In late November 2017, company CTO George Sopasakis, was invited to China to present the Ximantis approach to traffic congestion to researchers, industry, and government officials. The invitation was extended by the Qingdao municipal government and other officials. At this first leg of the trip, Ximantis presented during the 2017 Qingdao International Technology Transfer Conference & Aoshan Forum for Eurasia on Science and Technology at Ocean Spring Resort Grant Metropark.
During the second leg, in early December, Mr. Sopasakis was invited for private talks regarding joint venture opportunities with specific Chinese companies in the north part of China. XIMANTIS’s technology is of direct commercial relevance to China’s ambitions in the Smart City / Smart Transportation sectors.
At the third leg of this trip, at Guangzhou, there were additional meetings and presentations with representatives of the Guangzhou Xiaoyang Information Technology Services and local government officials to discuss the possible collaboration and investment opportunities regarding XIMANTIS’s traffic congestion AI solutions in China.
China has prioritized investment in AI technologies while China’s Urban development has contributed to an increased concern about environmental pollution and congestion. The government currently spends over 450 Billion Yuan annually to the transportation sector alone. Ximantis’ patented technology and unique approach can potentially have a dramatic impact on all those areas of concern.