Singapore's transformation into an economic powerhouse has attracted adulation from developed and developing economies alike. In this paper, I discuss policies that fuelled this growth, and also highlight some negative side-effects/criticisms.
Pakistan faces many challenges at the beginning of the second decade of the 21stcentury:
• Decades-long struggle with macroeconomic stabilisation arising from unsustainable fiscal policies
• Pressure of demography
• Legacy of economic distortions
• Battering from external events, including earthquakes, floods and a continuing
longstanding low intensity conflict
• A large and loss-making public sector that impedes market development
• Low and declining productivity
• Heightened expectations of the population for a better life from a democratic
government.
Our growth experience of the last four decades has been volatile annual growth and
declining trend in long run growth patterns. In addition, productivity growth (a
measure of efficiency) has been low in comparison to our comparators. For the last
four years per-capita incomes have not increased in real terms while double-digit
inflation has prevailed.
Singapore's transformation into an economic powerhouse has attracted adulation from developed and developing economies alike. In this paper, I discuss policies that fuelled this growth, and also highlight some negative side-effects/criticisms.
Pakistan faces many challenges at the beginning of the second decade of the 21stcentury:
• Decades-long struggle with macroeconomic stabilisation arising from unsustainable fiscal policies
• Pressure of demography
• Legacy of economic distortions
• Battering from external events, including earthquakes, floods and a continuing
longstanding low intensity conflict
• A large and loss-making public sector that impedes market development
• Low and declining productivity
• Heightened expectations of the population for a better life from a democratic
government.
Our growth experience of the last four decades has been volatile annual growth and
declining trend in long run growth patterns. In addition, productivity growth (a
measure of efficiency) has been low in comparison to our comparators. For the last
four years per-capita incomes have not increased in real terms while double-digit
inflation has prevailed.
I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
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Facebook: arguni.hasnain
Venture Capital and the Finance of Innovation 2nd Edition Metrick Solutions M...ruwakyz
full download http://alibabadownload.com/product/venture-capital-and-the-finance-of-innovation-2nd-edition-metrick-solutions-manual/
Venture Capital and the Finance of Innovation 2nd Edition Metrick Solutions Manual
i'm not the exact author for this PPT ,but i can clime i'm added something more information on this. i hope this PPT will help you to acquire knowledge about MNC and its role in India in a simplest way.
US Recession 2008 Powerpoint Presentation SlidesSlideTeam
Be prepared for both natural and unnatural fluctuations in the economy by employing these US Recession 2008 PowerPoint Presentation Slides. Take assistance from these global depression PPT slides, to fully dissect the impact and financial crisis cost of the economic downturn. Exhibit the plan of action and the roadmap to safeguard your business through this content-specific economic-stagnation PowerPoint presentation. Analyze the factors that led to this economic recession and the key figures that aggravated the downfall using our professionally created universal slump PPT theme. Understand the strategies that helped the businesses who bought CDO survive by using our stagflation PPT layouts. Prepare a well-structured and in-sequence timeline of the leading events to keep track of the changing economic factors with the assistance of our global downturn PPT templates. This economic decline PPT deck will assist you in formulating a detailed and thoughtful business plan for your company. Download this global recession PPT deck and educate your audience about major economic events in an accessible way. https://bit.ly/3ccMmGl
It shows the Working, Functions and Members of BRICS, objectives, important Summit, effects, advantages, disadvantages, financial Contribution and The BRICS Bank.
Silicon Valley Bank’s annual Startup Outlook survey provides insight into how startups in China, the US and UK are feeling about the year ahead. The 2016 report finds that while startups across the globe are eternally optimistic, they are preparing for a new reality.
Learn more about the Startup Outlook Report and view the US and UK reports at www.svb.com/IEO.
Opportunities in China's Startup EcosystemZhenFund
The 2013 update from ZhenFund on the state of China's technology startup ecosystem. Last time we outlined the 3C's 2E's in understanding the differences between China and Silicon Valley. This year we focus on some of the positive trends we see developing in the startup ecosystem.
