Overview of Entrepreneurship In Hangzhou

Overview of Entrepreneurship in Hangzhouand Chinese business culture 101

X

Hello, everybody! How is everybody doing today? How about Dave? Thanks god, you are here. Thank you party secretary Xu to give me this opportunities to talk here.1

Agenda

X

Part 1:Entrepreneurship in Hangzhou 1.About speaker 2.Key notes about Hangzhou City 3.Overview of entrepreneurship in Hangzhou 5.What kind of startups in Hangzhou6.Why Hangzhou?

I know that for many of you, this is your first time in Hangzhou, so its understandable if youre a little nervous. Everything is different from what you see from CNN news. So please let me take this opportunity to introduce the entrepreneurship in Hangzhou. CNN2

About of speakers

X

Feng, Junfeng Director Of US Office MSc Finance and Investment from Queen Mary, University Of London Joined the Hangzhou Future Tech City in 2009 2009Helped Hillary Clinton find sponsor for USA Pavilion in Shanghai EXPO in 2010 2010Relocated to Bay Area to establish the US branch company in 2013 2013Facilitate the collaboration between Future Tech City and 500 Startups in 2015 2015500 Startups

3

Key notes about Hangzhou Capital of Zhejiang Province Beautiful city build around the West Lake 6506 sq. mi 6506over 9 million people 900Over 20% population received high education 20%Major industries including: banking,media, e-commerce,automobile,real-estate and pharmaceutical

Hangzhou is the biggest city and also is the capital of Zhejiang Province. Hangzhou was the capital of two dynasties. It coverd 16 thousand 8 hundred and 50 square kilometer area in the east of Hangzhou Bay. Total

4

Overview of entrepreneurship in Hangzhou Growth rate of Hangzhou startup companies is 32.4% avg. in last 3 years. Compare with Beijing(30.2%), Shanghai(27.1%), Shenzhen(29.3%) 32.4%30.2%27.1%29.3%

60% of entrepreneurs had work experience in Alibaba, 3% from Microsoft, 2% from 163.com 60%3%2%

33% of entrepreneurs graduated from Zhejiang University 4% from Zhejiang University of Technology ,3.7% from Shanghai Jiao Tong University 33%4%3.7%

Around 37% of startups get invested. Most of them are: e-commerce, financing,O2O and Social Network Service. 37%

2013 32.4% 30.2%27.1%29.3%

60% 3% 2%

33% 4% 3.7%5

What kind of startups in Hangzhou?Top industries are E-commerce(18%), enterprise service(12%) ,Finance (8%), entertainment(8%) , O2O Service (8%), Social Network (7%) and Education(7%)

E-commerceenterprise serviceFinance EntertainmentO2O ServiceSocial NetworkEducationVehicle & TransportationGameSoftware ToolMobile InternetHardwareTravelReal Estate ServiceAdvertisementHealth Care

18%12% 8% 6

Why Hangzhou? ?Reason 1: Government loves innovation1

Electrical bus with free Wi-Fi

Social security card Medical Insurance, Library cardTravel card for Subway, Bus, Taxi, Public bikeparking fee, shopping at convenience storeTime Shared EV for Publics

Dave

There are many people ask the same question: why, why Hangzhou? What makes Hangzhou Special? There are three elements in Hangzhou makes startups stay: Alibaba, private investment 7

Why Hangzhou?Reason 2: Entrepreneurial culture 2

1650 startup events in 2015 20151650

Hangzhou have over 120 Coworking Space 120

Why Hangzhou?Reason 3: Capital 3:Zhejiang province has the largest private sector in China mainly based in Hangzhou Strong local inventors and venture capitals International VC are also interested in Hangzhou

9

Hangzhou is a fun place to live

X

10

11Agenda

X

Part 2:Chinese business culture 1011.About me2.Culture differences3.Examples!4.Q&A

12About me

X

Kuan Yan

3 years in the United StatesInternational Business in SVSUCross-cultural communicationForeign affair in Administrative Committee of Hangzhou Future Sci-Tech City

Todays agenda is to have introduction about entrepreneurship in Hangzhou.

13Culture differencesCultural ValuesExpressed West(America & most European countries) East(The Chinese and Most Asian cultures) Nature of the Business Relationship Less important, tend to substitute relationship for written agreement, superficial, easy to form, not long lasting Most important business cannot occur until relationship if sound, written agreement secondary to guan xi, hard to form, long lasting Conflict Resolution Trial or confrontation, use of lawyers and courts More mediation though trusted third parties Time Sense During Meetings Be on time and end on timeAppointments less driven by exact start and end times Conflict results Perception of two states: win or lose Win-WinTo lose is to winLose in order to win

Todays agenda is to have introduction about entrepreneurship in Hangzhou.

14How to make a handshake

X

Let lady/elder/senior/host stretch out his/her hand firstAlways determine who is the most senior person and shake hands with that person firstMake a formal but light handshake-strong handshake may take as an unfriendly behavior

Todays agenda is to have introduction about entrepreneurship in Hangzhou.

15Exchange business cards

X

Give and take business with two handsMake sure it is up-side-down from your side for recipient could read it easier Read the name and title in the cardCall his/her name with titlePut business card in your front pocket,DOT NOT put into your trouser pocket

Todays agenda is to have introduction about entrepreneurship in Hangzhou.

16Dining Etiquette

X

The order of seat in a formal banquet

Main hostMain guestMain guestHost Host GuestGuest

If you are not sure where is your seat, wait for the host for further instruction

Todays agenda is to have introduction about entrepreneurship in Hangzhou.

17Something unexpected

X

Not everyone following the etiquetteBusiness etiquette may very depend on the regionIf the host start to follow American business role, keep to follow Chinese business etiquette to show your respect and, give them Mian Zi

Todays agenda is to have introduction about entrepreneurship in Hangzhou.

18Q&A

X

Todays agenda is to have introduction about entrepreneurship in Hangzhou.

19Thank you!

X

Pic from:www.saos.biz, julianaquinterol.blogspot.com, laurenlox.com, sinolat.wordpress.com

Todays agenda is to have introduction about entrepreneurship in Hangzhou.