During an interview, Andy Pan, Vice President of DJI, a company best known for its consumer drones said that China's tech industry needs to foster innovation and rightly focus on addressing specific needs of niche markets.

In an event hosted by Tech Crunch, Pan shared his sentiments on the technology industry in China saying that though the country is known extensively for its mass production business model, the technology start-ups need to differentiate themselves. He said that China's tech industry has more potential to grow if they focus on fostering innovation that will help in addressing the needs of niche markets. DJI is an Accel Partners start-up that is currently valued at eight billion to ten billion dollars.

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The company is known for manufacturing consumer drones and had recently hit headlines with its latest drone called the Matrice 100. According to NYC Today, the new DJI drone makes use of a unique on-board guidance system that makes it a preferred choice. The new system also comes with an integrated ultrasonic sensors and visual cameras to guarantee a better responsiveness. The new drone is designed to track the environment from all sides giving it a unique 360 degrees view.

China is also home to a big smartphone user-base, making it one of the most important countries for the technology companies as this is from where a large part of the revenue comes. Focusing on niche markets can prove to be quite a game changer for Chinese technology firms. Thanks to their ability to be customized, the new DJI drones can be used as a development platform. This will allow the drones to provide tools for third party developers.

Additionally, this unique development makes DJI one of the only companies in China to focus on addressing the needs of smaller markets. This clearly differentiates the entrepreneurs behind DJI from their predecessors who have been known to attack an existing business model to make it better. The new breed of business owners is more focused on identifying something that didn't exist and do it differently. 

TagsChina technology firms, DJI Drones, Matrice 100