Krating Ponpool, Partner, 500 Startups – How to Expand into Asia
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Krating Ponpool, Partner, 500 Startups – How to Expand into Asia
- 1. How To Expand To Asia Krating Poonpol, Partner, 500 Startups
- 2. 72.5% of International Unicorns Are Asians.
- 3. The Next 100 Billion USD Companies Will Be Coming From Asia Or Those Who Successfully Conquer Asia My Two Bold Predictions 1.
- 4. > 90% of The International Unicorns Will Be Either Asian Startups Or Those Who Successfully Conquer Asia My Two Bold Predictions 2.
- 5. Asia is Growing Young While US and (Majority of ) ROW Are Greying
- 6. Millennial and Gen Z will be key consumer segments Consumers Ready to Go Online and Ready to Adopt New Tech Products and Services.2.1Billion Source: GoldmanSachs
- 7. The Young, Tech-Savvy, Socially Addicted, Open Consumers 1 1.5 billion aged between 15 and 35 live in Asia currently 2 1.2 billion internet users in Asia but penetration at 35% is well below ROW at 52% 450mn monthly active users in Facebook Asia Growing smarter: 1.3bn smartphone users in Asia currently and expected to grow 30% p.a Consumption (% of GDP) in Asia is 49%, below the world average and growing at 8% CAGR 3 4 5 Youthful Asia Getting Online More Sociable Growing Smarter Rising Consumerism Source: GoldmanSachs
- 8. Mobile technology and tech-savvy demography to usher in an era of digital financial services. Case In Point : FinTech Source: GoldmanSachs
- 9. “Transformation to a digital financial services paradigm”
- 10. Case In Point : WeChat
- 11. Smart Money Also Seems To Believe So…. VC Investment Trend US EuropeAsia 2015 2016 $82 B $72 B $18 B $16 B $39 B $39 B 2020 ??? ??? ??? https://home.kpmg.com/xx/en/home/insights/2015/10/venture-pulse.html
- 12. https://home.kpmg.com/xx/en/home/insights/2015/10/venture-pulse.html Smart Money Also Seems To Believe So…. VC Investment Trend
- 13. Life is too short not to build a billion USD or even 100 billion USD Unicorn!
- 14. But Asia Is….
- 15. Asia Is NOT Only China, India, and Japan “This is a great place to be. There is going to be a lot going on here.” Draper gained fame for investments in startups that went on to become household names, such as Baidu Inc., Tesla Inc. and Skype.
- 16. South East Asia According To Facebook
- 18. Asia is Tough!
- 19. Asia Is Tough! > 9,000 P2P Lending Startups In China!
- 20. Asia Is Tough!
- 22. Asia is Fragmented CAC LTV Tier 1 City Tier 2 City Tier 3 City $20 $29 $34 $83 $52 $36 It’s Many Mini-Countries Within A Country!
- 23. How To Expand To Asia?
- 24. Amazon invested 2 Billion USD in India and plan to enter South East Asia http://techstory.in/amazon-india-rise/
- 25. Don’t Enter Asia Don’t Even Enter China, India, or South East Asia
- 26. Enter Tokyo, Shanghai, Singapore, Bangalore, Beijing, Jakarta, or etc. instead To Capture A Billion Customers. Start With 10 Million!
- 27. You don’t come to Asia as a startup; You come to Asia to be a Unicorn.
- 28. Do The Macro Analysis Find Your Beach Head Concentrate Your Efforts
- 30. Cross-market Variables City pop index *adjusted Laundry price index Chosen Segment Size Estimate ($ mil) Total City Size Estimate ($ mil) Bangkok 1.00 1.00 60 200 Singapore 0.65 1.91 75 249 Hong Kong 0.87 1.43 75 248 KL 0.20 1.10 12 43 Macau* 0.07 1.43 6 20 Seoul 1.22 3.75 276 919 Tokyo 1.59 2.29 219 728 Taipei 0.85 0.91 45 155 Shanghai 2.92 1.21 210 704 Sydney 0.57 3.57 123 411 Auckland 0.17 3.97 42 136 Jakarta 1.18 1.01 72 238 Manila 1.43 1.78 153 509 HCMC 0.99 0.58 33 115 Total 1,401 4,673 ¨ Hard Variables ¤ Population ¤ GDP per capita ¤ Internet penetration ¤ Smartphone penetration ¤ Laundry Price ¨ Soft Variables ¤ Urban setup e.g. no. of mall, high-rise building, etc. ¤ Age distribution ¤ Logistics infrastructure ¤ Government policy Case In Point : On-Demand Laundry Box and Smart Locker Startups Source: Box24
- 31. Laundry is big and urban Singapore TokyoShanghai Bangkok Auckland Jakarta 240 Manila HCMC 500 120 Sydney Taipei Hong Kong Seoul KLMacau 200 400 140 700 150 600 20 50 250250 Asia-Pacific Total Addressable Market Over USD 4,600 mm : Total Accessible Market Size (USD mm) 700 Source: Box24 estimate based on population and price index High Growth Low Growth Source: Box24
- 32. List Top 5 Mega Cities Your First Hypothesis My Product/Service Can Do 10x Better Than My Asian Competitors Because I Have This xxx Unfair Advantage “Features, Technology, Know-How, Business Model, Brands/Stories, Capital…” What Do I Need To Make My Products/ Service Platforms 10x Better?
- 33. Find The Bridges And Allies China, SEA, MENA, Japan, Thailand, VN Telco, Banks?
- 34. Joe Gebbia, Co-Founder of AirBnB Do Things That Don’t Scale
- 36. Find The Connectors Source: https://www.forbes.com/sites/jlim/2016/07/31/asias-best-co-working-spaces-are/#28787c44ef4d
- 37. Read Local Tech Blogs and Befriend Local Journalists. Do Guest Post.
- 38. Engage Local Talents and Establish Influencer Lists Localization Must Be Done By Locals
- 39. Zara ’s Launch in Malaysia Source: https://hotcopy.co/blog/zara-epicfail-malaysia-localization/
- 41. Where Is My Beach Head? Who Are My Allies And Bridges? What Are My Unfair Advantage? How To Make My Product/Service/Platform 10x Better? Strategic Partners? Contents? Who are Top Influencers, Talents I Should Engage? My Minimum Viable Go-To-Market Strategy and How To Validate It?
- 42. Respect Everyone. But Fear Noone!
- 43. Book A Ticket and Visit The Markets and Enjoy The Beauty of Asia !