I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
Instagram : arguni.hasnain
Facebook: arguni.hasnain
Venture Capital and the Finance of Innovation 2nd Edition Metrick Solutions M...ruwakyz
full download http://alibabadownload.com/product/venture-capital-and-the-finance-of-innovation-2nd-edition-metrick-solutions-manual/
Venture Capital and the Finance of Innovation 2nd Edition Metrick Solutions Manual
i'm not the exact author for this PPT ,but i can clime i'm added something more information on this. i hope this PPT will help you to acquire knowledge about MNC and its role in India in a simplest way.
US Recession 2008 Powerpoint Presentation SlidesSlideTeam
Be prepared for both natural and unnatural fluctuations in the economy by employing these US Recession 2008 PowerPoint Presentation Slides. Take assistance from these global depression PPT slides, to fully dissect the impact and financial crisis cost of the economic downturn. Exhibit the plan of action and the roadmap to safeguard your business through this content-specific economic-stagnation PowerPoint presentation. Analyze the factors that led to this economic recession and the key figures that aggravated the downfall using our professionally created universal slump PPT theme. Understand the strategies that helped the businesses who bought CDO survive by using our stagflation PPT layouts. Prepare a well-structured and in-sequence timeline of the leading events to keep track of the changing economic factors with the assistance of our global downturn PPT templates. This economic decline PPT deck will assist you in formulating a detailed and thoughtful business plan for your company. Download this global recession PPT deck and educate your audience about major economic events in an accessible way. https://bit.ly/3ccMmGl
It shows the Working, Functions and Members of BRICS, objectives, important Summit, effects, advantages, disadvantages, financial Contribution and The BRICS Bank.
Silicon Valley Bank’s annual Startup Outlook survey provides insight into how startups in China, the US and UK are feeling about the year ahead. The 2016 report finds that while startups across the globe are eternally optimistic, they are preparing for a new reality.
Learn more about the Startup Outlook Report and view the US and UK reports at www.svb.com/IEO.
Opportunities in China's Startup EcosystemZhenFund
The 2013 update from ZhenFund on the state of China's technology startup ecosystem. Last time we outlined the 3C's 2E's in understanding the differences between China and Silicon Valley. This year we focus on some of the positive trends we see developing in the startup ecosystem.
Interested in starting a company in China? Here's a quick report on China through the lens of a Silicon Valley serial entrepreneur.
This 15 min guide by Bowei Gai aims to cover the basics of Chinese market size, opportunity, key players, competition and infrastructure.
Singapore startup ecosystem and entrepreneur toolbox - Aug 2015Arnaud Bonzom
Summary:
1. Startup Ecosystem
2. Dynamics and Trends
3. Government
4. Startups in Singapore
5. 100 People You Should Know
6. Networking
7. Hackathons & Startups Competitions
8. Incubators & Accelerators
9. Fund Raising
10. Coworking Spaces & Offices
11. Talents & Recruitment
12. Visa
13. Outsourcing
14. Thank you
15. Bonus
16. We Don't Have The Paypal Mafia, but...
The Case for Promoting Debit Cards: Why They Are Still a Growth ProductPaul McAdam
While debit cards have been commonly used to make consumer retail purchases for more than a decade, many financial institutions may have placed less priority on their debit card business in wake of regulatory changes. After rapid annual growth over the past decade, growth appears to have plateaued for many institutions in the last year or two. However, debit cards remain a profitable product to promote for smaller financial institutions as demonstrated by FIS research findings and supporting case studies with a community bank and credit union outlined in this research brief.
2012 National Governors Association Growing State Economies SummitJack Brittain
Describes the Utah Science, Technology, and Research (USTAR) Economic Development Initiative, the collaboration strategy with Utah's research universities, and the technology commercialization organization changes made by the University of Utah.
MASiV focuses on how the most successful software and internet companies use M&A to innovate, grow, and compete. Woodside Capital Partners brings together influential corporate development executives and business unit leaders with CEOs and venture capitalists to talk about current trends in M&A.
Please visit our online professional network and join our community of Automotive Social Media Marketing professionals at http://www.ADPsocialMarketing.com
Dr. Julie Schoenman’s presentation for the MILI Actuarial Seminar series, “A Detailed Look at US Health Care Spending,” covers recent trends in public and private spending as well as the implications of rising spending for the federal budget outlook and for consumers.
