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How to win over Chinese Investors?

#1: Vincent Chan from LivAway

Vincent Chan from Livaway

Who are you?

"I am CEO of LivAway.org to help foreign startups to do B2B customer acquisition in China.

Startup mentor of WeWork Labs and Caohejing High Tech Park (where Tencent and TicTalk are registered.)

Angel round venture capitalist, member of Fudan Investment Association, invested in AI, blockchain and new retail."

What are you looking at when investing?

What are the most important criteria for you when assessing a startup to invest in?

"Whether this business model has been proven true: in short, is there any real customer already paid?

The startups "market" is China is huge. Every day there are literally thousands of startups approaching VCs, 80% of them have a super solid and money-making business model described in the pitching deck. There is no way an investor can tell whether it's worth talking to them unless the business model has been proved by the market, aka, paid customers."

Best practices when approaching Chinese investors.

What are the Best Practices for foreigners when approaching Chinese investors?

"A concise pitching deck contains every factor of a startup in CHINESE is a MUST.

NEVER have I seen any Chinese investors willing to talk to ANY startup owners without reviewing their pitching deck first.

(Sometimes you may hear a Chinese investor asking for your "BP", it's short for the business plan, means pitching deck as well.)"

Worst practices when it come to approaching investors.

What are the most common mistakes for foreigners doing business in China?

"If a Chinese has helped you in any form (even by charging money but way less than the market price), in our culture, we take it for granted that you WILL help us back. It's a social rule which worked in this land for 5000 years, it's in most of Chinese's blood. Saying no of "doing favor back" when being asked, is an identity to say "I don't want to see you anymore" in the culture, which will completely cut your relationship with the person who helped you."

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