IE University launches IE China Center to boost economic and business research in China
Center publishes its first report, a comparison of entrepreneurial profiles in China and Europe.
IE University today launched the IE China Center, an initiative to deepen its academic research in Mainland China, Taiwan, Hong Kong, Macao and other Chinese-speaking regions. The event took place in Madrid within the framework of South Summit 2019, the leading innovation platform focused on business opportunities that brings together the main actors of the global entrepreneurial ecosystem.
To mark its launch, the IE China Center presented Entrepreneurship in Europe vs. China: a Comparison, overseen by Dr. Bin Ma of IE University, Academic Director of the center, a report that analyzes the similarities and differences between entrepreneurs in China and Europe.
Among the report’s main conclusions, Dr. Bin points out that 57% of new European companies focus on traditional sectors and industries, while 55% of Chinese start-ups are oriented to the Internet, compared to 36% of European companies. 10% of Chinese companies focus on new materials and 6% of European companies on new energy sources. In terms of capital, 75% of new businesses in China are funded by private equity, compared to 57% in Europe.
Furthermore, 82% of Chinese entrepreneurs have a masters or doctorate, compared to 67% of Europeans. European entrepreneurs are aged39 years on average, compared to the 42.6 years of their Chinese counterparts. Europeans have 2.97 years of international professional experience, compared to 1.28 years of Chinese entrepreneurs. Moreover, in terms of gender, 25% of Chinese entrepreneurs are female, compared to 18% in Europe.
The China Center’s work is focused on analyzing the market and investment challenges and opportunities in China, an economic and business powerhouse that has become a benchmark for technological innovation and development of new business models. The IE Foundation supports the strategy of IE University in China through scholarships, applied research and social innovation programs.
Among the IE China Center’s objectives are:
- Showcase China’s best practices and new business models.
- Generate joint applied research with the main academic and business actors in China.
- Facilitate personal and professional relationships between China and the business and academic communities of Europe.
- Promote the presence of Chinese entrepreneurs in IE University projects and share them among the institution’s global community.
- Hold conferences and events.
“This first report contributes to the analysis of entrepreneurship, one of the pillars of the global economy.”
“The IE China Center helps to understand the new dynamics of the world economy and how they can be approached from the point of view of teaching management skills – IE University’s main vocation – through reports, case studies and organizing events in China,” says the Chair of the IE China Center, Felix Valdivieso, concluding: “This first report contributes to the analysis of entrepreneurship, one of the pillars of the global economy.”
IE has strong ties to China, enabling it to promote business innovation and entrepreneurship through knowledge generation, research and technology. Some 50 new students from different regions of China study at IE every year. We are active in more than 40 cities throughout the country, with regional offices in Beijing and Shanghai so as to maintain close contact with our alumni and future students, and we also work on a range of programs with more than 10 Chinese universities. In addition, IE partners with private, public and non-profit Chinese organizations to educate and provide the next generation of world leaders with the skills they need.