The reality is that in both China and the US, startups and founders are as diverse as the ideas they’re building. However, for cultural as well as regulatory reasons, there remain many differences between the startup eco-system in the US and its counterpart in China. Although passion for what they build and dreams remain very similar, entrepreneurs in China and those in the US have adapted to the forces in their environment in many different ways. Although its almost impossible to list all of the various differences, we can still examine some of the most salient points.
The very first StartupWeekend Shanghai arrives on July 22-24. Participants will experience 72 hours of an amazing startup race in which to generate high quality product to present.
Over 100 participants have already signed up for StartupWeekend Shanghai and 65% have original ideas. The organizers are expecting about 200 participants and over 80 high quality startup ideas for the event. Sign up now! http://shanghai.startupweekend.org/
At StartupWeekend Beijing, 5 teams and 39 entrepreneurs presented to a packed house of investors and tech enthusiasts.
Bravo to these entrepreneurs for putting themselves on the line: startups are still risky business, both financially and personally. Eric Wang, leader of the Wodache team, said that he left his job in finance to later pursue the calling, “When I came to China to do a startup, my mom was so angry that she wouldn’t talk to me for a month. She wouldn’t pick up my call on Mother’s Day.”
Here’s a round-up of the five startup teams that came out of StartupWeekend Beijing. E-commerce was a theme among this batch.
Yoopay.cn, self-billed as China’s first event payment platform, recently exceeded RMB 1M in transactions in just 3 weeks since launching in early May. With just over 10,000 registered users, Yoopay is growing rapidly with the support of Origin Capital, a Internet venture fund based in Beijing, China. Yoopay has signed up UnionPay and Alipay, China’s two largest payment platforms with over 500 million users, as key partners and is in discussions with other Chinese commercial banks.
Startup Weekend Beijing is a 54-hour event that enables SoLoMo (social, local, mobile internet) entrepreneurs to meet high caliber and like-minded peers, get coaching from experienced partner level VCs from IDG, Innovation Works, Matrix Partners among others and possibly get funded.
If you love startups, you should love iWeekend. The event brings together entrepreneurs who team up around an idea and then work like crazy to build a prototype within 52 hours. I attended the closing ceremony for the April 15-17 iWeekend Beijing, where four new startups were released to the world.
iWeekend Beijing is coming up on April 15-17: “60 entrepreneurs will do their thing to lay the foundations of 3 startups in one iWeekend.” TechRice’s Frank Yu reported on the last iWeekend Beijing in the fall, where 3 new startups were born. To register click here: http://iweekend.51qiangzuo.com/
It’s said that a rising tide lifts all boats. In China today, a confluence of forces has created a tide of unprecedented proportions that will most likely lift entrepreneurs and those building companies now highest of all.
Beijing-based Startup incubator Innovation Works has launched a free video platform for the Chinese startup community.
When programs like iWeekend and Startup Weekend come to China, the startup community gains an opportunity to learn and find future co-founders and staff.
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