on financing through aescuvest, they will have the future option of also placing their projects on Touwho, the Chinese platform, and to attract capital from Chinese investors. Product awareness in China, an important preliminary requirement for long-term success, has thus already been fulfilled. The partnership also works the other way around: aescuvest will offer Chinese entrepreneurs the opportunity to present their products and business ideas from the healthcare area on aescuvest.de thereby addressing European investors.
The Medical Valley consisting of an association of players from business, the sciences, healthcare providers and politics also co-signed the memorandum. The Medical Valley has already started a project in China designed to facilitate market entry for German medical technology companies in this growing market. Jörg Trinkwalter, a member of the executive board at Medical Valley, is very pleased about the future close collaboration with the Chinese partners, "Signing the mutual memorandum of understanding is an important step and a clear signal to the German medical technology sector. The relevance of the Asian market has increased from year to year. This cooperation allows us to support companies that want to apply this development to expanding their businesses and to provide start-up aid.
This is not a clearance sale on German technologies
"We have agreed to a common approach that prevents the much discussed clearance sale of German technologies. The goal is to offer European companies a second leg to stand on in the attractive Chinese market and, conversely, to also connect Chinese entrepreneurs with German investors," according to Dr. Patrick Pfeffer after signing the memorandum of understanding. The representatives of the participating companies in Germany and China met in Shenzhen, Guangdong Province, in mid May. On the occasion of creating the joint partnership, the new International Co-Innovation Center for Advanced Medical Technology (ICCAMT) was inaugurated at the same time.