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VC, Innovation, Entrepreneurship in China Oct 2015

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Olivier Glauser

on 15 April 2016

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Transcript of VC, Innovation, Entrepreneurship in China Oct 2015

Olivier Glauser
Venture Capital, Entrepreneurship, and Innovation in China
Venture Capital by the Numbers
Entrepreneurship:
"the relentless pursuit of opportunities without regard to resources currently controlled"
China = 1.3 Billion Entrepreneurs?
Chinese Consumers
Eager to try out new things
Lots of them
Market reality check...
fast product release
+
many eager consumers
+
lots of entrepreneurs
=
copycats
&
intense competition
successful US Group Buying
Internet service
over 2,500 Chinese Group buying sites
Characteristics:
"the process of having original ideas that have value"
In Search of Chinese Technologies
Chinese Ancient Technology Inventions
Irrigation systems

Movable type print

Iron plow

Paper money

Powder
Modern China: The Perfect Environment
Thousands of new businesses in China
Highly entrepreneurial culture
World center for electronics & manufacturing
Chinese Success Stories of Technology Innovation?
B2B
B2C
C2C
= Copy 2 China
Creativity
Sir Ken Robinson
Just Blatant Copying?
Technology vs. Innovation
Business Model
Innovation
Product
Innovation
C2C + Adapting to China
Execution Risk
Market Risk
Technology Risk
Opportunity Cost of Technology Investment
Why take high-tech risks when can get
same return in 1/2 the time
in traditional industries
Risks in new Ventures:
Online Video Games
Rampant piracy in console game
+
Internet cafe
Free to play, pay for virtual items
Incredibly successful and profitable model copied worldwide
Why so few Technology Startups in China?
Venture Capital
People
Ideas
What is Venture Capital?
Long term
Active involvement
High-tech and life sciences
High Variance
an Asset Class
China comes out to the World
Sports Marketing & Rights
to connect China to the World
Ticketing
Sponsorship
Media
Thank You
A Few Lessons for Startups
China is a HYPER competitive market
Pick favorable industry
Laowai - play to your strength外
Adjust quickly products & business model

Raise money while you can - BULL Market

Choose investors wisely

Product Innovation?
Less is MORE
Frugal Innovation
Xiaomi mobile phone $80 USD

Mindray Portable Ultrasound
Product Licensing
2014 Europe
Not Just Simple Copies...
SPORTS IN CHINA
Fast growing market

Favorable government policy

Previously protected now liberalizing

Access to unique and exclusive content, properties
In Search of Technology Innovations
China Venture Capital Investments
Facebook
Wechat
$8.9
ROLE MODELS
Jack Ma - Alibaba
Lei Jun - Xiaomi, YY
From Silicon Valley...
to China...
Wechat Mobile Messaging
e-commerce
transfer person to person
taxi ordering
flights and travel ticket
movie tickets
utility bills
"red envelopes"
mutual funds and investment

2014 online payments:
$350 billion
Product extensions...
Battle of the Giants - BAT
$46 Billion
$148 Billion
$157 Billion
$50+ Billion
Alipay
Financial services
Ali Travel
Ali Sports
Alibaba Pictures
Movie Studios
QQ Messaging
Online video games
News portal
E-commerce
Wechat
Mobile messaging
Pinguin Pictures
Movie Studio
Diversification via acquisitions
e-commerce
joint venture
Urban mobility
$600 electrical scooter
CONCLUSIONS
Innovation in China:
business model vs. technology

Opportunities :

Solving China's challenges


Environment
Healthcare
What can Switerland offer:
- technology
- know-how
- Swiss brand equity
What can China offer:
- Market
- Capital
- Local partners
Capital Risque, Innovation, et Startup en Chine
Olivier Glauser
7 octobre, 2015
Excuse their "Chinglish..."
Excusez mon "franglais"
Full transcript