TSEM MiM-CEMS Global Alumni Week Events was held by MiM-CEMS program of Tsinghua University School of Economics and Management on March 23rd, 2017.The events including visiting Tsinghua Entrepreneurship Incubator x-lab and the seminar“Innovation and Entrepreneurship in China”. Supported by Tsinghua SEM MiM-CEMS office and CEMS Club, the event attracted more than 20 MiM-CEMS students to attend.

Welcomed warmly by Ms. Tal Badt, Head of Tsinghua x-lab Intellectual Property Center, CEMS students visited the showroom and incubator of x-lab in the morning. During the visit, CEMS students experienced several innovative products of X-lab entrepreneurs, such as “Easy Coffee”(易咖) vendor machine which targeted itself as an automatic substitute of a Starbucks coffee shop, a freestyle transformable discussion area, mini portable air cleaner, menstrual period thermometer and 3D printer. CEMS students expressed strong interests about the innovative products.

After the showroom tour, CEMS students watched an x-lab introduction video, in which, Prof. Qian, Yingyi, dean of Tsinghua SEM stressed that X-lab was an incubator supported by Tsinghua Innovation Course and follows “Creativity, Innovation and Entrepreneurship”, a three-in-one strategy. Ms. Tal introduced that, since the establishment of x-lab from January 2015, around 23,000 people have attended events held by x-lab and 1,008 entrepreneurship teams have been accommodated by x-lab. The Tsinghua's famous innovation challenge competition “President Cup” is annually held by x-lab. During the competition, Tsinghua University students forge, sharpen and showcase their entrepreneurship and innovative thinking.

CEMS students experienced international entrepreneurship environment and incubators` management process of entrepreneurship projects during this visit. They gained the first-hand insights that Tsinghua University by will and action strongly supported the innovation of students and alumni.

Jan H. Milark, a Tsinghua SEM MiM-CEMS alumnus who graduated in 2013, shared his entrepreneur experience as a foreigner in x-lab and in China with CEMS students. He emphasized that China provided an excellent entrepreneurship environment for foreign entrepreneurs. The development of Internet and the expansion of investment institutions in China established a good foundation for innovation projects. Speaking of his own experience, Milark encouraged foreign entrepreneurs to study policies and the process as for applying for the business license in China.

In the evening, the CEMS “Innovation and Entrepreneurship in China” seminar was held in Tsinghua SEM. Tsinghua MiM-CEMS alumni, Jan H. Milark, Stewart Johnson and Wenjuan Jiao shared their experience with CEMS students regarding “entrepreneurship in China”, “business opportunities in China”and“culture differences between China and western corporations”.

MiM-CEMS students at x-lab

Jan H. Milark is sharing his experience with students

Ms. Tal Badt is introducing x-lab

Milark used to work in McKinsey overseas after graduation and went back to Beijing in 2016 to establish “Art Cross”(艺渡), an e-commerce company devoted to bring international arts into China. He said that China had plenty of innovation opportunities due to fast changing markets, which was also the reason of his coming back to China to set up his own business. The internationalized team was a key to founding of his company. “Execution is really important, since you will know how to solve the problems when you start to deal with them.” He stressed.

Steward founded Alpha Education Company and Hatchery Catering Incubator in 2013. He suggested that the distinguishing feature of company was the most important element on the way to success set-up of a company, and that foreigner had to face challenges such as acquiring a new language, different culture and values when working in China. However, he mentioned“once you overcame the challenges, the foreign background would be a competitive edge for the company, since you could match the foreign resources with local demands”.

Jiao have been working as a management consultant specialized in high-tech industry in Siemens Management Consulting in 2014. She said that the consulting forges her professionalism. During her work, she tried to learn as much as she can so she can think with the point of view of her experienced clients. What's more, as a coordinator with the big picture in mind, she was well aware of the different roles and expectation of different stake holders, and shall communicate with different skills to each of the stake holders to ensure reaching the common target. At last, she stressed:“Never fear to ask questions as long as you are expressing a sincere attitude.”

Alumni and students at “Innovation and Entrepreneurship in China” seminar

The CEMS GAW event enhanced the connection between alumni and MiM-CEMS students, and provided a great platform for students to learn the significance of innovation in international markets and the large scale of entrepreneurship opportunities in China as well.