VCs target start-ups with killer apps
By Zhu Shenshen |
March 22, 2013, Friday
|
Print Edition
Print Edition
VENTURE capitalists eying investments in China's huge mobile Internet market are targeting start-ups which have created, or in the process of creating, killer applications that will enhance efficiency for consumers.
During the Demo China 2013 forum, an annual conference bringing start-ups and investors together, 15 start-ups showed off their latest Internet mobile products such as apps that can be downloaded to smartphones. Some of these apps connect users to hundreds of radio stations in the world, help in learning English and other languages, booking sports stadiums and booking cabs.
Chang Bin, chief executive of Kunwu Jiuding Capital Co, is hopeful as these innovations "are huge opportunities for us (investors) and catalysts for the whole mobile Internet industry."
His company invests 10 million yuan (US$1.6 billion) or more in each potential project.
The output of China's mobile Internet market surpassed 900 billion yuan in 2012, taking up 1.8 percent of the country's economy.
During the Demo China 2013 forum, an annual conference bringing start-ups and investors together, 15 start-ups showed off their latest Internet mobile products such as apps that can be downloaded to smartphones. Some of these apps connect users to hundreds of radio stations in the world, help in learning English and other languages, booking sports stadiums and booking cabs.
Chang Bin, chief executive of Kunwu Jiuding Capital Co, is hopeful as these innovations "are huge opportunities for us (investors) and catalysts for the whole mobile Internet industry."
His company invests 10 million yuan (US$1.6 billion) or more in each potential project.
The output of China's mobile Internet market surpassed 900 billion yuan in 2012, taking up 1.8 percent of the country's economy.
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