• Frequently Asked Questions

    Why China and Why XNode ScaleUp program?

     

    China is one of the fastest growing economies on the planet with strong industrial capabilities and a massive market. Read more here. However, with a fragmented business ecosystem and drastically different consumer behavior, businesses often need to undergo dramatic changes to their business and operating model to be successful. As a result, companies that lack the on-the-ground knowledge of the market consistently find it quite challenging when establishing a presence here. XNode ScaleUp program is designed to help entrants with limited business practice in China to be better equipped with the knowledge and network to find product market fit and running as fast as possible.

     

    What XNode ScaleUp Program provides?

     

    The two main takeaways from the 8-week immersive program will be:

     

    1. A CHINA-FOCUS BUSINESS PLAN that articulates the vision, opportunity, execution plan and required resources to go to market for your business.
    2. POTENTIAL PARTNERS Furthermore, due to the fact that scaleups typically have different goals they need to achieve during their first steps into the market, we have structured the program to allow participating teams to choose a path to focus on during the program: sales, investment or looking for a Chinese partner.

     

    Other perks include:

    • Full access to events joined or co-hosted by XNode
    • Connect with expert leaders in your respective industry
    • Full Business and Cultural Immersion in China
    • Brand Exposure through XNode's Marketing and Public channels
    • Get membership-only access to XNode's content, resources, and materials
    • Get connected to our wide reaching international and local network
    • Free office space in our central JingAn space for up to 2 people (additional members are available but will be charged).
    • Access to workshops and 1 - to - 1 mentoring and coaching by our experienced Entrepreneurs-In-Residence and program team

    Who Should Apply? What is the Selection Criteria?

     

    We’re looking for SCALEUPS, this is not a program for early stage startups. Good candidates for the program have the following characteristics:

    • Committed: China is a big commitment that should not be underestimated. In addition to the program costs, this program requires at least 1 founder for the duration. Remember, that this program is also likely just the start of a much longer journey.
    • Validated: You should have a quantifiable demonstration of product/market fit in your home market. If you’re pre-revenue this program is not designed for you. If you do fall into this category we suggest you participate in a local early-stage program in your home country. You can find a list of some of our partner accelerators globally here that we can recommend.
    • Funded: We do not operate a fund that invests in startups. This means you will need to have enough funding and runway for the program and beyond. Ideally, you will have raised a minimum of a Seed Round of financing and/or have >$500k annual revenue.
    • Market Relevance: Many businesses will not be a good fit for the Chinese market. Whether that’s a result of regulation, competition or other external factors, part of our process is to identify which businesses are strong enough to penetrate this market and which aren’t.

    What are the costs to participate?

     

    The program will be a fee-based 0% equity program. If you are interested in learning further details about the costs, please reach our team at startup@thexnode.com or submit an application here.

     

    Do I need to apply for a work visa for the program?

     

    No, it is unlikely that you can get a proper working (Z) visa at this stage. For now, a Business (M) Visa should be sufficient for the program duration. If selected to the program our team can help with visa’s including letters of invitation.

    Do I need to register my business in China before the program?

     

    No, in fact we don’t suggest you think too much about it until you’ve committed to the market for the long haul since the process can take as long as 3-6 months to complete. Additionally, there a few different options and approaches for accomplishing this that are relatively important for your business. As such, we’ll actually cover these questions in the early stages of the program to help make the best choice for your unique business situationgraph text here.

    Does a founder have to be in Shanghai throughout the whole duration of the program?

     

    Yes, for the most part. Due to the pace and intensity of the program major strategic decisions may need to be made quite quickly. This requires someone with a certain degree of autonomy to be on the ground for the program to achieve the desired results. There is a bit more flexibility with scheduling towards the latter half of the program but generally speaking you will need to be committed for the majority of the time.

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