Chinaccelerator 10x10 Spring 2014 Shanghai
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Transcript of Chinaccelerator 10x10 Spring 2014 Shanghai
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10X10 Shanghai March 15th, 2014
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Sina Weibo: @ 中国加速
Follow Along Live!
Twitter: @chinaccelerator
WeChat (Weixin):
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Real Quick - What is Chinaccelerator?
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Because we promote and nurture hi-tech entrepreneurship in China through a MENTORSHIP driven ecosystem, which
returns benefits to all participants.
We Are A World Class Launchpad
Founders
Executive Board
Mentors
And we’re the best. Why?
MENTORSHIP is what MATTERS
Investors
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80+ MENTORSThe Lifeblood of What We Do
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Proof in the Pudding
After ‘graduating’ in Oct 2011
OrderWithMe won TechCrunch Disrupt
in Nov 2011 and raised $3mm in
funding Others that are still killing it:
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Cyril Ebersweiler: Visionary punk who founded Chinaccelerator and H.axlr8r; mentor at Techstars & 500Startups; Investor / advisor at LEAP MOTION and 80+ startupshttp://www.crunchbase.com/person/cyril-ebersweilerhttps://angel.co/cyril
Sean O’Sullivan: Creator of things and eternal entrepreneur x investor x geek
Founder of Mapinfo, Avego, SOSventuresDragon at Dragon’s Den
Co-coined the term ‘cloud computing’http://www.crunchbase.com/person/sean-osullivan-2
Who is behind this madness?
Todd Embley: Director at Chinaccelerator. Mentor like a hockey coach. Opinionated philosoraptor. Technology, marketing, coconuts, fantasy sports - my passions. Entrephilosophy is everything.https://angel.co/todd-embley
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• Chinaccelerator helps kickstart early-stage entrepreneurs into success!
• We offer extensive support for startups including seed funding, mentorship, networking; the most important fuel for startups to grow and succeed
• The fund will target exclusively startups focusing on web, mobile, AR, SaaS and other emerging technologies
• DO MORE FASTER - curate a peer-to-peer working environment and personally facilitate access and introductions to over 70 amazing mentors from around the world
• Help founders understand proper “entrephilosophy” and get educated on the finer points of financing - raising money & the terminology therein
• How to PITCH LIKE A PRO
PROPULSION
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• A 3-month call to apply. Applications are vetted on a rolling basis by committee.
• 6% equity is returned for acceptance into the program (including all provisions therein) and $16k USD
• We also cover the costs of out-of-town mentors, the ‘Geeks on a Train’ tour and Demo Day, and provide a “home” all expenses paid
We are Looking for POP: • Amazing teams (People)• Globally innovative ideas (Opportunity)• Disruptive biz models (Path)
THE INTAKE
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by entrepreneurs,for entrepreneurs
Why this works!!!
mentorship+
environment
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Member of the Global Accelerator Network
• 6 Countries• 63 Cities• 50 Accelerators• ONE standard for entrepreneurial excellence
“Look no further than within a GAN accelerator. Beside the fact that they’ve been vetted according toGAN standards, our accelerators follow industry best practices and are supported by experienced mentors working alongside each of their founders.” - http://gan.co/join-us
PERKS•$60k in Microsoft Azure Credits
•$10k in PayPal Transaction Credits
•$3k in HR Support from Premier Employer Services
•$12k in Softlayer Hosting Services
•$6k in Rackspace Hosting Credits
•$1k in Amazon Web Services
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OUR OLD DALIAN HOME
The view
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Now in Shanghai!
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Demo Days!
2010
2011
2012
2013
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1 - Arman Zand (Silicon Valley Bank)2 - Stephane Monsallier (System in Motion)3 - Alok Somani (Ekeliu)4 - Bob Zheng (People Squared)5 - Brian Tam (Let’s Make Great)6 - Stephen Wang (Alivenotdead.com)7 - Rudy Wimmer (CBi China Bridge)8 - Gang Lu (Technode/TechCrunch.cn)9 - Oscar Ramos (DaD.asia)10 - David Li (XinCheJian)
Today’s Speakers
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Building Deeper Connections
Arman ZandHead of Technology
Finance, SSVB
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Why build connections?
Investors
Employees
Customers
Partners
Suppliers
Promoters
Bloggers Advisors Vendors
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How are we connecting?
