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Beyond Silicon Valley: Secret to Success of Chinese Startups
Shan LuFounding Partner & COO at LeaguerXShenzhen, China
GHR Forum, Seoul, KoreaNov. 6, 2018
1 CNY = 162 KRW
⼤大众创新 万众创业
Mass Entrepreneurship and Innovation
Chinese Premier, Li Keqiangwith Shenzhen Entrepreneurs in Nov. 2016
2018 GHR Forum, Seoul, Korea
• Guo Lie and his co-founders founded 脸萌/FaceU in 2014.• A Chinese version of Snapchat. • By Q1 2018, FaceU has 250 million installations and 85 million daily active users.• In March 2018, TOUTIAO announced to acquire FaceU at 300 million USD.
2018 GHR Forum, Seoul, Korea
• Tianchi Li (27) and Yue Sun (28) droped out of university to cofound CodeMao (编程猫) in 2015. • A early age programming education platform. • By Q2 2018, CodeMao has over 2 million member users. • In May 2018, CodeMao finished its 8th round of financing with 300 million CNY (50 billion KRW) with valuation
of 3 billion CNY (500 billion KRW).2018 GHR Forum, Seoul, Korea
Government Central, Provincial, Municipal
Reduce Unnecessary Intervention Funding and Subsidies
Endorsement of State Leaders
Capital 56k Registered VC/PE13 trillion CNY CUM
(2 trillion USD)Capital Markets
Shanghai/Shenzhen/HongKong
Environment Traditional Business Culture
Rapid Growth EconomyStable Society
Talent Pool
Market Size 1.4 billion population
Single largest Consumer MarketOne Unified Language
Growing Spending Power
Public Recognition Media ExposureEncouragement
Educational Efforts
Role Model Generations of Entrepreneur
Lenovo, Huawei, GREEAlibaba, Tencent, BaiduXiaomi, Meituan, DidiDJI, SenseTime, NIO
2018 GHR Forum, Seoul, Korea
HongKong-Guangdong-Macau Bridge World’s longest bridge (55km)
Beijing Int’l Airport World’s second busies airport
Zhoushan Cargo Port World’s largest capacity cargo port(700 million ton)
HighSpeed Railway System World’s largest and fastest railway system (28000 km & 300 km/hr)
Opportunities and Challenges
2018 GHR Forum, Seoul, Korea
Who should come?Products and services developed using CORE TECHNOLOGY:
• Applicable• Protectable• Validated
Technological areas:• Smart/Precision manufacturing• Clean tech and energy saving• Medical and health care• Future Mobility• Food safety• EdTech• …
Products and services developed using business model innovation ONLY:
• Easy to copy• Low entry barrier• Highly regulated industry
Applied industries:• Communication infrastructure • Information security• Social media• On-demand service or O2O• …
Who shouldn’t come?
Opportunities and Challenges
2018 GHR Forum, Seoul, Korea
• Anvajo, a German startup focusing on fluid testing technology. Received EC certificate in Oct. 2018. • Market entry strategy for China:
• Focusing on finding distribution channels• Doctor’s office and Individual Researcher VS. Community Medicare Station Network• Medical Device VS. Commercial Testing Equipment• Seek for Chinese investment
Case Study Foreign Company Expanding to China — Business Development
2018 GHR Forum, Seoul, Korea
It is never easy. How to prepare?
• Consult with IP attorney• Do market research and make a plan• Pay visits• Get in touch with the industry and capital• Find the right partner• Consider using Shenzhen/HongKong as an entry location• Build an operation team with the local talents
2018 GHR Forum, Seoul, Korea
Shan LuFounding Partner & COO at LeaguerX
Shenzhen, China
Mobile: +86-13751081389Email: [email protected]
Thank You!
2018 GHR Forum, Seoul, Korea