Technopreneurship, Incubation and Angel Investments in ChinaChris Evdemon
An introduction to mainland China's current situation in terms of an early stage technology companies ecosystems - what's there and what's missing? What does a technopreneur need to do to prepare?
Technopreneurship and the Early Stage Ecosystem in China in 2013Chris Evdemon
20 slides about everything you should know on the state of the Chinese internet, the start-up community and resources available to entrepreneurs in China in 2013.
Provides insights and a ‘stepping stone’ to daring Singaporean and other foreign start-up companies with innovative products / services that want to get in the Chinese mainland market.
Angels, VCs and Fundraising in China 2010Chris Evdemon
This presentation explains the current status in China's early stage ecosystem, in terms of angel investors and venture capital. It also provides aspiring entrepreneurs with some advice on the local fundraising process.
Innovation Works (创新工场) is a business creation platform designed to create the next wave of leaders in the Chinese Internet with a keen focus on e-Commerce, Mobile Internet and Cloud Computing.
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.
Why Thailand is a Great Place to Build and Launch Your StartupArdent Capital
Deck by aCommerce CEO, Paul Srivorakul on Thailand's growing startup ecosystem and possible opportunities for entrepreneurs looking to enter Southeast Asia.
Technopreneurship, Incubation and Angel Investments in ChinaChris Evdemon
An introduction to mainland China's current situation in terms of an early stage technology companies ecosystems - what's there and what's missing? What does a technopreneur need to do to prepare?
Technopreneurship and the Early Stage Ecosystem in China in 2013Chris Evdemon
20 slides about everything you should know on the state of the Chinese internet, the start-up community and resources available to entrepreneurs in China in 2013.
Provides insights and a ‘stepping stone’ to daring Singaporean and other foreign start-up companies with innovative products / services that want to get in the Chinese mainland market.
Angels, VCs and Fundraising in China 2010Chris Evdemon
This presentation explains the current status in China's early stage ecosystem, in terms of angel investors and venture capital. It also provides aspiring entrepreneurs with some advice on the local fundraising process.
Innovation Works (创新工场) is a business creation platform designed to create the next wave of leaders in the Chinese Internet with a keen focus on e-Commerce, Mobile Internet and Cloud Computing.
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.
Why Thailand is a Great Place to Build and Launch Your StartupArdent Capital
Deck by aCommerce CEO, Paul Srivorakul on Thailand's growing startup ecosystem and possible opportunities for entrepreneurs looking to enter Southeast Asia.
Nigeria... Yes, it's big, ugly, dangerous, poor, too big, too hot, too rainy. And it's Africa's biggest country and economy, so the potential for startups and entrepreneurs is huge.
During our trip to Lagos to attend the Mobile West Africa 2014 conference, we listened to the speakers, met the key players of the local tech ecosystem, and were amazed, just like all the other emerging markets we explore, by the creativity, the will, and the startups we saw.
Take the trip with us to dive into Nigeria's startup scene. As usual, we love to look back in time to see what are the milestones explaining why the country is where it is today. Oddly enough, Nigeria has long been a very isolated country, with few exports else than natural resources.
Since Nollywood and the most creative movie industry of the continent, it's changing.
Despite the kilometric list of challenges the country is facing, a lot of spots and startups are to be discussed. Wecyclers, BudgIT are among the secret gems we discovered in Lagos, and for sure, there's more than that.
A crash course on Korean Startup Ecosystem based on a presentation given on Startup Korea Roundtable event held at D.CAMP on 28 April, 2015.(For any errors or correction request, please contact hahn.ryu@dcamp.kr. Special thanks to Startup Alliance and G3Partners.
Presentation for the "Geeks On a Plane" tour to Asia. The purpose of this presentation is to re-assess assumptions on innovation, cultural differences and arbitration opportunities. It also involves Underpants Gnomes, Mexican burritos and a gallery of deceased scientists.
Innovation is everywhere - Malaysia Innovation Ecosystem and Startup SceneInnovation is Everywhere
Malaysia is a rather small country in populous South-East Asia, with 29 million inhabitants, North of Singapore and south of Thailand, with a "peninsular" part and half the island of Borneo (shared with Indonesia).
