Qunar co-founder Fritz Demopoulos says startup success in China requires a 10-year commitment

Fritz Demopoulos, who co-founded Chinese transport portal Qunar and now creates early-stage startup investments by Queen’s Road Capital, pronounced that if he had a singular square of recommendation for founders looking to pursue their “China dream,” it boils down to one word: “Commitment.”

Demopoulos was interviewed on-stage during TechCrunch Shenzhen, that we orderly with TechNode. He remarkable that while some entrepreneurs “want to concentration on a plan for one or dual years, or wish to concentration on a Chinese event for one or dual years,” a normal association that goes open is a decade old.

“To take that same analogy, we need to dedicate during slightest 10 years to a Chinese market,” Demopoulos said.

After all, he described China as “ruthlessly competitive” and a “highly energetic market,” with factors like mass immigration from a panorama to large cities and fast expansion in consumer spending and borrowing.

The marketplace presents hurdles for investors, too. For one thing, while try capitalists adore to explain that they deposit in teams rather than products,  Demopoulos pronounced it’s harder to do this in China, where there’s a “Jack Ma effect” — while a Alibaba owner is “one of a biggest founders in a final 200 years anywhere,” he’d formerly struggled to find work and was even deserted from a pursuit during KFC.

“Traditional filters to weigh rarely able people don’t work in China,” Demopoulos said. At Queen’s Road, he tries to understanding with this by spending some-more time unequivocally removing to know entrepreneurs — a hours compulsory by this proceed can supplement adult fast (especially when double opposite all a startups he meets with regularly before determining not to invest), though he said, “We consider that’s substantially a surest approach to know someone’s capabilities.”

While Demopoulos is formed in Hong Kong, he invests opposite Southeast Asia. Outside of China, he pronounced he’s meddlesome in countries like Vietnam and a Philippines, though he described Indonesia is “first among equals.” That’s since it has a immature race in a early stages of consumerism and an Internet economy — he pronounced it resembles China 7 to 10 years ago.

“Some models that worked in China 7 to 10 years ago competence work today,” he said. “It’s like holding a time machine.”

Short URL: http://hitechnews.org/?p=10111

Posted by on Jun 20 2017. Filed under Startups. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Leave a Reply

Photo Gallery

Log in | Designed by hitechnews