Summit Bridge unveil Irish-China scheme

Summit Bridge unveil Irish-China scheme

Monday, June 23 10:23:09

Irish technology growth capital investor and manager of the China Ireland Technology Growth Fund, Summit Bridge Capital, today unveiled the first-ever China-based executive networking and relationship group.

This will connect C-level Irish Executives with their Chinese counterparts.

The high-level group, Sino-Irish Technology Executive Society (SITES), will bring together leading technology executives from the Republic of Ireland and the People's Republic of China for a number of forums each year to promote cross-border trade.

The establishment of SITES was announced today at the China Ireland Technology Summit, which is being jointly sponsored by Summit Bridge Capital and attended by over 300 delegates in Beijing and Shanghai. The China Ireland Technology Summit is part of the Trade Mission to China this week led by Minister for Jobs, Enterprise and Innovation Mr Richard Bruton, along with Enterprise Ireland, IDA and Summit Bridge Capital.

SITES' C-level networking group will be open to Irish technology companies that have already established strategic market relationships in China and Chinese technology companies currently operating in Ireland or seeking to expand to Ireland as a gateway to Europe. Participation in SITES is also open to companies outside of those funded by Summit Bridge Capital.

Summit Bridge Capital is a $100 million growth technology fund launched in January 2014, co-managed by Dublin-based Atlantic Bridge Capital and Beijing-based WestSummit Capital.

The fund targets Irish and Chinese companies operating in core technology sectors such as internet, software, semiconductors, cloud, and clean technology and areas of technology for which the fund's strategy is uniquely positioned, including but not limited to agriculture technology, food technology, medical technology and financial technology. The fund is supported by the Ireland Strategic Investment Fund (ISIF) and China Investment Corporation (CIC).

Summit Bridge Capital is finalising terms for investment in a number of companies after having met with over 100 technology companies since it was established.

SITES will initially meet at least twice a year, with Summit Bridge Capital hosting annual events in Ireland and China.

Raymond Yang, Managing Director of Summit Bridge Capital, commented, "Chinese technology companies are rapidly expanding to overseas markets. Ireland offers a highly skilled workforce and already serves as a gateway to Europe for many of the largest technology companies in the world. The Sino-Irish Technology Executive Society enables Chinese executives to exchange views and build relationships with key business partners who can help take their companies global."

"Given Ireland's strategic position in Europe, Irish technology companies think globally from their inception," said Brian Long, Managing Director of Summit Bridge Capital. "China occupies a central role in the global technology industry and the Sino-Irish Technology Executive Society enables Irish executives build the necessary senior relationships with Chinese customers and partners to succeed in China."

www.businessworld.ie/livenews.htm?a=3179604

 

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