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How are we connecting?
•These tools are to IDENTIFY
•These tools are NOT to CONNECT
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Here’s a tip for you…
Don’t ask me for sh*t…
…Until you have proven your (potential) value to me!
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So how do you show value?
Give, Give, Give, Give, Give
And don’t expect anything in return!
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Tony
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Sam
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Soul
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Common Questions
•Who has time for all this?
•What if I never get anything back?
•How do I “give” to 1mm customers?
•Does this work in China?
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This is not GUANXI!
Those taking part in the acceptance of "guanxi" are required to return "guanxi" given measured on the amount of previous "guanxi" accepted.
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Take aways
•Add value to build deeper connections
•Give, Give, Give, and expect nothing
•Build social currency, Don’t keep score
•Differentiate yourself on a personal level
•So you don’t have to on price and terms
•Find out what they need / want
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Innovation stories
Stephane Monsallier
Founder @ System in Motion
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Light Bulb•22 inventors before Swan & Edisson
•UK, FR, US, several patents filed
•Swan’s started to work in 1850
•Edisson started to improve in 1878
•Both filed patents in 1880
Late birds sometimes get all the worms
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Saccharin•Falhberg was working on coal tar
•One day he split products on his hands
•(and probably did not wash them)
•And everything tasted sweet
•He had discovered Saccharin
Don’t always listen to your mom
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Post It•Dr Silver, 3M employee was working
on super strong glue
•He created super low tack glue
•Dr Silver talked about it for 8 years
•One day, somebody suggested sticky notes
With the wrong solution, change the problem
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HeLa Cells•Henrietta Lack died of cancer in 1951
•Her cells were the first to grow in vitro and were distributed freely by Dr Grey
• They are considered immortal
• They helped cure polio, study many viruses, test many vaccines
•Current number estimated to be greater then standard human cell count
Always be generous
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Microwave Oven•WWII: Percy Spencer was working on
radar
•The chocolate bar in his pocket was melting
•He conducted more tests
•Improved, waited for the war to end, etc.
Pay attention to details, and be curious
(Always have food in your pockets)
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Alok Somani
Ekeliu
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What Start Ups Can Learn from
CorporationsAlok Somani
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innovative
agile
passionate
creative
disruptive
small
risk adverse
dedicated
structured
risk taking
political
impersonal quarterly
resultssecur
e
big
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9 out of 10
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Take Care of Your Investors
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9 out of 10
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4 out of 5
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Baby Food
Adult Food
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Bob Zheng
People Squared
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Brian Tam
Let’s Make Great
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CREATIVE LEADERShave THE MOST DIFFICULT task in the world:
making something out of nothing.
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STRUGGLEWe put our BLOOD, SWEAT, & TEARS into our work,
and we struggle: financially, in our relationships, and introducing our new ideas into the world.
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SELF-LOVEaffects EVERYTHING that we do:
our confidence when we pitch“will they really want it?”
our pricing strategy “how much are we worth?”
our development“should we continue?”
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SELF-LOVEMeans treating yourself as you do your loved ones
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FORGIVE (yourself)Letting go of your past regrets and mistakes...
so you can start to MOVE FORWARD.
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ACCEPT (yourself)Acknowledging the situation is what is it
(not blaming others or finding excuses)...
to focus on TAKING ACTION to make improvements.
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APPRECIATING (yourself)Improving your situation,
because you DESERVE it.
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Muhammad Ali
“I am the GREATEST,
I said that even before I knew I was.”
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brian taminnovation consultant, creative coach
email: [email protected]
wechat/linkedin: tamonline
www.letsmakegreat.com
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Stephen Wang
Alivenotdead.com
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Three Screw-Ups I Made in China
Stephen Wang
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Screw-Up #1
thought I was the
TEACHER
when I should have been
the STUDENT
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Screw-Up #2
planned for MACRO trends
when I should have been solving
LOCAL pain points
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Screw-Up #3
pivoted
pivoted
pivoted
until I no longer cared
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The
Wisdom of
Jet Li
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ID: swang75
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Rudy Wimmer
CBi China Bridge
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Rudy’s presentation was a talkthrough of
a video
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Gang Lu
TechNodeTechCrunch.cn
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Chineseness of Internet Market in China
Dr. Gang LU | Founder of TechNode.comhttp://gang.lu
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Figures by end of 2013
• Internet Users: 618 millions• Internet Penetration Rate: 45.8%• Mobile Internet Users: 500 millions• 93.1% of enterprises have adopted
computers and 83.2% use the Internet. 23.5% businesses sell products online, 26.8% make purchases online and 20.9% do online marketing.
