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A China Startup
Story
Mark Koester @markwkoester | www.markwk.com
Let’s Grow Startup
Communities in China
China:
1.3B Inhabitants in China - 19% of the global population
1st or 2nd largest economy in in the
world in terms of GDP
74.4% of Chinese are of working age
(aged 15-64)
#353# Chinese cities with a
population over 100,000.
Sources: The World Bank, OECD
Geographic/Macro
Key Chinese Characteristics
Major regional differences: People in different parts of China speak, act and
orient themselves differently, meriting more of a regional or continental
approach over purely national strategy.
Little Interpersonal Trust: Historically and contemporaneously Chinese have
very little trust between themselves. This creates challenges of legitimacy and
trust for any company or brand in China, especially a nonprofit
Active Startup / Business Culture: While influenced by Western elements,
China’s isolation and unique culture have created a divergent form of startup
culture, both more commercial and more opportunistic. The last few years have
seen a significant increase in the concept, events and importance of startups
and ventures in China. Also heavily funded ecosystem for ventures.
Stage 1:
Involved More. Let’s Help More First.
Stage 2:
Only Trust the Right Partners.
Startup Weekend Beijing Zhongguancun
Startup Weekend Hangzhou Zhejiang University
Startup Weekend Space: Shanghai Shanghai
Qingdao Startup Weekend Maker Haier M-Lab
Some Lessons Learned
Our Participants
Us!
Beware Individual Organizers
Some examples of Organizer Issues:
• Don’t Respect Brand or Community
• Stolen / Lost Money
• Copy Cats:
• Don’t Have a Long-Term Incentive
• MLM / Pyramid Scam / Cult
Strong Partners are key
White Paper: http://www.slideshare.net/cuevasm1/fostering-a-startup-and-innovation-ecosystem
Check: Ingredients of China’s Startup Ecosystem
strong but silo-ed strong and
increasingly more
hubs
Weak strong but not
necessarily well-
distributed
Fairly positive for
businesses
China
Startup Community in ChinaSome amazing talent, some great products and teams. Yet…
Fragile: In particular the startup scene is characterized by its fragility and lack
of collaboration, teamwork and open sharing, helping, etc.
Predatory: Like the general lack of trust in China, there are a number of
predatory elements in China startup scene, including fake investors, fake
mentors and special “training schools.”
Lack of Good Mentorship: China’s fresh entrepreneurs are especially lacking
in good mentorship. They attempt their own businesses with few local resources
to help them. Early stage investment is not reliable as well.
Community Programs
formerly
关于TechStars的:TS导师团队在全球运⾏行着18个加速器项⺫⽬目,超过550家公司通过TS的加速器计划,并已筹集了超过13亿美元的资⾦金。 TS⻛风险投资公司管理着近3亿美元的资⾦金,并提供种⼦子基⾦金和A轮投资。
Accelerator Programs
Thanks!
Mark Koester @markwkoester | www.markwk.com