The image of Chinese Internet entrepreneurship in foreign media

According to foreign media reports, entrepreneur Bowei Gai came to China last month to study the local Internet entrepreneurship scene to see if there is any opportunity for Silicon Valley entrepreneurs and investors, he published his own research results "China Venture company report", he said, in China, money is not a problem, especially for good companies. But unless you are willing to enter China and take the time to study the market, the risk is far greater than the benefits. The following is a summary of the content:

The size of China's Internet market

* Population 1.3 billion, 655 million urban residents

* 485 million netizens, over 135 million internet cafes

* 800 million Chinese mobile and China Unicom users

* GDP has grown 44.5 times-fold since 1985 and is expected to surpass the US in 2020

Comparison of Internet market size between China and US

China's affluent class

Top Internet companies in China

Internet culture in China

* China is self-sufficient in internet and rarely enters foreign countries. Some netizens don't even get used to email because their entire network lives on QQ.

* The Chinese website layout is crowded, is not beautiful, this mainly is related to the language and the custom, although so its flow is still much higher than those beautiful web2.0.

Other features

* 70% of Internet users are younger than 30 years old and are used to spending online, like Taobao.

* Not willing to pay for software, buy physical goods and pay for games.

* Rely on search engines, can remember less site names.

The competition form of internet in China

* Competition is brutal.

* Follow the law of the jungle.

* Foreign Internet companies do not play.

Difficulties for foreign companies to establish companies in China

China Internet talent Pay

* Intermediate Engineer Salary: USD 1000 USD-1500 USD

* Top Engineer Salary: USD 2500 USD

* Low job loyalty, high bonus expectations. The former is due to the high demand of top programmers, and the employees ' expectation of cash and gifts for the holidays. The employees of the famous schools are also more proud.

Entrepreneurial environment

If you are serious, go to Beijing, where entrepreneurial atmosphere is strong, and thoughtful service, people of Silicon Valley culture and business quite understand.

China's Angel/VC market

China's VC market is not short of money, companies are reliable words financing is not difficult. The small Angel group funds most of the local rich people, people do not trust outside the circle of enterprises and investors, feel unreliable.

Preparation for entrepreneurial psychology

It is not popular in China to buy a company just to get talent, to start a company directed at an IPO or to run a lifestyle company, not for those who want to make quick money. People prefer big companies to startups.

Cultural background

Incubator company employees can be as many as 30-40 people, rent beautiful office to create a bright future, otherwise recruit not bearer. Labor is cheap.

What's your advantage?

Being respected, attracting attention, it's relatively easy to melt money.

Your disadvantage

* No understanding of local language and culture

* Inability or not knowing how to deal with brutal competition

* More difficult to gain trust in China's entrepreneurial circle reputation is not high