Malaysia has been early to invest a lot in high technology and has a Silicon Valley of its own since 1997. Is infrastructure enough to create conditions for innovation?
In this presentation, we share the milestones of Malaysia as an innovation ecosystem, we identify their best practices (in particular the neat organization of the Global Entrepreneurship Summit in Kuala Lumpur) and assess their strengths and weaknesses.
Read more about us as we roam the world to explore the emerging markets startups scenes, from Iran to Chile, from China to Nigeria.
Reach us at: martin@innovationiseverywhere
Innovation is Everywhere
1. Introduction to the Startup Ecosystem
2. Startups in Hong Kong
3. Community builders
4. Government support & Universities
5. Incubator and Accelerator Programs
6. Competitions, events
7. Talent's corner
8. Co-working spaces
9. Venture Capital
10. Resources
11. References
2017 HONG KONG STARTUP ECOSYSTEM TOOLBOX V2.0 WHub
W Hub has teamed up with the key players of the startup scene to create the ultimate Hong Kong Startup Ecosystem Toolbox.
Key Findings:
- Why choose Hong Kong to startup
- Exponential growth with 2,500+ startups
- Growing, diverse ecosystem (you would be surprised)
- Gap in funding
- Recent exits, IPO and money raised
- Community builders (62)
- Government support, universities, co-working spaces, incubators and accelerators
- Resources (talent corner, competitions and events)
Global Technology Trends & Top Ten Startup Hubs 2016Bernard Moon
Update report that provides an overview of general technology trends, global venture capital trends, and startup trends around the world. Snapshots of the top 10 startup hubs in the world: Silicon Valley, NYC, London, Stockholm, Berlin, Tel Aviv, Beijing, Seoul, Boston, and Los Angeles.
Just 15 years ago, China was home to 200 foreign-run R&D centers. Today, multinationals operate more than 1,500 innovation facilities throughout the country — and this number is poised to increase 20 percent by 2018. But this trend involves more than sheer presence. Over the last 10 years, we’ve witnessed a dynamic shift in what motivates multinational corporations (MNCs) to set up an innovation shop in China. For many, what began as low-cost support for local operations became an effort to adapt technologies to cater to local market demand. Now, some multinationals are changing course yet again: Having recognized China’s rise as a global innovation leader, they are tapping into the country’s thriving science and technology knowledge base to pursue fundamental research.
Dr. Kai-Fu Lee's Talk on Innovation with Chinese characteristics. Videos
(Part 1) https://freeflowapp.com/v/et97qv (Part 2) https://freeflowapp.com/v/5uyqyg
US venture arm, www.ideabulb.vc
China venture arm, www.chuangxin.com
More on Kai-Fu Lee,
http://en.wikipedia.org/wiki/Kai-Fu_Lee
Nigeria... Yes, it's big, ugly, dangerous, poor, too big, too hot, too rainy. And it's Africa's biggest country and economy, so the potential for startups and entrepreneurs is huge.
During our trip to Lagos to attend the Mobile West Africa 2014 conference, we listened to the speakers, met the key players of the local tech ecosystem, and were amazed, just like all the other emerging markets we explore, by the creativity, the will, and the startups we saw.
Take the trip with us to dive into Nigeria's startup scene. As usual, we love to look back in time to see what are the milestones explaining why the country is where it is today. Oddly enough, Nigeria has long been a very isolated country, with few exports else than natural resources.
Since Nollywood and the most creative movie industry of the continent, it's changing.
Despite the kilometric list of challenges the country is facing, a lot of spots and startups are to be discussed. Wecyclers, BudgIT are among the secret gems we discovered in Lagos, and for sure, there's more than that.
A crash course on Korean Startup Ecosystem based on a presentation given on Startup Korea Roundtable event held at D.CAMP on 28 April, 2015.(For any errors or correction request, please contact hahn.ryu@dcamp.kr. Special thanks to Startup Alliance and G3Partners.
