As president of the Nepal Entrepreneurs Society and a young entrepreneur himself, Khagendra Acharya has been dedicated to seeking business opportunities for aspiring entrepreneurs worldwide.

In September, during his fifth visit to China, Acharya had the opportunity to meet with entrepreneurs and other representatives from the business sector from 29 countries and regions, and discuss ways to expand cooperation and create a sound business environment for young entrepreneurs from around the world.

Some 200 young entrepreneurs from all over the world engaged in discussions and business negotiations during their gathering in the coastal city of Zhongshan in Guangdong Province, south China, from September 24 to 26, on the occasion of the First Plenary Session of the International Alliance of Young Entrepreneur Associations (IAYEA) and the International Young Entrepreneurs' Economic and Trade Exchange Event.

The IAYEA is a platform for promoting youth entrepreneurship, as well as exchange and cooperation among young entrepreneurs organizations from different countries. It was initiated by China International Youth Exchange Center (CIYEC) and established in Beijing in mid-April.

Zhang Hua, Director of the CIYEC, said the global economic downturn places an undeniable responsibility on young entrepreneurs to boost confidence and drive economic recovery.

In addition, as the world economy experiences important shifts, it is imperative to ensure the stability and security of global industrial and supply chains.

This necessity, Zhang said, demands unparalleled cooperation among young entrepreneurs from different countries. The IAYEA serves as a platform to facilitate such collaboration, enabling businesspersons to work together to maintain the stability and openness of the world economy.

"We young entrepreneurs represent unlimited potential and are full of ideas that may change the world," Acharya told Beijing Review. "This event serves as a perfect platform to share these views with counterparts worldwide and build a global network."

Global vision

In 2017, Acharya founded the Global Entrepreneurship Bootcamp, a program that hosts educational and leadership sessions designed to help entrepreneurs and prospective entrepreneurs gain the necessary skills to follow their passions and create and fund growth-oriented careers. It has incubated more than 150 startups and influenced "bootcampers" from more than 100 countries. As chairman of the bootcamp, Acharya knows all too well not just what young entrepreneurs need and the challenges they face, but also the role they can play in the world.

"Youth and entrepreneurship will be at the forefront of future cooperation efforts, driving innovation and sustainable development. The young minds of today hold the keys to unlocking a brighter tomorrow," he added.

Acharya added that cooperation provides entrepreneurs with access to a diverse talent pool as well as more resources and markets, reducing entry barriers and enhancing competitiveness. "Collaboration among governments, startups, investors and support organizations boosts access to funding and mentorship, which is crucial for scaling businesses," he explained.

Azul Pereda, a representative of the Argentina National Union of Young Entrepreneurs (UNAJE), believes young businesspersons are leading the adoption of emerging technologies such as artificial intelligence, automation and other digital technologies. "This not only boosts productivity and competitiveness in modern economies but also generates new opportunities for global trade and economic cooperation," she said.

"To make cooperation happen, we need to build alliances," Pereda added. "International alliances, such as the IAYEA, provide a conducive environment for fostering conversations in an increasingly interconnected world."

The UNAJE is an organization that accompanies young Argentine entrepreneurs from all industries on their journey to learn from, connect with and support each other to improve their companies' management. It currently comprises more than 400 business-minded youth from the Latin American country.

As the organization's only representative based in China, Pereda is expanding the connection between the two distant countries.

Pereda further revealed that nearly 50 percent of Argentine youth-led companies within UNAJE have some form of international market engagement. "What seemed distant to previous generations, these new generations with their global ideas and businesses see as natural," she told Beijing Review.

"Another advantage of the younger generations is that many of them are multilingual and have lived overseas, and so they know about local cultures and customs and encounter fewer barriers when communicating with international partners," said Deng Guanbiao, President of the Zhongshan Young Entrepreneurs Association and Vice President of leading Chinese tissue and toilet paper brand C&S Paper Co. Ltd.

Ongoing efforts

Headquartered in Beijing, the IAYEA is a nongovernmental and nonprofit international platform founded by young entrepreneurs organizations and youth-led innovation and entrepreneurship groups. Its vision is to promote the mutually beneficial development of young entrepreneurs and entrepreneurial youth from different countries, aid in the sustainable development of the global economy, and contribute to an open world economy. "Forming an alliance of young entrepreneurs will foster better cooperation between China and other countries, and among countries all around the world," Rommel Gerodias, Chairman Emeritus of the Philippine Young Entrepreneurs Association, said. "It also gave us an opportunity to bring (our) business not only to China, but also to other parts of the world. For example, at the event, we were speaking with businesspeople from Montenegro and Mongolia and found out that we have complementary needs. So this alliance is starting to work."

