“We are looking at a wide range of companies. Irish companies which have proven their business models in other markets could do very well in China if they establish the right channels and routes to market,” Samuel Qi, a founding member of the Shanghai Zijin Entrepreneurs Club (ZJEC), told The Irish Times, “we hope to be able to provide the finance and the connections that will facilitate these companies in their China ventures in the coming years.”

“We are keen to invite Irish companies that are planning to tackle the China market to make contact with us to discuss possible co-operation and investment,” added Qi, “if there are compatible interests – and where ZJEC can see the potential to use our members and networks to accelerate the business in China – we will offer to invest in the China operations. All 80 members of our club are graduates of Tsinghua University, and are funders of medium-scale companies. We visited Silicon Valley last year, and next year we will visit Israel. This year we went to Ireland in July, a group of 24 investors, with our spouses and children.”

The aim is not to be an incubator but to back existing businesses with 100+ employees.

“We want companies that have their own intrinsic advantages, such as med-tech or healthcare,” said Qi.