Tsinghua University TrilogyVC Startup Salon

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TrilogyVC startup salon at Tsinghua University

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Tsinghua University TrilogyVC Startup Salon

  1. 1. Don’t just start a career Start a Business
  2. 2. Trilogy Ventures “Don’t just start a career – START a Business <ul><li>http://www.trilogyvc.com </li></ul><ul><li>http://stevebell.renren.com </li></ul><ul><ul><li>RenRen: 史蒂夫 steve bell </li></ul></ul>
  3. 3. Agenda <ul><li>Steve Bell - How to start-up </li></ul><ul><li>Hu Sen - co-Founder CEO iWeiShi </li></ul><ul><li>包炬强 Tim -co-Founder CEO Buding.cn </li></ul><ul><li>Elevator Pitch Competition - 3000 RMB </li></ul>
  4. 4. Steve Bell <ul><li>B. ChE – Georgia Institute of Technology 1985 </li></ul><ul><li>GE early career </li></ul><ul><li>GM Tier 1 Auto Supplier </li></ul><ul><li>Founder /CEO CORE Products GmbH </li></ul><ul><li>Founder / CEO SupplySolution Inc. </li></ul><ul><li>Trilogy Inc. VP </li></ul><ul><li>Founder / CEO ShangBy Inc. </li></ul><ul><li>VC – Trilogy Ventures – Founder and MD </li></ul>
  5. 5. Portfolio Trilogy VC ZoZou.cc DroidHen
  6. 6. Raising early stage capital in 2000 <ul><li>EASY </li></ul>
  7. 7. Raising early stage capital 2011is hard <ul><li>“ Call me when you get bigger” </li></ul><ul><li>“ Let’s talk again when you have proven your business model” </li></ul><ul><li>“ We can met after you prove how it scales” </li></ul>
  8. 8. what is better..... Raise < 1,000,000 ? Or Raise > 1,000,000 ?
  9. 9. Low capital Forces Focus Forces Focus
  10. 10. 2000’s capital INTENSE models are DEAD
  11. 11. <ul><li>Only external proof matters </li></ul><ul><li>need 10,000,000 something (RMB, users) </li></ul><ul><li>show the business can be HUGE </li></ul><ul><li>before running out of money </li></ul><ul><li>“ many tries” do do do do.... </li></ul>
  12. 12. <ul><li>10 -> 1000 ->1000000 </li></ul>EXTERNAL PROOF
  13. 13. Don't invest here Date: FEBRUARY 16, 2011 1:39:34 PM GMT+08:00 To: Stephen Bell <steve@trilogyvc.com> Subject: Re: Throw Out Your Business Cards, xxxxx iPhone App Is Now Live sure, but for 10x less we dont need investment, we can invest ourself And we can forget about a nice office, hiring 2nd group Eng people, all the symbian version, all the marketing, all the IP, legal and so on..
  14. 14. Droidhen <ul><li>3 students - profit after 30 days </li></ul><ul><li>In 6 months - 13,000,000 downloads, + 500,000 rmb / mo revenue, fast growing </li></ul><ul><li>In 9 months - 26,000,000 downloads, 1,000,000 RMB revenue, 50 + titles, </li></ul><ul><li>new game every 5 days! </li></ul>
  15. 15. JiaThis <ul><li>Social sharing </li></ul><ul><li>9 months old </li></ul><ul><li>1/2 china Internet population reached </li></ul><ul><li>120,000 + websites use </li></ul><ul><li>1,000,000 + unique IP per day share </li></ul>
  16. 16. Lezi.com <ul><li>ZJU student team - 3rd startup </li></ul><ul><li>About 1,000,000 rmb investment </li></ul><ul><li>Profitable < 6 mo </li></ul><ul><li>2 years later.... 5,000,000 per mo rev. , global, 250 people, Growing.... </li></ul>
  17. 17. Only External Results Matter
  18. 18. Sure I have results - but I want to GET FUNDED!
  19. 19. <ul><li>How do you get customers </li></ul><ul><li>NO Marketing Spend!!!! </li></ul>Grow Plan
  20. 20. If you wanna do MORE, you gotta do LESS
  21. 21. iWeiShi.cn Sen Hu - co-founder / CEO
  22. 22. 包炬强 (Tim) <ul><li>Experience </li></ul><ul><ul><li>Computer science/Master degree/ Zhejiang University – 2001 -2007 </li></ul></ul><ul><ul><li>Product Manager/Tencent – 2007-2010 </li></ul></ul><ul><ul><li>Co-Founder of a webgame( Sanguodou) – 2009-2010 </li></ul></ul><ul><ul><li>Founder of Buding (one of projects in innovation-works) – 2010.6 – now </li></ul></ul><ul><li>Entrepreneurship </li></ul><ul><ul><li>Sanguodou : a webgame, 100,000 users in half of a year, part-time, now failed </li></ul></ul><ul><ul><ul><li>Passion , no resource , no courage , no persist </li></ul></ul></ul><ul><ul><li>Buding : a mobile project focus on Local living information, 200,000 users in half a year, just got an angel fund. </li></ul></ul><ul><ul><ul><li>Dream , passion , the right time , team , explore , resource , courage , persist , learn , love </li></ul></ul></ul><ul><li>Contact </li></ul><ul><ul><li>Email: [email_address] </li></ul></ul><ul><ul><li>Tel: 18611202378 </li></ul></ul><ul><ul><li>QQ: 32309278 </li></ul></ul>
  23. 23. “ Elevator” Pitch <ul><li>60 Seconds – NO OVER-RUNS </li></ul><ul><li>What is your “Change the World” Idea </li></ul><ul><li>20 Presenters – Sign up in advance </li></ul><ul><li>Audience Votes </li></ul><ul><li>Trilogy Ventures picks top few– based on Audience Vote </li></ul><ul><li>Random Audience Panel – final vote </li></ul>
  24. 24. Don’t just start a career Start a Business

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