Presentation for the "Geeks On a Plane" tour to Asia. The purpose of this presentation is to re-assess assumptions on innovation, cultural differences and arbitration opportunities. It also involves Underpants Gnomes, Mexican burritos and a gallery of deceased scientists.
Innovation is everywhere - Malaysia Innovation Ecosystem and Startup SceneInnovation is Everywhere
Malaysia is a rather small country in populous South-East Asia, with 29 million inhabitants, North of Singapore and south of Thailand, with a "peninsular" part and half the island of Borneo (shared with Indonesia).
Malaysia has been early to invest a lot in high technology and has a Silicon Valley of its own since 1997. Is infrastructure enough to create conditions for innovation?
In this presentation, we share the milestones of Malaysia as an innovation ecosystem, we identify their best practices (in particular the neat organization of the Global Entrepreneurship Summit in Kuala Lumpur) and assess their strengths and weaknesses.
Read more about us as we roam the world to explore the emerging markets startups scenes, from Iran to Chile, from China to Nigeria.
Reach us at: martin@innovationiseverywhere
Innovation is Everywhere
1. Introduction to the Startup Ecosystem
2. Startups in Hong Kong
3. Community builders
4. Government support & Universities
5. Incubator and Accelerator Programs
6. Competitions, events
7. Talent's corner
8. Co-working spaces
9. Venture Capital
10. Resources
11. References
2017 HONG KONG STARTUP ECOSYSTEM TOOLBOX V2.0 WHub
W Hub has teamed up with the key players of the startup scene to create the ultimate Hong Kong Startup Ecosystem Toolbox.
Key Findings:
- Why choose Hong Kong to startup
- Exponential growth with 2,500+ startups
- Growing, diverse ecosystem (you would be surprised)
- Gap in funding
- Recent exits, IPO and money raised
- Community builders (62)
- Government support, universities, co-working spaces, incubators and accelerators
- Resources (talent corner, competitions and events)
Global Technology Trends & Top Ten Startup Hubs 2016Bernard Moon
Update report that provides an overview of general technology trends, global venture capital trends, and startup trends around the world. Snapshots of the top 10 startup hubs in the world: Silicon Valley, NYC, London, Stockholm, Berlin, Tel Aviv, Beijing, Seoul, Boston, and Los Angeles.
Just 15 years ago, China was home to 200 foreign-run R&D centers. Today, multinationals operate more than 1,500 innovation facilities throughout the country — and this number is poised to increase 20 percent by 2018. But this trend involves more than sheer presence. Over the last 10 years, we’ve witnessed a dynamic shift in what motivates multinational corporations (MNCs) to set up an innovation shop in China. For many, what began as low-cost support for local operations became an effort to adapt technologies to cater to local market demand. Now, some multinationals are changing course yet again: Having recognized China’s rise as a global innovation leader, they are tapping into the country’s thriving science and technology knowledge base to pursue fundamental research.
Dr. Kai-Fu Lee's Talk on Innovation with Chinese characteristics. Videos
(Part 1) https://freeflowapp.com/v/et97qv (Part 2) https://freeflowapp.com/v/5uyqyg
US venture arm, www.ideabulb.vc
China venture arm, www.chuangxin.com
More on Kai-Fu Lee,
http://en.wikipedia.org/wiki/Kai-Fu_Lee
Presentation given to Dutch executives with the leadership training company De Baak in Beijing on March 2009. It's our first focused on "Chinese innovation", with our soon-to-be-famous "5C" (tm) and "LABL" (tm) models of Chinese innovation and what to do with it. A few examples of mobile and Internet services are given for illustration. Explaining why we selected them and what to do with them is the core of our business.
Technology and Business Innovation in China: Presentation and Discussion at S...Mark Mueller-Eberstein
Technology and Business Innovation in China: Presentation and Discussion at Seattle University with the Graduate MBA students on opportunities and challenges for entrepreneurs, investors, organizations, education and society.
Examples from Alibaba, Tencent, ChinaValue, Xiaomi, Huawei, Start-ups, Yuanfen.
