We are happy to announce that KONE has selected four startups, out of the 12 Value Proposition Day participants, to continue partnership discussions.
The second Venture Client Cycle in China is moving into the partnership stage. Last November, KONE launched two business opportunities addressing their needs in China. One addressed improving passenger safety and the other for enabling smart building environments. At first, we had over 100 startups with solutions to scale for KONE business needs. Out of them, we invited 12 to the all-virtual Value Proposition Days.
Four of these startups were chosen by KONE to continue with further discussions. The first part of their journey is complete and the real work is about to begin. The first task is to scope out the scale of their exploratory work with KONE. After that, each startup and KONE will co-develop a new solution to address the business need. If results are good, the solution will be commercially deployed and scaled across the Chinese market. We will be eager to share the results of the new partnerships, so watch this space!
This was the first local Venture Client Cycle in China for KONE, but the second one for the Foundry team. We could not be more proud to have another Foundry company jump in and gain such great takeaways for the future. Our most sincere thanks go out to KONE teams in the Nordics and China! Naturally, this would not have been possible without you.
With two good runs under our belts, we are not stopping now. Foundry will be back in China with a new cycle before the summer. We look forward to seeing new Foundry companies and bring fresh opportunities specific to their business needs in China. Expect to see more info during this Spring!
Want to know when the next cycle kicks off? Follow us on LinkedIn to stay up to date on our activities in China.