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Leahong CCIFP, as WTOIP’s long-standing strategic partner, is a Guangzhou-based cultural industry park with strong market distribution capability and channel resources backed by its parent company, Leafun Group. It was looking to scout exquisite creative projects for incubation purpose.
Victoria Productions is a company based in Korea with focus on design and production of AR/VR/MR education products, one of the Top 30 of IPIEC GLOBAL 2017.
WTOIP considered the matching possibility promising, given that the project TRL is high in comparison with similar products in the market, and it was in urgent need to expand channels and promotion in China, while Leahong can be of help in this regard. For the consideration of risk reduction and better guarantee, WTOIP suggested joint venture as the kickstart for such Sino-Korean cooperation.
With WTOIP’s active involvement, the park offered the project free admission and desired channels in exchange for shares of the Joint Venture, through which Victoria has secured order with expected volume worth CNY 5 million.