Experiences from Beijing, Singapore, Shanghai, Shenzhen, Hangzhou, Suzhou, Hong Kong from TEDx speaker Professor Mark Mueller-Eberstein
AI Happy Hour - Dr. Kai-Fu Lee - The Golden age of Artificial IntelligenceRicky Wong
New breakthroughs in machine learning has created two set of opportunities in artificial intelligence.
On one hand, we're seeing a tidal wave of startups in fields such as robotics, autonomous vehicles, image recognition, and speech / NLP. Separately, we're also finding AI startups leveraging big-data and solving problems in traditional, but data rich, industries (e.g. finance, retail, medical, education, etc..) and in variety of use-cases (e.g. sales, marketing, and productivity).
At Sinovation Ventures, we see China as a great platform for Artificial Intelligence to take off. China has the unique set of conditions such as large amount of untapped data and deep talent pool of engineers and scientists. As a global investment firm, we see many opportunities for US and China to partner together in the golden age of artificial intelligence.
How come a fishing village can turn in 30 years into one of China's most innovative and productive city? Who are the people making Shenzhen something more than just a huge factory? What startups emerge from a city which mixes a lot of immigrants, an entrepreneurial mindset, and a fondness for shanzhai, China's creative piracy and geekery?
We've been attending the Shenzhen Maker Faire in April 2014, and were amazed by both the biggest exhibition of tinkerers and hardware geeks, and the quality of speakers in the conference.
We've also spend a day with the teams from HAXLR8R, a proeminent hardware startup accelerator based both in Shenzhen and San Francisco.
Follow our journey and discover how the startup scene of Shenzhen has been progressively built, what makes it different from Shanghai or Beijing, meet its key people and events, and do remember the name of this city as it's evolving into an epicenter of tech innovation, both for hardware startup and life sciences with BGI.
Understand
1. the China E market and how to use social / digital marketing to tap into the market.
2. the habits and trends of the modern Chinese consumer.
3. the strategy of Baidu, Alibaba and Tencent.
4. the evolution of E commerce in China .
5. the future of China AI and 5G market .
A presentation from Imagination's Digital Insight team on online behaviours, interests, web properties and general digital activities and attitudes in China. A high level overview.
China Digital Life - Digital Marketing ecosystem in world's most dynamic digi...Nagendra Singh
The story has been told from the perspective of a 27-year old Chinese and his activities through the day. This is a result of my personal experience and research while working in China. Goes without saying that it's just a glimpse of world's biggest and most exciting digital market.
Looks at digimarketing (digital marketing) from the point of view of the opportunity it offers; the distinctive qualities of digital media; and the digimarketing difference. Introducing the new 4 P's of digimarketing: Permission, Participation, Profile, and Personalization
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
Technopreneurship and the Early Stage Ecosystem in China 2011
1. Technopreneurship and theEarly Stage Ecosystem in China Chris Evdemon (易可睿) General Manager – Incubation Programs, Innovation Works Principal, Innovation Works Development Fund (IWDF) Director, Business Angels Network South-East Asia (BANSEA) Founding Member, China Business Angels Network (CBAN) April 2011 1
2. What does a start-up entrepreneur need? An early stage Ecosystem Market … A big enough market with major growth opportunities. Entrepreneurship … Talent, drive, skills and ideas – all widely available. Incubation … Real ‘turnkey’ services for start-ups. Early Stage Investors… A community of angel investors and early stage VCs. Innovation … A culture of innovation. Ecosystem
3.
4. Chinese Economy: a unique and amazing story From any current perspective, China has an awe-inspiring future ahead of it. In the next 2 decades it will surpass the U.S., attaining an economic dimension unparalleled in history. Growth will be based on its massive new and richer generation of Chinese, emerging from the country’s ever-growing urban areas. Unlike Japan, China is likely to fulfill its enormous expectations. Macro
6. Retail sales (i.e. consumerism) are booming … … in the midst of the financial crisis! Macro
7.
