October 18, 2017. There is something in the air as the competitors arrive at the 119th floor of China’s first high-rise building, located in Shanghai. They have traveled here to take part in China’s Human Resources Venture Innovation Competition, a targeted event aiming to draw out upcoming business ventures in China which look set to make a difference. Ventures which look to innovate.
A total of 242 projects have made an appearance in the human resource’s category “IT Internet innovative project business plan”, alone. They are all hoping to win recognition over their counterparts. LaowaiCareer is no exception, having been nominated 6th place when it comes to innovation and looking set to receive a top 15 award.
What is China’s Human Resources Venture Innovation Competition?
China’s Human Resources Venture Innovation Competition was started after three business and investment leaders in China, recognized the importance of innovation in the human resources industry. As they say: Innovation is the rule of the new world, it is the driving force behind the development and progress of humanity, it is a type of industry development and expansion which acts as a catalyst. Innovation is the difference between a good company and a great company.
For LaowaiCareer, this is great news. As a company looking to innovate when it comes to hiring foreign talent in China, LaowaiCareer has managed to excel since its inception. To date, over 500 companies have signed up to the job search platform in order to find qualified candidates. That includes big-name companies such as BMW, Lenovo, XinfangDong, and more.
With a dedication to their work and their cause, LaowaiCareer has successfully managed to connect countless employers and candidates. They aren’t just good at extreme sports. China’s Human Resources Venture Innovation Competition is just the end of a phase, the next one of which will further work towards making a job search platform which is uniquely simple and accessible to talent from overseas.
The projects entered are assessed on a number of different criteria. This includes, but is not limited to, market scale, team structure, and revenue. Innovation, however, is an integral part of the process and the question of whether a company or venture is making a difference when it comes to their industry looms big.
Who is behind China’s Human Resources Venture Innovation Competition?
The three faces behind making that judgment are Mr. Tang Qiuyong, Mr. Zhuang Zhi, and Mr. Weng Zhefeng. Their knowledge and experience in project investment make them uniquely qualified to judge the competition today. Each of these individuals has made their own waves of innovation in China; owning their own investment firms and getting behind ventures they think are on the way up.
Those three investment firms are the reason this competition is here in the first place. Engma HR Tech Fund, HRoot, and Cyzone. All three focus on the human resources industry, trying to strategically invest capital in areas which aren’t only profitable, but which will also lead to the further development of China. As China continues to develop further, that reach is slowly extended past just China and to the world as a whole.
The three notes that a good investment firm isn’t just about investing capital in the form of money. A good investment firm makes sure to share experiences, knowledge, and support with the ventures they work with. A good investment firm makes sure to help those they work with develop a sustainable business plan which will accelerate development and boost significance.
HRoot, one of the companies behind the event, is the largest human resources media company in China. HRoot has been responsible for the success of some of the industry’s strongest, industry leading brands and companies, and has become an authoritative voice when it comes to human resource management. Those in attendance today are hoping that they might just be HRoot’s next big company.
This isn’t the first time China’s Human Resources Venture Innovation Competition has taken place. The first competition in 2016 was met with a tie, the judges unable to make a clear distinction between the finalists. This time, however, the scale is bigger and projects entered have to be more sophisticated and elegant. Judging criteria has been brought up a step, making competition fiercer than ever before.
Yet LaowaiCareer is no stranger to competition. It’s no secret that the Chinese job market for foreigners is huge. This isn’t just for teachers anymore. Industries such as architecture are also seeing a boom in demand. Countless companies and job search platforms vie for their own share in that market, making a human resource company’s first steps tricky. Facing competition is in LaowaiCareer’s DNA. Recognizing the role and importance of competition is part of what makes the job search platform so effective.
LaowaiCareer Gets Top 15
The first place winners were Easy Mother, followed by Designup in second, and Booqed in third. In addition to these winners, Wheat Smart Recruitment, Dockin, Sesame back, Start, Fishing, ACE, LaowaiCareer, Kay case, STSA, Easy to Fly and 10 other projects were awarded in the “Fifteen Strong” category.
Each venture awarded in the “Fifteen Strong” category will receive an investment of 10 million Chinese Yuan, helping them to achieve further heights before the event is repeated next year. In addition to this, each venture will be given access to a range of quality resources by the investment firms which had helped to organize the event. In China, job opportunities for foreigners might be a multitude, but accessing them reliably does need support.
With the event over, and the contestants and winners ready to head home, a big question still remains. Innovation has made an appearance here today in droves. It has shown its face and let the human resources world of China know that times are changing and that they need to change too. So, who will be able to keep up with these changes and who will be left behind? LaowaiCareer aims to be there, right at the top, waiting and helping others make it to.