Next week is a long national holiday in China, celebrating the founding of People’s Republic of China in 1949. My inbox will slow down but I know a lot of my partners and colleagues will still be working in the private medtech space in China. The RAs want to beat the record of obtaining class II device within a year! The 20% equity ownership motivated entrepreneurs are designing and testing their prototypes to meet the VC next milestone. Distributors are paying visits to their key stakeholders etc. To these private enterprise owners or professionals, some of them never stop working. When they relax, their activities seem to involve networking or team building activities. I know that if I call them about work, they will readily pick up my calls and discuss work!
So many people, young or old, so much energy and efforts focused or not, are all eager to work hard and make a difference. My teenage girls complain if I ask them to do homework during weekends. Their Chinese counterparts are doing homework 7 days a week in order to get into a top college or come to the U.S. to study.
With so much dedication and drive, I wonder how China can slow down relative to us in the U.S. There seem to be so many opportunities across the country like the wild west in the U.S. but with the landscape of high rise buildings packed densely like a forest in the cities. I share the view of the optimist side of the latest McKinsey report.
Views taken with my iPhone this summer in Nanjing, Shanghai, Hangzhou and Beijing with rainbow.
The Chinese Government Healthcare 2020 and China Innovation have created high demand by the companies across industries and financial sector for collaboration with and investment in the U.S. companies. My 20+ years of medtech experience between the U.S. and China suggests that U.S. medtech start-up companies will be able to join the growth in China and be on the optimistic side as well. Take the risk and do not be tied back with all the concerns and war stories you heard from 5 years ago. 5 years in China is a long long time… If you have any doubts, please email me at gpalma@chinameddevice.