{"id":41785,"date":"2023-10-20T15:16:28","date_gmt":"2023-10-20T15:16:28","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/what-this-australian-investor-learnt-from-going-on-chinas-version-of-shark-tank-startupsmart-2\/"},"modified":"2023-10-20T15:16:28","modified_gmt":"2023-10-20T15:16:28","slug":"what-this-australian-investor-learnt-from-going-on-chinas-version-of-shark-tank-startupsmart-2","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/what-this-australian-investor-learnt-from-going-on-chinas-version-of-shark-tank-startupsmart-2\/","title":{"rendered":"What this Australian investor learnt from going on China\u2019s version of Shark Tank – StartupSmart"},"content":{"rendered":"
\"\"<\/div>\n

An Australian investor who recently appeared on China\u2019s version of Shark Tank<\/em> says there is huge untapped potential for local startups in that market.<\/p>\n

 <\/p>\n

Andrey Shirben, a founding partner at Follow [the] Seed<\/a>, appeared as an investor on The Next Unicorn –<\/em> described as a cross between Shark Tank<\/em> and The X-Factor –<\/em> along with two Australian entrepreneurs who appeared as contestants.<\/p>\n

 <\/p>\n

Fifteen founders from around the world were selected to compete for a $2.5 million investment prize as the show searched for the next billion dollar startup.<\/p>\n

 <\/p>\n

It was also an opportunity to meet entrepreneurs and investors from around the globe, Shirben says.<\/p>\n

 <\/p>\n

\u201cI met over 70 entrepreneurs in two and a half weeks,\u201d Shirben tells StartupSmart.<\/em><\/p>\n

 <\/p>\n

\u201cThere were quite a lot of entrepreneurs from different backgrounds in building different businesses.\u201d<\/p>\n

<\/h3>\n

Untapped potential<\/strong><\/h3>\n

 <\/strong><\/p>\n

Shirben has worked in the China market for over 10 years but says it still surprises him each time he visits.<\/p>\n

 <\/p>\n

\u201cThe Chinese market is something that always fascinates me,\u201d he says.<\/p>\n

 <\/p>\n

\u201cI\u2019ve been working there for over a decade and every time I go I\u2019m amazed time after time at how fast things grow there and how big the potential is for future growth.\u201d<\/p>\n

 <\/p>\n

Shirben says Australian startups need to take advantage of their proximity to the Chinese market and fully realise the array of opportunities on offer.<\/p>\n

 <\/p>\n

\u201cThis is the competitive advantage for Australian startups \u2013 we\u2019re geographically closer, we have economic ties and Australian education is very highly regarded,\u201d he says.<\/p>\n

 <\/p>\n

\u201cIt\u2019s something that Australian startups should capitalise on because it\u2019s quite a good asset.<\/p>\n

 <\/p>\n

\u201cIt enables them to find the right people to help them tap into this amazing market later on.\u201d<\/p>\n

 <\/p>\n

Cracking the China market<\/strong><\/h3>\n

 <\/strong><\/p>\n

For a startup to successful crack the Chinese market, Shirben says it\u2019s crucial for them to get feet on the ground and properly understand the local context.<\/p>\n

 <\/p>\n

\u201cThe key thing is that you need to do your homework,\u201d he says.<\/p>\n

 <\/p>\n

\u201cYou can\u2019t come up with your Western pitch and pitch to Chinese investors and judges. For a good chunk of startups going to China and handling this market properly could unlock a lot of very unique opportunities for them.<\/p>\n

 <\/p>\n

\u201cThese are opportunities they wouldn\u2019t find locally or even in the US, UK and other Western markets.<\/p>\n

 <\/p>\n

\u201cIt\u2019s definitely one of the markets you should have a close look at.\u201d<\/p>\n

 <\/p>\n

Follow StartupSmart on Facebook, Twitter, LinkedIn and SoundCloud.<\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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