Skip to content

Rubin Quach and ICDK Shanghai co-hosts EUD International Business College

24.05.2018  05:32

 ICDKRubinEUD

How do we attract more Danish entrepreneurs to China?
ICDK Shanghai has been pondering this question for some time. But rather than just ponder, we have also initiated a few projects to influence Danish start-ups and entrepreneurs to look towards Shanghai and China. The biggest project is obviously our collaboration with nHack, which has just on-boarded its second cohort of which three start-ups have been confirmed to be Danish. However, we are also working to expose young Danish students to the possibilities that Shanghai and the Chinese market offers. On 18 May 2018, ICDK Shanghai and Danish entrepreneur Rubin Quach therefore co-hosted a group of students from EUD International Business College.

Starting a business in China
The aim of the meeting was to de-mystify the process involved in starting a business in Shanghai. Rubin used his own experiences as a starting point; explaining how he came to China for the first time in 2011 (to learn Chinese) and then, a few years later, came back to work and eventually, in 2016, ended up staring his own company: 17Hi.

17Hi is a cocktail app that uses social elements to help users find the right bars – and even the right drinks. But, of course, it is the data of 17Hi that is really at the centre of the app. Hence, 17HI is collaborating with bars and liquor companies to help them develop new products and understand their end-users better, and thereby give 17Hi users the best possible experience.

From the app’s launch in late 2016, there has been both ups and downs, something Rubin was very honest about. For instance, it only took three weeks for the first Chinese copy to emerge. However, competition helped build the market and may not have been all bad. After only four months, Rubin’s investment in 17Hi was earned back.

First investment
Recently, 17Hi landed its first investment: 3 million RMB. This investment is being used to expand into major Chinese cities on the East coast but also further West and down South – all the way to Hong Kong. For Rubin, this is the main advantage of the Chinese market, i.e. once the app was established in one city, it is relatively easy to add new cities, new markets. Compared to Denmark, there are lots of cities to expand to in China.

Against this background, Rubin ended his presentation by encouraging the students to consider China as a possibility if they dream of starting their own business. Needless to say, this is a message that ICDK Shanghai can only support, and we hope to see more Danish students in Shanghai in the coming years – in study groups, as exchange students, interns and of course also in the form of fired-up entrepreneurs.

For more information about ICDK Shanghai's collaboration with nHack, please contact our Executive Director, Morten Brandtoft. If you are planning a visit to Shanghai with a group of students and are interested in a similar set-up, feel free to contact our Innovation Attaché, Martin Bech.