Last week we came across a very insightful slideshow titled “Technopreneurship and the Early Stage Ecosystem in China”. This presentation has been recently created by Chris Evdemon, a partner at Innovation Works (one of China’s leading VC firms).
If you want to read a great summary on China’s current Internet landscape you really should take half an hour to watch these slides.
Some interesting take-aways:
- Mobile internet is increasing exponentially in China and therefore accelerates everything. Android is by far the leading mobile OS in China and Chris points out that Android will be at the core of China’s next few multi-billion dollar companies.
- He indicates 4 steps for Chinese innovation.
- The freemium model rules in China and the West can learn a lot from it. Almost all apps are free to download in China and developers monetize via in-app purchase or ads.
- China’s startup ecosystem is immature and startup services are relatively scarce.
- He provides an overview of strategic investments and M&A by the Big Three (Tencent, Alibaba and Baidu)*.
* See also the infographic “Has War Broke Out Between China’s Tech Giants” to find out more about the developments in China’s tech M&A market.