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WSJ Converge 2017 Final: China Frontier Tech Trends

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Managing Partner Jenny Lee of GGV Capital gave a keynote on China Frontier Tech Trends at WSJ Converge 2017

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WSJ Converge 2017 Final: China Frontier Tech Trends

  1. 1. China Frontier Tech Trends 2017 WSJ Converge Presentation by: Jenny Lee Managing Partner, GGV Capital
  2. 2. Strong support from Chinese government will help this sector flourish Source: China Gov’t 13th 5 year plan, 2017 China Gov’t work report, GGV research 13th 5 Year Plan Puts Internet, AI, Big data as Priorities China sets aggressive targets to become an innovation driven country by 2020 18 15 2015 2020 $3.1T $4.8T 15% 20% 48 60 Country innovation ranks High tech Co. revenue Percentage of GDP by high tech Co. R&D talents per 10k labor GGV CONFIDENTIAL Slide 2
  3. 3. Frontier Tech Trends in China Smart Transportation Robotics Innovation Age of Intelligence Smart, Green & Autonomous Human Machine Interaction Human Machine Integration GGV CONFIDENTIAL Slide 3
  4. 4. Environmental Pressure Natural Resource Constraints Consumer Upgrade Source: China 13th 5-year plan, National Bureau of Statistics of China, GGV research Chinese Government Highly Motivated GGV CONFIDENTIAL Slide 4 Greener, smarter transportation will elevate pressure
  5. 5. Total Government Pledged Investment $16 Billion Policy Support 2020 Targets Free License Plates 20-60K RMB Subsidy/Vehicle 5M EV Car Lots 3.1K Charging Stations 500K Charging Piles Source: www.gov.cn, GGV research Chinese Ambitions for Smart Transportation Notes: 2014-2020 pledged amount GGV CONFIDENTIAL Slide 5
  6. 6. Full EV Hybrid Total (Units) YOY 263K 81K 344K 73% 30% 60% (Units) YOY Q1 2017 64K 14K 78K 67% -32% 31% 2017 Chinese EV Market Statistics Source: auto.sohu.com, www.chinaev.net, ResearchInChina: 2016-2020 China EV report, GGV research Consumer 2016 GGV CONFIDENTIAL Slide 6 New EV ownership exceeds 1 million units in 2016, expected to exceed 5 million units in 2020
  7. 7. BYD SAIC GEELY JAC BAIC Local OEMs Transitioning to Smart, Green & Autonomous Source: Company Website, GGV research GGV CONFIDENTIAL Slide 7
  8. 8. NINEBOT NEXTEV LETV FARADAY NIU Emerging EV Startups for Different Consumer Needs Source: Company Website, GGV research GGV CONFIDENTIAL Slide 8 CHEHEJIA BIKE SHARING Including the trending bike sharing wave hitting all China cities
  9. 9. Raised $5.5Bn for Frontier Tech and Globalization Established Apollo Project, an Open Source Ecosystem on Self-Driving AI + Self-driving R&D Set up Silicon Valley AI Lab Baidu WuZhen Fleet Demo Baidu L4 in Beijing More Autonomous; Startups with Chinese Founders .. Source: finance.sina.com, it.sohu.com GGV research GGV CONFIDENTIAL Slide 9
  10. 10. Chinese Robotics Market ($Bn) Chinese Robotics Market Set to Grow Source: www.robot-china.com, iResearch, GGV research GGV CONFIDENTIAL Slide 10
  11. 11. Robotics R&D Investment by Revenue IP per ¥100Mn revenue Units of Local Brand Production Sales of Consumer/Service Robots 2015 2020 0.95% 0.44 n/a $1.2Bn 1.26% 0.70 100K $4.3Bn Chinese Targets for the Robotics Industry Source: www.miit.gov.cn, China Smart Manufacturing Plan 2025, GGV research GGV CONFIDENTIAL Slide 11
