MADRID, March 10 (Xinhua) -- The Xiji Incubator, a Spanish business incubator in China, is helping Spanish tech startups expand internationally by providing support and resources in Shanghai, China, said Xavier Ferre, Rector's Delegate for Asia-Pacific at the Polytechnic University of Madrid (UPM) and Chairman of the Xiji Incubator, in an interview with Xinhua on Monday.
Established in 2018 as an incubator for technological start-ups, particularly in green technology, the Xiji Incubator provides young entrepreneurs with the opportunity to develop their business ideas at Tongji University in Shanghai. The UPM has maintained a presence there alongside the Polytechnic University of Catalonia since 2012.
"The incubator is a natural extension of our strong business program in Spain, enabling entrepreneurs to develop their ideas in China, one of the world's leading emerging markets, and gain a global perspective to compete at an international level," said Ferre.
According to Ferre, the UPM's extensive experience in building business relationships in China allows it to better support students and entrepreneurs. "This year, we have opened the program to participants from other partner universities of the Sino-Spanish Campus," he added.
He also highlighted Shanghai's "dynamic innovation ecosystem," which facilitates connections with key industry players, including investors, potential partners, suppliers, and manufacturers.
The Xiji Incubator offers a unique experience among Spanish universities, providing students with training that covers everything from the ideation stage to business validation, financial planning, legal considerations, international expansion, and navigating the Chinese market.
To participate in the program, the UPM offers a four-month scholarship that includes 3,000 euros (3,247 U.S. dollars) in funding to help cover costs. It is available to final-year undergraduate students and master's students with a viable business idea.
Beyond supporting startups and spin-offs from UPM, Ferre noted that the incubator has expanded this year to include entrepreneurs from other partner institutions and is looking to further open its doors to participants from Spain and Latin America.
Ferre cited several successful innovations developed at the Xiji Incubator, including an urban electric bicycle-sharing initiative, biodegradable material-based containers, and an AI-powered water management system utilizing sensors.
"Now is a particularly favorable time for Spain-China collaboration in innovation. There are many opportunities of mutual interest, especially in the field of green technologies," Ferre concluded.
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