Dr. Julie Schoenman’s presentation for the MILI Actuarial Seminar series, “A Detailed Look at US Health Care Spending,” covers recent trends in public and private spending as well as the implications of rising spending for the federal budget outlook and for consumers.
Search and Society: Reimagining Information Access for Radical FuturesBhaskar Mitra
The field of Information retrieval (IR) is currently undergoing a transformative shift, at least partly due to the emerging applications of generative AI to information access. In this talk, we will deliberate on the sociotechnical implications of generative AI for information access. We will argue that there is both a critical necessity and an exciting opportunity for the IR community to re-center our research agendas on societal needs while dismantling the artificial separation between the work on fairness, accountability, transparency, and ethics in IR and the rest of IR research. Instead of adopting a reactionary strategy of trying to mitigate potential social harms from emerging technologies, the community should aim to proactively set the research agenda for the kinds of systems we should build inspired by diverse explicitly stated sociotechnical imaginaries. The sociotechnical imaginaries that underpin the design and development of information access technologies needs to be explicitly articulated, and we need to develop theories of change in context of these diverse perspectives. Our guiding future imaginaries must be informed by other academic fields, such as democratic theory and critical theory, and should be co-developed with social science scholars, legal scholars, civil rights and social justice activists, and artists, among others.
Neuro-symbolic is not enough, we need neuro-*semantic*Frank van Harmelen
Neuro-symbolic (NeSy) AI is on the rise. However, simply machine learning on just any symbolic structure is not sufficient to really harvest the gains of NeSy. These will only be gained when the symbolic structures have an actual semantics. I give an operational definition of semantics as “predictable inference”.
All of this illustrated with link prediction over knowledge graphs, but the argument is general.
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
Connector Corner: Automate dynamic content and events by pushing a buttonDianaGray10
Here is something new! In our next Connector Corner webinar, we will demonstrate how you can use a single workflow to:
Create a campaign using Mailchimp with merge tags/fields
Send an interactive Slack channel message (using buttons)
Have the message received by managers and peers along with a test email for review
But there’s more:
In a second workflow supporting the same use case, you’ll see:
Your campaign sent to target colleagues for approval
If the “Approve” button is clicked, a Jira/Zendesk ticket is created for the marketing design team
But—if the “Reject” button is pushed, colleagues will be alerted via Slack message
Join us to learn more about this new, human-in-the-loop capability, brought to you by Integration Service connectors.
And...
Speakers:
Akshay Agnihotri, Product Manager
Charlie Greenberg, Host
Let's dive deeper into the world of ODC! Ricardo Alves (OutSystems) will join us to tell all about the new Data Fabric. After that, Sezen de Bruijn (OutSystems) will get into the details on how to best design a sturdy architecture within ODC.
Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...UiPathCommunity
💥 Speed, accuracy, and scaling – discover the superpowers of GenAI in action with UiPath Document Understanding and Communications Mining™:
See how to accelerate model training and optimize model performance with active learning
Learn about the latest enhancements to out-of-the-box document processing – with little to no training required
Get an exclusive demo of the new family of UiPath LLMs – GenAI models specialized for processing different types of documents and messages
This is a hands-on session specifically designed for automation developers and AI enthusiasts seeking to enhance their knowledge in leveraging the latest intelligent document processing capabilities offered by UiPath.
Speakers:
👨🏫 Andras Palfi, Senior Product Manager, UiPath
👩🏫 Lenka Dulovicova, Product Program Manager, UiPath
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...Ramesh Iyer
In today's fast-changing business world, Companies that adapt and embrace new ideas often need help to keep up with the competition. However, fostering a culture of innovation takes much work. It takes vision, leadership and willingness to take risks in the right proportion. Sachin Dev Duggal, co-founder of Builder.ai, has perfected the art of this balance, creating a company culture where creativity and growth are nurtured at each stage.
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
Epistemic Interaction - tuning interfaces to provide information for AI supportAlan Dix
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
2. Startup culture exploding in China
“It’s dynamic, messy, and very different. But Silicon Valley aside, there’s
no better place on earth for tech right now.”
