100 Rising Tech Stars in China 2020
Every small sapling has the chance of growing into a towering tree.
On December 9-11, 2020, EqualOcean will host this year's World Innovators Meet (WIM). WIM2020 will take on a bolder stance and adopt a more global outlook by taking the form of an online conference that will be streamed simultaneously in all countries and regions that champion the realm of technology and innovation.
During the World Innovators Meet, the WIM Committee will release the annual blockbuster WIA list, the World Innovation Awards, based on our annual industry and investment research findings, together with a series of research reports.
► Driven by the pandemic, healthcare, the evergreen industry experienced a new highlight year in 2020, with the birth of around 20% of the current batch of 'tech stars' happening against a tumultuous background.
► COVID-19 has accelerated companies' adoption of remote work. Working from home has quickly become a 'new normal.' Throughout the year, VCs kept adding enterprise services names to their portfolio lists.
► Tech tensions between the US and China have forced the latter to establish and develop its own chips for phones. Beijing's call for 'new manufacturing' signals that makers of physical products and hardware will be the capital's new darlings – a move redolent of the old-school manufacturing basis of the nation’s wealth creation from the 70s onwards.
► E-commerce and local life services are trying to break out of the boundaries set by Internet giants.
The development of society requires the promotion of technology, and the maturity of a given industry also requires the continuous injection of fresh blood. The emerging star companies play this role, breaking the existing mature competition patterns in the industry and launching technologies that both transform and benefit society.
As early-stage innovative startups, those companies in the A round or so have passed the most difficult entrepreneurial stage, and their business models and products should be relatively mature. Although they may well be working at a loss, companies with a certain position and reputation can become future unicorns. EqualOcean has prepared the Rising Tech Star 100 list comprised of the names of leading companies scattering mainly across healthcare, enterprise services, manufacturing and e-commerce.
Healthcare: a crowded market enflamed by COVID-19
20% of the selected companies are in pharmaceutical research, of which 40% were founded in 2020. The epidemic places higher requirements on the medical service system's resilience, service capabilities and creativity, presenting new opportunities and challenges to the medical and health industry. With the state's support for reforming the sector using technologies, CRO software applications and Internet clinics, they expect massive growth potential ahead.
Enterprise services are ushering in new development trends in the post-epidemic era
As companies continue to improve their internal work efficiency requirements, the software industry is becoming a significant driving force for developing the digital economy and allowing a smarter society to emerge. Various SaaS software vendors, such as Sunyur, have evolved one after another. Cloud computing has brought enormous opportunities for companies, and investment and financing in the corresponding fields have also been extremely active. Through the combination of smart hardware, SaaS and big data, and with the help of artificial intelligence technology, clients and consumers will see all sorts of readily available convenience in future.
The epidemic has also accelerated the outbreak of the enterprise service market, such as remote office and marketing technical e-commerce services. More innovative enterprise services will receive the attention and favor of capital and the market.
Manufacturing is also having its moment
Unresolved trade tensions have prompted the United States to strengthen its controls on exports of chips and other vital technologies. With the continuous strengthening of the US ban on Huawei and high-end technology has been controlled by foreign manufacturers, self-developed high technology is imminent.
15% of the companies belong to the manufacturing industry, including satellite manufacturing, chip research and development and integrated circuits. These new forces may inject immense energy into China's high-tech industry in the future.
New retail spawns e-commerce platforms
In the context of the digital age and new retail, e-commerce and local life service companies continue to rise. And in 2020, affected by the epidemic, users' shopping behavior will further shift from offline to online. Although the e-commerce industry is now where Alibaba, JD.com, and Pinduoduo stand together, it will not be the second Taobao that defeats Taobao. This is also one of the reasons for the rise of Pinduoduo. Therefore, these rising stars are very likely to disrupt the industry structure with their innovative capabilities.
Simultaneously, community fresh food e-commerce is also growing, as many users have gradually formed new shopping habits around 'home delivery.' The monthly active users and new users of platforms such as JD Daojia, Fresh Hema, and Dingdong Maicai continued to grow. Given that the fresh food industry has not completely solved its profitability problems, Xiaotumaicai – a fresh food platform that has just completed an A round of financing led by Country Garden – has announced that most of its stores have been profitable, indicating that the new forces in the market should not be underestimated.
In addition to the industries mentioned above, companies have also been selected in automobile transportation, finance, and education. Any company in any industry may become the next unicorn.
Hosted by EqualOcean, the World Innovators Meet (WIM) is a world-class event for innovators. It provides limitless opportunities to learn from and connect with the most sought-after technology pioneers.
The World Innovation Awards (WIA) are announced at WIM to recognize game-changers across various industries and geographies. Selected by a committee of distinguished experts, entrepreneurs and investors, WIA are designed to acknowledge technology disruptors striving to make a positive impact.
Register for the event
We sincerely welcome you to join WIM2020 on December 9-11, 2020.
Click here to register and you will receive:
[Global Trends] Key insights from 11 Industry and Overseas Chapters made available to you for all three days of WIM2020.
[Insightful Conversation] Connect with 120 top-notch global speakers, listen to their perspectives and interact with them online.
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Join the WIM2020 family and become a member of the World Innovation Community, participating in a technology and innovation carnival that connects the world right at your doorstep, all while drawing a special end to the extraordinary 2020!
If you would like to become/recommend a speaker, discuss cooperation opportunities or media partnerships, apply for the World Innovators Awards or to be a volunteer, please click here to fill in the WIM2020 Cooperation Form (we recommend you to do so on a computer). We will be in touch as soon as possible. Thank you and welcome!
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