"Sometimes people only need a chance to build connections. Some people are looking for a project to invest in. Others may have an idea, but don't really know how to execute it. This IAYEA event is providing many opportunities for people to interact, exchange ideas about what they are doing and see if they can cooperate," representative of the Indonesia Young Entrepreneurs Association Garry Joel Lamiran said.

"China has shifted into sustainable energy development, such as that of biomass (organic matter used as fuel). It also has a lot of related technologies that it can share with developing countries," Lamiran said.

Abhishek Kumar, President of the Entrepreneurs Association of India, said Indian and Chinese startups have already formed collaborations in areas such as e-commerce, fintech and artificial intelligence. "We have seen several startups in fintech, medical equipment and hardware raising funds from investors in China or taking input materials and selling these across India and the world at large," he added. "The potential for synergistic innovation between India and China is immense."

Despite the foreseeable and promising business cooperation, many representatives also mentioned aspects they need to be aware of when venturing into another country.

"While Sino-Hungarian cooperation has achieved remarkable successes, challenges remain. Differences in culture, language and regulatory frameworks can sometimes pose hurdles," Vice President of the Hungarian Entrepreneur Development Association Gabor Lehoczki said. "However, these challenges in turn present opportunities for mutual learning and growth. Effective communication, cultural exchange programs and regulatory harmonization efforts can help bridge these gaps."

Deng believes that in addition to language and culture, entrepreneurs must learn about local laws and respect the local rules of the game. "To certain extent, my behavior in another country also represents the image of my [home] country. We must abide by local regulations and laws," he added.

Tapping potential

During their visit to Zhongshan, Abhishek Kumar and two Indian entrepreneurs visited mostly textile companies to research the local market. Intrigued by the low-cost fabric and unique knitting technologies applied in the sector, they decided to explore the area's collaboration potential.

The textile and garment business is one of the main industries in Zhongshan, with a complete industrial chain including garment equipment manufacturing, textile printing and dyeing, and garment production. Its many garment brands enjoy domestic popularity and are also exported to many countries in Southeast Asia, Europe and the Americas.

Manoj Kumar, Director of Citiskape Sports in the Indian capital of New Delhi, was a first-time visitor to China. "I'm impressed by the hospitality of the Chinese people and the country's organized urban development. I'm going to learn more about the country and business here, and look forward to future cooperation," he said, adding that he was specifically looking for advanced technology companies that can help his company develop hi-tech sports facilities.

Similarly, Udyan Singh, Director of large Indian manufacturer of designer saris and silk fabric Banka Silk Private Ltd., obtained some tangible results from his first trip to China. During a signing ceremony at the International Young Entrepreneurs' Economic and Trade Exchange Conference, he signed a letter of intent for cooperation with Zhongshan business counterpart Tungtex Silk Garments after concluding the two companies had complementary needs. Entrepreneurs from Myanmar and the African continent also signed such letters with Zhongshan companies.

In addition to the textile and clothing industry, Zhongshan has also developed industrial clusters in terms of home appliances, biomedicine and healthcare, hardware products, marine engineering, food, furniture and elevators. The city's GDP in 2022 exceeded 363 billion yuan ($49 billion), with its total import and export value reaching almost 280 billion yuan ($38 billion) and the number of foreign-invested enterprises topping 4,500.

Zhongshan also enjoys unique locational advantages, as it is situated at the center of the Guangdong-Hong Kong-Macao Greater Bay Area. From Zhongshan, travelers can reach any of the five international airports in Hong Kong and Macao special administrative regions, Guangdong's Guangzhou, Shenzhen and Zhuhai cities within an hour. The Shenzhen-Zhongshan Bridge is currently under construction and upon its completion next year, it will take only half an hour to travel to Shenzhen and one hour to any other city in the Greater Bay Area.

The Greater Bay Area is an urban cluster consisting of the special administrative regions of Hong Kong and Macao and nine cities in Guangdong. It is an important step in China's creation of world-class urban clusters and participation in global competition. Zhongshan's significance as a central nexus linking prominent urban centers within the area, together with its diverse industrial fields and prospects, will help scale the regional business landscape and lift it to global levels.

(Reporting from Zhongshan, Guangdong Province)

(Print Edition Title: Global Go-Getters)

Copyedited by Elsbeth van Paridon

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