8. Most consumers do not care about brands, although more and more people are starting to have brand awareness.
9. The consumer market is still very fragmentedfor most product / service categories.
10. Top tier cities (e.g. Beijing, Shanghai, etc.) are already becoming expensive and very competitive. The ‘new’ potential is in 2nd and 3rd tier cities.
11. Emerging middle class has only just started to pay attention to lifestyle, such as e.g. diet, fitness, beauty, travelling, etc.
12. Women have recently started to buy accessories, cosmetics, fancy lingerie, etc. in order to enhance their sense of well-being and self-respect.
13. “Newly rich” social class phenomena.But there is a unique set of challenges … Macro *
14.
15. China’s New Digital Generation – a social phenomenon “One Child Policy” (80后 and 90后 generations), today in the age range of 12 - 31 years, are ‘obsessed’ with the internet, extremely curious but still somewhat suspicious of most online content. Beneficiaries of the “Reform” and opening up policies, today in the age range of 32-41 years of age, easily grasp the opportunities provided by the internet and enjoy its diversity. The age range of 41+ years old typically do not adapt to digital services easily and usually just use simple mobile voice services, SMS and some news services. In China, there are not many alternatives for affordable entertainment. The media / music / cinema industries are still in their infancy and tightly controlled. Internet is thus filling a gap. A distinct Chinese Internet pop culture has been on the rise and is very influential. Macro
16. Sina $5.63B Sohu $3.18B NetEase $5.87B Tencent $50.08B Baidu $42.60B Shanda $1.98B Giant $1.71B Perfect World $1.12B Mobile + E-Commerce:Catalysts for the third wave of the Chinese Internet Web portals in late 1990’s created the first boom. Technology companies Baidu, Tencent, Shanda rose from the ashes of dot-com bust. 2nd Wave We anticipate an explosive third wave propelled by Mobile Internet, E-commerce, Online Gaming and Cloud Computing. 1st Wave 3rd Wave Valuation of Listed Companies (as of March 16th, 2011) Mature Market Major Opportunities MOBILE INTERNET E-COMMERCE ONLINE GAMING (casual, mobile, social) CLOUD COMPUTING Internet
34. Amazing stories of Chinese Internet madness … Tencentvs. Qihoo 360 vs. Kaixin.com Kaixin001.com Internet
35. Differences in User Demographics Average age: U.S. 42 Average age: China 25 % new users each year: China 25%, U.S. 3% Internet
36. Usage Differences between China & U.S. Different Usage of Internet between China & U.S. in 2003 Different Usage of Internet between China & U.S. in 2010 Internet Data Source: CNNIC, iResearch and www.pewinternet.org
37. How is the Chinese Internet different? Entertainment centric and content-heavy Music is nearly all unlicensed Video is heavily (but not richly) monetized P2P is extremely popular SNS transition from copycat to localized Blogging rate is much higher than U.S. Mobile will be the explosive growth-catalyst E-commerce is ready to shift from C2C to B2C Gaming MMORPG flat, casual / social growing Cloud computing will create a software industry Chinese Users American Users 10 sec. spent on result page 30-60 sec. spent on result page Internet
42. The Chinese Internet phenomena … Curious users hungry to explore (less goal-oriented). Entertainment-centric & information-overloaded. Users eager to have a voice for self-expression. Internet is creating best sellers, cultural icons, and brands. No up-front payments; pay-per-use and ad-supported-piracy. “Do-it-all” Tencentand lack of anti-trust anger competitors. MMORPG: virtual fame and glory can be bought. 90后: a lonely generation with less social development. Internet amplifies “angry young” and their nationalism. Sichuan earthquake awakened sense of social responsibility. Self-righteous citizens providing check and balance. Weibo: exposing corruption, enabling civilian ‘paparazzi’. Internet