- Kai Lukoff, TechCrunch
“Every year another wave of “sea turtles”—Chinese who have studied or
worked abroad—returns home. Many have mixed with the world’s best
engineers at MIT and Stanford. Many have seen first-hand how Silicon
Valley works.”
- The Economist, March 2012
“China is home to nearly half a billion internet users, twice the online
population in the US. Already home to two of the world’s top five
internet firms by market valuation, China is giving birth to innovative
start-ups and powerhouse billion dollar firms in social networking,
games, media, and e-commerce. “
- Stanford GSB
2
3. VC Funding: USA
VC Landscape in the USA
$28.4 billionin VC funding
for 3,673deals
~1000 internet deals in
2011, representing $6.9bn in
funding
Highly active in
healthcare &
biotech
Source: PricewaterhouseCoopers/National Venture Capital Association MoneyTree™ Report
Data: Thomson Reuters 3
4. VC Funding: China
VC Landscape in China
$13 billionin VC funding for
1,500deals
~268 internet deals in
2011, representing $3.2bn in
funding
Industrial/energy focus,
with booming TMT sector
Source: Zero2IPO Database January 2012
www.zdbchina.com 4
5. Chinese startup scene at inflection
point
Comparison of Investments in China’s VC Market from 2003 - 2011
$14,000 1600
Inv ($mm) 1401
$12,000 # deals 1400
1200
$10,000
1000
$8,000 817
800
$6,000 607 11,725
600
477
440
$4,000
324 400
253 228 5,387
$2,000 177 4,210
3,247 200 Available
2,701 funding
1,269 1,178 1,777 growing
992
$0 0 rapidly
2003 2004 2005 2006 2007 2008 2009 2010 2011
2011: Early stage represented 25% of deals and 18% of amount invested
Source: Zero2IPO Research Center, December 2011
www.zdbchina.com 5
6. China’s 2011 internet investments
E-commerce particularly active….
$5,000 100
93
$4,500 Inv ($mm) 90
$4,000 # deals 80
$3,500 70
$3,000 60
$2,500 50
4,691
$2,000 40
29
$1,500 25 23 30
$1,000 15 20
11
$500 6 10
483 417 551
262 308
$0 29 0
E-commerce SNS Games Marketing Travel Video Others
~10 companies represented the bulk of the e-commerce investments
Source: Zero2IPO Research Center, December 2011
www.zdbchina.com 6
7. Startup challenges in China: “3C, 2E”
Copycat pervasiveness
C-level: Lack of experienced talent, especially CXO types. Battle
for engineering talent
Cultural difference – lower appetite for risk, intolerance of
failure, unwillingness to share, lack of serial entrepreneurs
Exit environment different: 69% exits IPOs (vs. ~90% M&A in US)
Ecosystem…
– Innovative environment, education, and mentorship
– Lack of services/infrastructure for China
– Not as many angels/VCs in China versus US (per capita)
7
8. Why so many copycats?
1 Growing available capital – more than doubled 2010-2011, in
some categories, investors have been willing to fund the
10th, 11th, 12th, etc. followers
2 Low hanging fruit – copying pure internet models is cheap and
easy, many teams believe that executing the fastest and grabbing
market share will lead to funding. E.g.
Groupons, Pinterests, Paths, Shopkicks.
3 Risk Aversion - Both domestic VC’s and foreign capital markets
are more receptive to Chinese start ups who have direct corollary
in the US. Copying a model is perceived as less risky.
8
9. VC’s willing to fund the 5000thGroupon
Lashou Raised $165M
1. Saw App store stats/read article on
TechCrunch
Dianping $100M 2. It worked in the U.S., low risk
3. No barrier to entry, costs little time and $
4. If I can move fast enough will be market
55tuan $200M leader, can easily get funding OR I’m
already a huge company and this takes
only a fraction of my resources to attempt
Meituan $50M
F Tuan $60M
According to Tuan800, an online portal charting group-buying
websites in China, the number of websites in the sector has
dropped to around 3,907 from its peak of 5,058 last September.
