Thunderbird Emerging Markets Business Association (TEMBA) organized an Emerging Bazaar on Thursday April 24th. It was an informational event with teams from different countries of the world showcasing the ‘attractiveness’ of their market. Few clubs had an extensive research document about the market condition in their country while few others had excellent speakers describing the conducive nature of their country to start a new venture.
Tony Fu from the China Entrepreneurship Network (CEN) was very enthusiastic when asked about China’s current status in support of young entrepreneurs. He said that there is a growing awareness of how to start a new company in China, with new specialized courses tailored for starting a new company. He also added that few of his friends are trying to form a new company and that in China it is better to have a strong local contact before venturing to start a new business.
Vicky Chang from Taiwanese club explained the growing nature of Taiwanese market. She commented the emergence of electronics and information technology as new big markets in Taiwan. Taiwanese club gave a detailed document explaining how to begin a new company in Taiwan. Which are the fastest growing sectors in Taiwan? Among others.
I found quite a number of students surrounding the Middle East North Africa (MENA) club. When I approached them, I found the reason. MENA club members were busy helping their friends getting dressed in their traditional costumes of Kandura and Guthra. Muhammad Mostafa was finally available for a quick chat. Being a young entrepreneur from Jordan, he explained the emergence of IT as a new emerging field in Middle East and specifically in Jordan. He said with the new laws in place, it would take just 2 weeks to register a new company and start working at Jordan.
Koji from Japanese club worried that it is becoming difficult to start a new venture in Japan and that the Japanese population is ageing. Like Julia from the European Business and Culture Club (EBCC), he also stressed the need to have a local contact who speaks Japanese and Russian in Japan and Russia respectively as a means to start a new venture in a faster way.
Seo Biho from the Korean club mentioned that the gaming industry in Korea is very strong. There is a need for new game designers, graphics specialists and game programmers and said that the gaming market is growing at a phenomenal rate followed by oil and gas industry.
Overall the event was well organized and was attended by many students who not only gained knowledge about the emerging markets but also did taste favorite snacks from different parts of the world. It was a relaxing event and a perfect way to start the weekend.