43. “Internet is like a mirror” … “The internet is like a mirror, reflecting our society. If we do not like what we see in that mirror the problem is not to fix the mirror, we have to fix society.” Vint Cerf Internet
44. E-Commerce obstacles overcome by Chinese ingenuity! Solutions Problems Escrow Payment Very Few Credit Cards Bicycle Delivery Lack of Trust Cash on Delivery E-Commerce
52. User Pre-purchase search Decision influence Shopping Payment Logistics & Service 1 2 3 4 5 Platform 6 China E-Commerce Analysis & Opportunities Billion-dollar companies will emerge from in 3, 4, 5; however, low-margin & transaction-oriented. Bank, carrier, escrow Customer Service Microblog& communities Productsearch, yelp B2B/B2C/C2C 1, 2, 6 best shows strength of Internet above and most suitable for technology e-commerce companies. B2C companies need tools & platforms to build site & acquire customers (enabling traditional players). Higher-margin opportunities may emerge in social/entertainment shopping & new Internet brands. Value proposition needs to be clear: Amazon: 1-6 360buy: 3, 4, 5 Dianping: 1, 2 Taobao: 3, 4, 6 SNS and crowd-sourcing sites that are not copiable but monetizable, as advertising value increases. O2O (online to offline) model is a good fit for China, though just copying from US won’t work. SaaS, cloud E-Commerce
60. Yet users are younger (75% of Mobile Internet users are 27 or under) and not rich;
61. Apps should focus on entertainment (killing time) not productivity (saving time).Mobile
62. Mobile Internetrevealing evolving digital divide … Aspiring young white collar, students Hi-endwhite collar 3-Low Users:blue collar, military, migrant workers Rely 100% on Phone No Internet Knowledge Phone = Cheap Entertainment Victim to Fraud Phone + PC Internet Savvy Entertainment/Social Cost Sensitive Phone augments PC Top app is Email Productivity-focused Cost is no issue Mobile
63. Mobile Internet User Segmentation 83% of the users are younger than 30 Observations 2000 RMB is important price barrier High-end users are a small minority. Must focus on aspiring young users before 3-low users. Aspiring young users are existing Internet users. Young users require lower prices. Mobile
64. But what do early-adopter young users want? Top 10 Desired Apps Top 5 Android Apps Smart Dialer Web Search Localized SMS Email IM (QQ, MSN) Browser Music Player Maps Games Youtube E-book Reader Camera & Photo News & Micro-blogging Video SNS (Renren, Kaixin) Mobile
65. Strategic Projections for Mobile Internet Chinese Mobile Internet will evolve the same way as the Chinese Internet Mobile ecosystem will follow the PC’s horizontal integration pattern. Basic Tools Browser, security, photos, etc. Entertainment IM, SNS, Music, Games, Video. Advanced Apps E-Commerce, advertising, LBS, search,email. ¥5000 Minimal carrier subsidies; but Android devices will drop under 1000 RMB in 2011. High 3G prices will lead to be “rich-device + minimal bandwidth”. For next few years, entertainment applications will dominate Chinese mobile Internet. AppStore/Marketplace model will become primarily freemium; no up-front payment. ¥1000 Mobile developer community will have many opportunities (AppStore, ads, export, etc.). Mobile
66. Today Chinese entrepreneurship is in transition. Few home-grown role models although gradually a new class of serial entrepreneurs is emerging. Entrepreneurship is still a new concept for local graduates – there is peer and family pressure towards ‘secure’ corporate jobs. Older generation is risk averse but grass-roots entrepreneurship from young people in their late 20s and early 30s is rapidly improving, especially in the TMT sector. A number of Chinese entrepreneurs dubbed “returnees” (from Australia, Europe and especially the U.S.) with prior overseas entrepreneurial experiences are coming back to start their own companies. Entrepreneurship in China Entrepreneurship
85. Setting up a legal entity for a start-up If you want to receive offshore (i.e. USD) funds, there are 3 forms of business types available: Joint venture with a Chinese partner (JVC) Equity Joint Venture Contractual Cooperative Joint Venture Wholly Foreign-Owned Enterprise (WFOE) Representative Office (RO) Entrepreneurship
