More foreigners are coming to China to start up companies, hoping to get a slice of China's massive market. We visited a young start-up team in Beijing that aims to make air purifiers more accessible to Chinese people.
The world's second largest economy is suffering from many pressing issues. One of them is serious air pollution.
The government has pledged to solve the problem by transforming the economic structure and boosting the growth of cleaner industries. But it's not going to happen overnight. And that means there's a huge market for products like masks and air purifiers.
And these young top minds from different countries hope to create a product that stands out from the rest.
"Currently, there's a lack of well thought-through products in this market. We want to solve here an actual problem," said Pierre Yanhe Bi, CEO of Aeris Cleantec AG.
Pierre first had the idea to create an air purifier when he came to Beijing for a language course three years ago. The city was choking in its worst air pollution in history.
With an engineering background, he developed monitoring devices to get a clearer picture of how polluted the air was.
And then, one thing led to another... after he finished his Master's degree at M-I-T, he decided to come back to Beijing to start his own company.
"We came here to understand better who are our end customer? How people live in here? What are the trends? So we can also be part of the system," Bi said.
The system, Pierre says, is the innovative environment here in China.
"We find it very interesting to come to Beijing to be part of the very thriving entrepreneur culture, which I think is tremendously changing. We see a lot of positive trends that might bring the Chinese entrepreneurial community to the forefront, to be on par with the silicon valley. There are little seeds that I've seen so far planted. For example, the incentivization from the government for entrepreneurship has evoked certain people to build companies that innovate. And I want to be part of it," Bi said.
The team combines members from Switzerland, Germany, France, the US and China. They say that coming together produces an interesting chemistry.
"We believe that by mixing it up, having 50% locals and 50% internationals, gives up much more opportunities. We see that in simple group work, where we have so different views on product and design. And this is incredible, that is something I would not see when I stay back in Switzerland., when I have a fully Swiss team working on a product. We can not push it as fast and as innovative as we do here," Bi said.
Innovation requires a quick response to a rapidly changing market. The team benefits from China's experience as the world's leading manufacturer.
"There's like a tons of things that we can do so much faster here. In a couple of days, you can have a prototype. On Friday you can have a product you drew on Monday," said Etienne Bougeot, lead designer of Aeris Cleantec AG.
The team is growing fast in Beijing. And they are aiming at other emerging markets like Mexico.