Contxto – Cross-cultural and business connections between China and Latin America will likely flourish following the debut of the ToJoy accelerator in Mexico. For the global executive director Jun Ge, the mission is to internationalize Mexican startups seeking Chinese expansion.
Not only does financing prevent this from happening, but also the lack of knowledge regarding the Chinese market.
“The problem is that they do not know how to enter the market, with whom to work, how to find financing, or how they will succeed,” said Ge. “ToJoy offers them such solutions, we help companies to work together. We bring innovation from an external country to China and we support them to be successful.”
Besides collaborating with Mexican ventures in premiering in China, ToJoy also aspires to finance them. On the flip side, it will assist Chinese companies interested in launching operations in Mexico. When it comes to which companies ToJoy hopes to assist, the organization is rather open to every possibility.
“We are interested in all types of companies, whether high-tech, innovation, restaurants, handicrafts, etc., as long as they have a successful and innovative model we can take them to China,” added Ge.
“What we want in ToJoy is to help them improve their business schemes, couple their operational models to the Chinese market, connect them with the investment community of the country, and help them grow.”
ToJoy in Mexico
As a fund, ToJoy has over 700,000 accredited investors with average individual investment capacities of US$1.5 million. Regarding the internalization of Mexican companies, the process will take between six and nine months.
For Ernesto Zedillo Jr., the CEO of ToJoy Mexico, this arrangement will yield some positive results. Specifically, it will aid the world’s largest Spanish-speaking country in diversifying its commercial and investment ties with other nations.
“Without a doubt, what makes Mexico so attractive is its enormous economic potential thanks to its human capital, accumulated business experience and one of the most extensive commerce networks within the global context,” said Zedillo.
Founded in 1991, ToJoy has incubated over 100 unicorns and almost-unicorns around the world. Industries range from artificial intelligence, big data, the Internet of Things, Internet Plus, blockchain, new retail, and e-commerce.
Shall a Mexican unicorn emerge from these dynamic efforts? Time will tell.
-JA
