Chinese firms step up investments in R&D

BEIJING — It took Chinese entrepreneur Zhang Junbin eight years to transform a small startup with just 200,000 yuan ($28,090) in initial capital into a unicorn enterprise that now sells smart robot vacuum cleaners and mops in over 30 overseas markets.

Driven by a commitment to excellence, Zhang, founder and CEO of Shenzhen-based Narwal Robotics, today leads a company of over 1,000 employees, a remarkable achievement considering its humble start in 2016 with fewer than 10 employees.

Narwal did not launch a single product in its initial three years. Instead, it invested all of its resources into technology and product R&D, focusing on the details. The materials that had to be designed for the company's robot mop alone were selected and improved dozens of times. This slow progress threatened the firm's survival at one point.