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Chineseness #1
Innovation•OR
Micro-Innovation
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Changba – Mobile KTV Apps
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Papa
Papa – the photo can speak
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eDaiJia – the App can ‘Save’ your life
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Chineseness #2 : Social Media
WeChat•OR
Weibo (Chinese Twitter)•AND
Something like Facebook? NONE!
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Chineseness #3 : Chinese Philosophy
Product•OR
Platform
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Group Chat
QR-Code
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Official Account
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Banking
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Chineseness #4: All about Game
Gaming•AND
Gamification
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Data Source: UMeng
Top 5 Game Categories in Terms of Growth Rate for Daily Engagement
Times
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Game: Find Something
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Chineseness #3: Madness
Reform the market•OR
Destroy the market
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RMB500m Burned within a month. But, It’s NOT about Taxi market, it’s about Mobile Payment
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Chineseness #5: Hardware
Chinese Shanzhai•OR
Chinese Brands
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Phones
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Setbox
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Even Taobao Has One!
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Codoon
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360
Mobile WiFI
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GEAK Watch GEAK RING
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Smart Watch for Women
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Bracelet for Kids
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Smart Router
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Chineseness #6: Trend
Cloud Service•AND
Online Education•AND
Online Financing
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Government Relationship
Product Localisation
You Have to Do It !
Internet Culture
Awareness
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Oscar Ramos
DaD.Asia
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My Story in China
6 years20+ Projects
50% Alive
WHY?
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Too many reasons
but applying the “5 WHYS methodology”
TEAM PROBLEMS
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~Mark SusterSource: http://www.bothsidesofthetable.com/2013/02/06/how-to-configure-your-startup-team/
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三个臭皮匠赛过诸葛亮
sān gè chòu píjiàng, sàiguò zhūgě liàng
Three stooges will beat Zhugeliang
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Builds Product
Sells Product
Team roles in startups
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Builds Product
Sells Product
ManagementCommunication
Team roles in startups
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一个 ( 中国 ) 人是一条龙,三个 ( 中国 ) 人是一条虫
Yīgè (zhōngguó) rén shì yītiáo lóng, sān gè (zhōngguó) rén shì yītiáo chóng
One (Chinese) person is like a dragon, three (Chinese) people are like a worm
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Source: The Wisdom of Teams by Katzenbach and Douglas Smith called
Work Group1 + 1 + 1 = 3Pseudo Team1 + 1 + 1 = 2Potential Team1 + 1 + 1 = 3Real Team1 + 1 + 1 = 4High Performance Team1 + 1 + 1 = 10+
The Team Performance curve
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One of the most important risks for your startup is internal!
Good news: It can be managed
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David Li
XinCheJian
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Makers, Shanzhai and Open Innovation
David Li, XinCheJian and Hacked Matter
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Hacked MatterAn Open Innovation Research Hub Based in Shanghai
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Driving the Movement
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• The open source software has gone from a movement to an industry in two decades
• What is "open source?"
• The right to look inside
• The right to change
• The right to redistribute
Open Source
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• Arduino, the little micro controller that could
• The attitude change drives the movement
• Common platform for exchange of ideas
• Base of 3D Printer, DIY Drone, and other new communities
OS hardware
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CrowdfundingExplore Longtail of Goods
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The Long Tail of Physical Goods
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ShanzhaiOpen Source with Chinese Characteristics
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Huaqiangbei
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The Long Tail of Physical Goods
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Open Innovation for the Future
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"The future is already here - it's just not evenly distributed." - William Gibson
"The best way to predict the future is to invent it." - Alan Kay
Maker: a movement toward open innovation
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Startup Opportunities: hackerspace, accelerator and crowdfunding
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Globally Connected Small Enterprises
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ERP/MRP at Internet Scale
• Manufacturing has been the most difficult part for the hardware startups
• Going to 0 to 1 to 1000 to 1,000,000 in recorded time!
• Going from shopping on Taobao to procurement Alibaba
• Need for new kind of ERP/MRP at Internet Scale connecting different resources
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Thank You!!
@Chinaccelerator everywhere!