9
10. Cultural dynamics: Chinese less risk
tolerant
Lack of startup talent
b’c:
– Chinese cultural
attitude of risk
aversion…
– Inability to offer
competitive
salary, residency
permits (户口)
that allow access
to social
services, nor
additional perks
(福利)
– Stock options an
ineffective
method of
Source: TechRice
incentivizing 10
employees
15. Acquisition Psychology
US China
Your fear is that due to regulatory
Speed
Your fear is that if you don’t acquire rising complexities and barriers for M&A, while
star, your competitors will you are acquiring a company your
competitor will just copy it
IP has low perceived value, software
IP can be acquired as defensive or patents in China virtually non-
IP
offensive tactic, or for strategic purposes existent, penalties for patent violation non-
deterrents
In the war for talent, acquire companies to Most first-time start up teams are not
Talent
gain valuable developers, managers and perceived as valuable. Fear that acquired
entrepreneurs teams will quickly move on to next project.
15
16. But attitudes are changing
Internet giants holding on to major cash reserves, some have set aside
acquisition funds, testing the market with majority stake investments
Cash Reserves of Chinese Internet Companies
Name Cash ($USD)
NetEase (NASDAQ: NTES) 1.7 billion
Baidu (NASDAQ: BIDU) 1.6 billion
Alibaba (HKEX: 1688) 1.5 billion
Tencent(HKEX: 0700) 1.25 billion
Renren (NASDQ: RENN) 1.23 billion
Giant Interactive(NYSE: GA) 966 million
Sina (NASDAQ: SINA) 826 million
Sohu(NASDAQ: SOHU) 811million
Youku(NYSE: YOKU) 631million
cTrip(NASDAQ: CTRP) 611 million
Focus Media(NASDAQ: FMCN) 591 million “Baidu to invest $306 Million in
Shanda (NASDAQ: GAME) 589 million Qunar, Aptly opens travel portal”
Source: TechRice
16
17. Ecosystem Differences
US China
• Abundant knowledge • Knowledge guarded as
sharing, open source power, suspicion of copying
education preventing sharing
– Angel List model widely accepted – Angel List model still early
in Silicon Valley -- easy to share / – Emerging media and
browse ideas and deals. entrepreneurial network
• VC’s mentor and share
17
18. Ecosystem: Culture of Trust
“The culture of Silicon Valley
encourages people with diverse skills
and experiences to meet and trust each
other and take a chance together.”
Victor Hwang
Ecosystem of trust slowly
developing for investors
and
entrepreneurs in China.
18
19. Ecosystem: Infrastructure/Services, US
Major social platforms are
open, reduces marketing spend
Extensive services make startups
more efficient and cheaper to
operate
Trustworthy, scalable infrastructure
providers
“Startup costs have come down dramatically in the last 5-10 years, and online distribution
via Search, Social, Mobile platforms (aka Google, Facebook, Apple) have become mainstream
consumer marketing channels.” – Dave McClure, 500Startups
19
20. Ecosystem:
Infrastructure/Services, China
Major social platforms do not
completely share social graph, viral
growth more difficult, search
engines have monopoly on
acquisition channels available to
entrepreneurs, driving up costs
SaaS services still
underdeveloped, many trust issues
with data
Most infrastructure services offered
by large companies, startups do not
trust internet giants to host data
20
21. China’s Angel Funds
Est. 2006, Invest in people, Est. 2008, Incubate +
network effect, as-needed ideate, hands on, consumer
problem solving internet
• Yong Che
• ShijiJiayuan • Lashou
• RYB
• Light in the Box • VIPStore
Kindergarten
• Jumei • Ushi
Est. 2009, Incubate + Seed +
Early stage TMT investments
VC, large resource base, hands • Jumei • Centaur
on• PhotoWonder • Meilele • JIaThis
• Wonderpod • AppChina • Buding
• Tapas
• Buding
21
24. China’s Incubators
Dalian
Beijing
Shangha
i
Hangzho
u
Taipei
Shenzhen
24
25. China’s Government Programs
Mission
Raise profile of domestic entrepreneurship and incentivize potential
entrepreneurs
Benefits
• No string attached, funds, matching funds, cheaper office
space, registration help, tax benefits, etc. (specifics depend on the
program)
Risks
• Tedious, relationship driven application process
• Bureaucratic reporting requirements
• Separate departments responsible for recruiting versus
implementation, sometimes resulting in empty promises
• Outcomes often measured in quantity and not quality.