86. Setting up a legal entity for a start-up Before incorporating, any entrepreneur should remember: Changing the type of business organization is long and costly Once the venture is declared to make business in a specific industry sector, very difficult to change There are always grey areas, and the regulations are being updated on a weekly basis. Law enforcement in China is weak in many areas, including contract law, IP law, etc. Foreign investment in certain sectors is subject to industry-specific regulations. Telecommunications: the stake of the foreign investors in the telecom enterprise can not be more than 49%. Insurance: property and personal insurance are possible but companies need permit to engage in large commercial risk insurance, all-inclusive policy insurance, etc. However China is compelled by WTO to change its legislation in protected sectors. After being issued a Corporate Legal Person Business License, a foreign-invested enterprise (FIE) must apply for registration of foreign exchange with the State Administration of Foreign Exchange (SAFE) at the place of its business registration. Chinese entrepreneurs also need to go through SAFE registration for their shares in offshore vehicles (e.g. Cayman Islands or BVI). Entrepreneurship
87. Investment CAYMAN / BVI HONG KONG OFFSHORE IN CHINA Contract Licenses LOCAL COMPANY WFOE Transfer Pricing Legal complexity – the “SINA” structure Entrepreneurship
88. Zhong Guan Cun(in Beijing’s northwest corner) is still China’s best approach to a Silicon Valley ecosystem. Clear priority to nurture hi-tech innovation start-ups and create an early stage investment environment. Tax incentives’ scheme. Surrounded by about 50 universities incl. Tsinghua, Beida and Beihang, over 1,000 research institutes, a software park, 150 incubators and >10,000 hi-tech start-ups. “Real-estate minded” incubation, few added value services, no service oriented mentality and lack of expertise / skills required. Many “incubators” but no real incubation … Incubation
89. IW’s ecosystem … Incubator + Fund IWINCUBATION IWDFFUND Jump-Start Acceleration Angel Series A EIR Incubation
90. In 1.5 years … 100,000 CVs 400 project team members 40 professionals Exceptional Mentors & Investors 26 projects 14 Incubation 8 Angel Round 4 Series A Incubation
91. IW’s Mobile Internet Strategy Cloud Services Phone UIFramework iTunes-likeClient Mobile Product Portfolio Market Place Partner with ”Chiwan” companies to grow ecosystem & drive down cost Develop localized UI and applications targeting young users Games Platform Use proven Internet business models, but fit in with carriers Bet on Android, but not Google experience Develop ultra-easy-to-use cloud + client apps that conserve bandwidth Incubation
92. What IW incubated in 2010 … Talked to over 1,000 start-ups Incubated 23companies Gaming (8) Mobile (8) Wandoujia / Tongbu-(iTunes) Yingyonghui- (Getjar) Tapas Umeng - (Flurry + AdMob) PhotoWonder- (Instagram) Feihong-(Kik) Guoguo* - (Qik) Xingyun- (Zynga) Leiyoo Doodle - (Ngmoco) X6 / X7 (project codenames) Black Bubble* Fengkuangbuluo* Pada* Buding- (Foursquare + Evite) Looa Meishidaren*- (Foodspotting) Nada*- (Plancast) Diandian – (Tumblr) Zhihu – (Quora) Junren* SNS (3) E-Commerce (4) (In brackets are products recognizable in other parts of the world, used solely for the purpose of easy reference ) Incubation * Jump-Start Program
114. Among the top 20 client software companies in China, Zhou's portfolio has 4.
115.
116. 2008 was a historical high, 2009 a logical correction, 2010 was a real test but … passed with flying colours!China’s VC market is growing steadily … Early Stage
117.
118. The frenzied domestic IPO activity and the resulting super-high ROIs diverted even more capital into domestic VC/PE market.
119. China's rapid economic recovery in 2010 led to excess liquidity in domestic capital markets, as a result, both oversupplied public money and private capital went into VC/PE funds.Early Stage
120.
