Page 48 - Arts Management Magazine Future Issue

China’s Insatiable Appetite for Innovation

“In a bid to become a true innovation economy, China has built an ecosystem to rival
Silicon Valley, attracting the world’s best and brightest to develop their business here.”
– Benjamin Speyer

Benjamin Speyer, CEO of Serica Consulting and the President of the Hangzhou International En-
trepreneurs Association, led AMM through some of the juicy opportunities appearing for businesses
as the government in Hangzhou, a city on the eastern seaboard of China, rolls out ambitious plans
to catch up to Silicon Valley.

AMM: In 2016, China hosted the G20 summit for the first time ever and chose to hold the event
in Hangzhou. Despite having the international spotlight then, Hangzhou is still not well-known to
most people abroad. What has been taking place since then?
Benjamin Speyer: Hangzhou was chosen for the G20 because it represents what the future of China
looks like: an ancient city with rich culture and traditions while also being a modern cosmopolitan
city that embraces the future. The government wants Hangzhou to become the world’s leading
high-tech capital. Having studied Silicon Valley’s model closely, they have replicated their own ver-
sion – with Chinese characteristics – in a bid to achieve this goal. Through a combination of na-
tional, provincial and city level funding, policies and initiatives, research and development led by
Zhejiang University and private investment from the likes of Alibaba, Geely and NetEase, they have
the foundations set to achieve this goal. You can see this development, in the Chinese style, through
what they call “economic corridors.”

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