25
26. In sum…
Copycat pervasiveness
C-level: Lack of experienced talent, especially CXO types. Battle
for engineering talent
Cultural difference – lower appetite for risk, intolerance of
failure, unwillingness to share, lack of serial entrepreneurs
Exit environment different: 69% exits IPOs (vs. ~90% M&A in US)
Ecosystem…
– Innovative environment, education, and mentorship
– Lack of services/infrastructure for China
– Not as many angels/VCs in China versus US (per capita)
26
27. ZhenFund 2.0
• One of China’s leading angel funds
• ZhenFund believes in one principle
above all others: Integrity
• Founded by Xu Xiaoping in 2006
• Recent fund is a collaboration with
Sequoia Capital China
• Fund size: US $30MM fund (half RMB
and USD)
• Investment size: Up to $500k USD
• Over 80 angel investments in China
• www.zhenfund.com for more
• Contact: zhenfund@zhenfund.com
27
Editor's Notes
Internet was not included as a separate category in the US VC Investment data, accounting for the seeming discrepancy between Software (20% of the pie chart) and internet deals (about 24% of the total funding amount), it is likely included not only in software but in IT Services, media and entertainment, consumer, etc.
Note: some industry stats different depending on how “VC” is defined, for example:http://blogs.wsj.com/deals/2012/02/02/venture-capitalists-flock-to-china-leave-europe-behind/
Big Chinese internet giants discourage innovation by copying instead of acquiringSource: CIC
*Many Chinese entrepreneurs perceive acquisition as a strategy of last resort, synonymous with failure.
Note: Companies like Tencent are still conflicted internally as to whether adopt open platform strategy or contiCash Reserves of Chinese Internet Companiesnue to buy the best applications (particularly games) it sees on its platform, we may see contradictory behavior from them in the acquisition space. Sources:http://techrice.com/2011/10/02/chinas-internet-companies-ranked-by-cash-on-hand/http://www.techinasia.com/baidu-invests-306-million-in-qunar/
Other challenges:- In China is ICP registration approval can take 2-3 weeks, sties will be inactive during registration, so entrepreneurs need to plan in advance with multiple domain names so that can shift users to alternate site while registration for main site occurs- Beijing has some of the most expensive commercial real estate in the world, and internet is expensive in commercially zoned buildings meaning many teams work in small residential buildings, often having co-living work spaces for employees
Other Early Stage Funds:Chinese Founder’s Fund: http://www.cffpartners.com/portfolio.htmlDaD Asia:http://www.dad-asia.com/
A brief sketch of some of China’s emerging personalities in angel investing天使会: Influential Group of China’s Top Angels (Founded March 2011, http://angel.cyzone.cn/forum/2012/)包凡 BaoFan、蔡文胜CaiWensheng、何伯权 He Boquan、季琦JiQi、雷军 Lei Jun、李开复 Li Kaifu、吕谭平LvZhangping、倪正东 Ni Zhengdong、徐小平XuXiaoping、薛蛮子XueManzi、杨向阳 Yang Xiangyang、曾李青ZengLiqing
Incubators are becoming increasingly popular, Innovation Works has shown good early traction, many are very new.清华大学启迪创新研究员(Beijing)www.tri-tuspark.comInnovation Works (Beijing & Shanghai)Founder: Li Kaifuhttp://www.chuangxin.com/Cloud Valley (Beijing)Founder: Edward Tianhttp://www.cloud-valley.com/ChinAccelerator(Dalian)Founder: Cyril Ebersweilerhttp://chinaccelerator.com/HAXLR8R (Shenzhen and Bay Area)Founder: Cyril Ebersweilerhttp://www.haxlr8r.com/Tisiwi (Hangzhou)Founder: 庞小伟 Long Xiaoweiwww.tisiwi.comYuanfen Flow (Beijing)Founder: David Ben Kayhttp://yuanfenflow.org/incubator/portfolio/China Entrepreneurs Incubation Center (Beijing)Founder: Eric Schmidt (not the Google one)http://www.ce-online.cn/content/incubation-centeriStart(Shanghai)www.istartvc.comMap Source: http://hua.umf.maine.edu/Chinese/maps/chinese_map.gif