HARBIN, China, July 7, 2017 /PRNewswire/ -- HIT Robot Group ("HRG", or the Group), China's leading robot company, appeared at the Third China-Israel Investment Summit in Zhuhai, Guangdong Province, last week. In a panel discussion, HRG's senior vice president Yu Zhenzhong shared his insights into Chinese robotics industry and expressed a wish for more cooperation with Israeli counterparts.
The China-Israel Investment Summit was launched in 2016 as an event to promote high-tech innovation and enterprise cooperation between China and Israel. The previous two events took place in Beijing in January and Tel Aviv in September 2016, respectively.
At the panel discussion on the future of robotics industry, Mr. Yu shared his insights with the business leaders and experts from both countries. He noted that though Chinese robotics companies are still weak in producing high quality core components, they show great potential in intelligent technology development.
In Yu's observation, a major issue for most Chinese robotics startups is a shortage of financing. "Robot business is technology and capital intensive. In China, many startups can only survive a few years in the hands of founders from pure technology background. Without any business experience, they cannot find a proper platform to pitch their products or services. As a result, the financial support provided to them is limited," he said.
For their survival, Yu suggested Chinese robotics startups to focus on providing application and integration solutions in the downstream by leveraging existing resources, and try to satisfy customers' most urgent need in reality. He also pointed out that the startups need to work hard to strengthen quality control in robotic system design and production workflow.
Since the start of the company, HRG has been fostering robotics innovation. In May, HRG held an event with forum and roadshow competition at the University of Maryland to honor outstanding startups for their innovative efforts. In 2016, HRG organized the Robotics Entrepreneurship Competition of the 15th College Robotics Contest to support Chinese college students to realize their robotic business ideas.
Zvi Shiller, chairman of Israeli Robotics Association, proposed a robotics institute to support Chinese and Israeli startups. In response, Yu said that HRG would be happy to consider the plan and enhance cooperation with its Israeli counterparts in the future.
About HIT Robot Group
HIT Robot Group (HRG) was founded in December 2014, with support of the Heilongjiang provincial government, the Harbin municipal government, and the Harbin Institute of Technology (HIT). The company produces all range of robots including industrial robots, service robots, specialized robots, and also provides related technical consulting, system integration solutions, and distribution services. With its headquarter in Harbin, HRG has presence in 13 major Chinese cities and five international offices in Maryland, California, Frankfurt, Seoul and Tokyo.
SOURCE HIT Robot Group