Crouching tiger, hidden dragon. Can China or India (or even the UK) produce a global Internet company? Where are all the Web or mobile entrepreneurs in these countries who want to win a global market?
I remember organizing and hosting startup events all over the world about 10 years ago. The one thing that always struck me as strange: very little innovation outside the U.S. A country like England, for example, has always had lots of creative people. It gave us the Rolling Stones, Beatles, Leona Lewis, Coldplay and more.
Yet when I produced the event in London there were few innovators. Ditto for other cities like Hong Kong, Tokyo, Sydney. These events attracted over 100,000 people…to watch, learn and discover. But not to share.
I find it very odd that a valley in California generates most of the world’s technology innovation. I live in Silicon Valley so I know why. But I find it odd that countries such as China with tremendous engineering and talent (and India) haven’t produced a global Internet brand, one used in dozens of countries, the same way Google, Yahoo or Facebook is.
Yes, there’s Baidu and Taobao. But outside of China nobody knows of them. Skype is one of the only European-started Internet companies to have made it into a global powerhouse. When the founders sold it to eBay a few years ago Skype had about 50 million registered users. Today it has over 400 million. And rumor has it that the founders want to buy Skype back from eBay for about $2 billion. November of 2007 I shared a thought with the venture investor in Skype, Tim Draper (he invested in Hotmail, Skype and others), and suggested he buy it back, that it was worth more than any investor gave it credit for. Face it, Skype is better than most phones anywhere. And free.
Tim’s reply to me:
“Finally, someone who gets it. I think I should buy it back.”
Getting back to my original idea: can a global Internet company come out of China, India or the UK?
My belief is yes. Venture capital is starting to invest in these countries. But is it just capital? money never made success. Ask Boo.com. Venture capital is only as good as the companies it backs. Sometimes companies get sloppy with capital and other times, venture backers have no vision or patience.
So setting there won’t be as easy as 1-2-3. There is no paint by numbers formula. However, there is a method. It takes sweat, persistence. Tenacity. Here are some basic foundations–
10 Steps For China, India or the UK to create a global Internet powerhouse:
1) see a global opportunity, not just country opportunity. Most American startups see the world as a market, the US being just one market
2) map out how to achieve global presence
3) get investors who understand global trade and the opportunity
4) study US, Europe and Asian markets to see how your solution meets needs worldwide
5) name the company something that means nothing in every language. In other words, don’t sound American, Chinese or Indian. Sound universal.
6) hire people with global experience to strengthen the team
7) raise enough capital to be able to compete globally
be fun
9) partner with companies that can help you realize the vision
10) encourage creative thoughts, not boring business as usual
My belief is that there’s no reason why a Google, Facebook, Microsoft or Intel cannot come out of China, India or the UK.
The more amazing part is one hasn’t yet in 15 years of the Web industry. As an entrepreneur, investor and executive who has helped build companies that today are part of Google, Motorola and more, I know the talent is there in China, India and the UK. My network of over 1,700 entrepreneurs (spark network) is proof. So let’s go.
Now is the time for “leaping tiger, flying dragon.”
Taleee.com