  12. 12. Source: IFR, China Robotics Industry Development Plan, Company Website, GGV research Fast Growing Chinese Industrial Robots Market GGV CONFIDENTIAL Slide 12 Global stock of operational robots expected to increase from 1.6m units in 2015 to 2.6m by 2019 China expected to lead purchase of robots at 40%(160k units) of global supply in 2019 (from 27% in 2016) • China domestic technology still lags behind foreign players and needs to catch up • Policies look to support R&D and startups through investment. Set targets of 100k Made-In-China industrial robots, 500k robots with six axis and sales to exceed 30Bn yuan by 2020 0 20 40 60 80 100 120 140 160 2014 2015 2016 2017 E 2018 E 2019 E Thousands Annual Supply of Industrial Robots (Units) China Asia/Australia Europe USA Average Robot Density in 2016 Unit per 10K employees Global Average at 69
  13. 13. Industrial Production Warehousing/Logistics Warehousing/ Picking Sorting Systems Source: IFR, China Robotics Industry Development Plan, Company Website, GGV research Examples of Chinese Industrial Robots Manufacturers GGV CONFIDENTIAL Slide 13 E-DeodarSINSUN
  14. 14. Restaurants KEENON YUNJI MICROHAND A TINAVI NUDT Hotels Medical Public Security Examples of Chinese Service Robots Startups Source: Company Websites, GGV research GGV CONFIDENTIAL Slide 14
  15. 15. Devices for the Home Examples of Chinese Consumer Robots Startups Source: Company Websites, GGV research GGV CONFIDENTIAL Slide 15
  16. 16. Chinese government positions AI as the next priority for development Next Priority for Chinese Development: AI+ Premier Li included AI in 2017 Government Work Report • Build up AI ecosystem, industrial standard and public service platform • Support AI R&D and commercialization • Build up IP and talent education system Government released ‘16-’18 Internet and AI 3-year plan NDRC initiated a National Deep Learning Lab, led by Baidu in 2017 Government plans to invest $15Bn to develop AI industry Source: 2017 China Gov’t Work Plan, www.gov.cn, GGV research GGV CONFIDENTIAL Slide 16
  17. 17. Computing Infrastructure Algorithm Data AI Infrastructure, Talent, Data: China is Ready Source: World Bank, CNNIC, US Office of Science and Technology Policy, GGV research 21% 15% Note: China expected to generate 15% of global data in 2017, growing to over 21% in 2020 GGV CONFIDENTIAL Slide 17
  18. 18. Chinese Startups in Computer Vision Facial and Image Recognition API for Different Applications Raised ~ $120M in 2017 Raised ~ $100M in 2017 Source: Company Websites, GGV research GGV CONFIDENTIAL Slide 18
  19. 19. Chinese Startups in Natural Language Processing Speech Recognition Semantics Comprehension Ticmirror, NLP enabled for cars Ticwatch, NLP enabled for consumers Input Voice Assistant Voice Touch Dictation • 97% accuracy for Chinese language • Supports 40+ dialects • Realtime speech2text translation Source: Company Websites, GGV research GGV CONFIDENTIAL Slide 19
  20. 20. China is leveraging AI capabilities to build up next gen applications across industriesAI + Education AI + Surveillance AI + Medical AI + Security AI + Customer Service AI + Finance Emerging AI+ Chinese Startups Across Industry Verticals Source: Company Websites, GGV research GGV CONFIDENTIAL Slide 20
  21. 21. Government Support Rising Innovation Towards a Technology and Innovation Driven China GOVERNMENT SUPPORT China State Council 13th five-year plan to accelerate dev. of high tech industry by 2020 BUDDING TALENT By 2030, 27% of all 25- 34 years with a degree will be in China, and more overseas talents will return RISING INNOVATION Since 2014, China has outstripped both US and Japan in number of global patent filing at 34% market share (wipo.int) LARGE DATA SET China is expected to have 772Mn internet users, generating 15~20% of global online data by 2020 HUGE MARKET China has a population of 1.4Bn, 30Mn enterprises, 290Mn vehicles, and 1.1Bn smart phones Source: Company Websites, GGV research GGV CONFIDENTIAL Slide 21
  22. 22. Jlee@ggvc.com EXCITING JOURNEY AHEAD ..

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