121. There is a major shift from offshore USD funds to domestic RMB funds, from a 70% - 30% split in 2008 to 30% - 70% in 2009. The trend is even more acute in 2010. Early Stage
122. The new name of the game is … RMB funds! One of major trends in China's RMB fund market during 2010 was the stepped-up efforts by foreign VC/PE institutions to launch RMB funds. The Blackstone Group completed its fundraising for a RMB5 billion, IDG Capital launched a RMB 3.5 billion fund, and the Carlyle Group completed its first closing for a RMB 2.4 billion fund. In addition, many institutions, including KPCB China, Sequoia Capital China, and QimingVenture Partners have also completed their fundraisings for their RMB funds in 2010. CLSA Asia-Pacific Markets, in teamwork with Shanghai Guosheng Group, initiated the RMB 10 billion Guosheng CLSA Industry Investment Fund, TPG launched two RMB funds respectively in Shanghai and Chongqing, aiming to raise RMB 5 billion each, and UBS, in collaboration with the Municipal Government of Beijing, is also preparing to establish a RMB fund. Early Stage
123. Why RMB funds? The ChiNext(launched in 2009) created an effective exit option for RMB funds. For as long as investors are being subject to FX capital account controls, RMB funds will be a preferred way for most institutions operating in the Chinese capital markets. Strong support from the Chinese government is a contributing factor. For example, Beijing, Shanghai and Chongqing, among others, have rolled out their preferential policies in taxation and FX to foreign RMB funds. And the pilot program for establishment of foreign invested equity investment firms recently initiated in Shanghai also carved out more fundraising channels for foreign RMB funds. BUT: Legal issues – a lot of regulations (new, neither mature nor tested). Existing funds – predominantly USD and still preferring NYSE / NASDAQ exit. Local governments increasingly act as a direct investor and/or a LP – what are the implications? Early Stage
126. Beijing (especially for TMT) is the place to be.… but where is truly Early Stage?! Early Stage
127. Early Stage VCs in China The VC in industry in China is at its infancy. Vast majority of VCs go for the ‘low hanging fruit’, i.e. later stage, lower risk, higher transparency, pre-IPO type of investments. Good and experienced VC investment managers are a scarce resource in China. Good and experienced EARLY STAGEVC investment managers are a VERY scarce resource in China. Good and experienced EARLY STAGE VC investment managers that: have previous own start-up / operational experience (i.e. ex-founders / entrepreneurs), and truly work ‘hands-on’ with the team(s) to add value, at least on a weekly basis are a VERY VERY scarce resource in China. On a more positive note, in the past couple of years there is rapid accumulation of top talent in the Chinese VC industry; also overcrowding at the growth stage is bound to bring some people back to early stage. Early Stage
129. Exits: 2010 was a record year for VC-backed IPOs … Early Stage
130.
131. However, the stock markets in Shanghai and in Shenzhen continue to rapidly improveespecially in terms of shortening post-IPO lock up, transparency, etc.
132. Government also launched ChiNext (创业板), termed as “China’s NASDAQ”, but profitability requirements do not make it very suitable for TMT companies.
133. Shenzhen’s SME board has already proved to be an exit option for VC investment in China for potentially more than 10x returns in a period of 3-4 years.
134. But in NYSE / NASDAQ not everything is ‘rosy’ (RenRen, Qihoo 360, Dangdang, Youku, etc.).Rapidly improving local IPO market … Early Stage
135. … but where is my trade sale exit?! Negligible domestic and cross-border M&A activity takes away one of the most important exit routes for early stage technology investors. Early Stage
136. What is innovation? Product (R&D), or Process, or Business Model? Is the market mature enough for innovation? Have the basic Chinese consumer needs been already fulfilled? More than a government policy or budget. Innovation is about culture and education. In China innovation is still predominantly university and government driven. Step-by-step process. It took generations for other countries; China will do it faster but it will still take time. C2C (Copy-to-China) Micro-innovations Innovation. Is China innovating? Innovation
140. 177 days to the first 10 million, which achieved April 28, 2010.
141. Since then the site has reached 100 million registered users it continues to grow at a breakneck pace
142. SinaWeibo’s main competitor TencentWeibo claims to have reached 100 million users a month earlier but quality / traffic are considerably lower.Innovation