NexTech AR Expands into China Hiring Steven Seet as Senior Director, Asia Pacific
NexTech AR Solutions, a leading provider of virtual and augmented reality (AR) experience technologies and services for eCommerce, education, conferences and events announced that it has added Meeting Incentive, Convention & Exhibition (MICE) industry veteran, Steven Seet, as its Senior Director, Asia Pacific. In his new role, Seet will utilize his vast network and industry experience to support NexTech with its rapid expansion into Asia’s MICE industry, which according to Allied Market research is valued at $229 billion.
Seet is a pioneer in the MICE industry with over 30 years’ experience spanning from international trade shows organization to mega convention and exhibition center management. During his career, he has held many senior positions including CEO of Jakarta Convention Center, Group GM of Singex Group, and Managing Director of various exhibition organizing companies, along with numerous Chairmanship and Vice Chairmanship positions in National and Regional MICE Organizations throughout Asia. Throughout his career, Seet has also worked with Oshidori International, ExpoBee, Bohai International Convention and Exhibition Center, Blenheim Asia, UBM Asia, Montgomery Network, Singapore Exhibition Services, Hong Kong Exhibition Services and Bangkok Exhibition Services.
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Based in Shenzhen, China, Seet is well positioned to help NexTech AR penetrate into Asia Pacific MICE industry, including the tremendous potential in China. China’s MICE travel and tourism market is showing rapid growth and is expected to reach a market value of over $31 billion by 2026. Through his diverse experience, Seet will be able to introduce and develop virtual and new hybrid events that meet the shifting demands of the Asia-Pacific market.
“The addition of Steven Seet is a win for NexTech’s Asia Pacific team, his experience and know-how around some of the region’s largest and reputable convention centers and organizers will simplify our continued push within the Asia Pacific MICE market,” Yau Boon Lim, President and Managing Director, Asia Pacific at NexTech AR. “NexTech has been able to succeed in North America because of its recruitment and reliance on top talent from companies ranging from Apple, Microsoft to SAP. In the Asia-Pacific market, we are creating partnerships and attracting experts like Seet from the MICE industry to replicate that same success. We look forward to him joining the team and believe his influence and network will be a tremendous asset to NexTech.”
NexTech CEO Evan Gappelberg comments “We are rapidly growing our global reach and with this new hire of Mr. Seet we have expanded into the largest market in the world, China. We see tremendous growth opportunities throughout Asia where demand for our AR, and virtual experience solutions is quite strong. Having experienced and connected professionals on the NexTech team in Asia and throughout the globe will accelerate our landing of large contracts with well-known players in the region, setting the stage for another tremendous year of growth in 2021”.
A report by Allied Market Research notes that the Asia-Pacific MICE industry generated revenue of $229 billion in 2017 and is expected to grow at a CAGR of 8.6% to reach $441.1 billion by 2025, providing a significant opportunity for virtual and hybrid events.
Pursuant to the Company’s stock option plan, the Company has issued 33,000, 3-year stock options priced at $6.51CDN. The Company also announces the cancellation of 200,000 incentive stock options previously granted on November 12, 2020.