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Venture-backed Startups in China: A Hidden Job Market? PowerPoint Presentation
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Venture-backed Startups in China: A Hidden Job Market?

Venture-backed Startups in China: A Hidden Job Market?

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Venture-backed Startups in China: A Hidden Job Market?

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  1. Venture-backed Startups in China: A Hidden Job Market? Andy Mok, Managing DirectorRed Pagoda Resources, LLCDelivering Exceptional Talent to Audaciously Visionary Startups in China March 1, 2010

  2. Agenda • Why China? Why big cities? Why startups? • 3-Point Blueprint for Success • Specific Advice and Tools Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  3. Why China? Economic GROWTH IMF World Economic Outlook GDP Growth for 2010 Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  4. Why China? Increasing U.S. Unemployment Bureau of Labor Statistics Unemployment Rate at Jan 31 Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  5. Why China? Booming Consumer Market Annual retail sales growth in China 17% (inflation-adjusted) Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  6. Why China? Implications • Growth equals business opportunities • Opportunities require well-trained and ambitious people to realize them • Growth also means opportunity for rapid career advancement • Bottom line: Greater quantity of jobs Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  7. Why big cities? Innovation • Diverse economic and social structures true engines of growth • Jostling and dense environment essential to creating things that are truly new • Innovation is what keeps cities vital and relevant Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  8. Why big cities? Virtuous Cycle THE BIGGER THE BETTER Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  9. The world’s 40 largest mega-regions Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  10. How do China’s big cities stack up? Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  11. Why big cities? Conclusions • Often crucial sources of innovation • Regarding innovation and cities, the bigger the better • Prediction: Tsunami of Chinese innovation • Bottom line: Higher quality job opportunities Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  12. Why startups? The Real Growth Engine 2010 Recruiting Trends Source: Michigan State University Collegiate Employment Research Institute Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  13. Overall Conclusions • Strong growth in China resulting in massive increase in quantity of jobs • Drivers of innovation mean higher quality of jobs created in China’s big cities • Most new job creation occurs in startups/fast-growing companies • So, now what? Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  14. 1 – 2 – 3 Clarify – Commit – Execute Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  15. 3-Point Blueprint: CLARIFY Private victories precede public ones* *Source: The 7 Habits of Highly Effective People by Stephen Covey Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  16. 3-Point Blueprint: CLARIFY • What do you want, really? • Be careful what you ask for... Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  17. 3-Point Blueprint: CLARIFY Are you really special? Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  18. 3-Point Blueprint: CLARIFY Acid test: • How truly resourceful and independent are you? • How badly do you want it? Is it in you? Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  19. 3 Point Blueprint: CLARIFY Cracking the code: • Compensation • Current skills • Growth potential • Adaptability Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  20. 3-Point Blueprint: COMMIT What goes around, comes around • Penn Alumni Club of Beijing • Short-term unpaid internships • Other appropriate volunteer opportunities Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  21. 3-Point Blueprint: COMMIT There's no substitute for being there Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  22. 3-Point Blueprint: COMMIT • Other ways to demonstrate commitment • Formal Chinese classes • Your ideas? Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  23. 3-Point Blueprint: EXECUTE • Immerse yourself in the environment • Build a network of allies and advocates • Hone and sharpen your pitch Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  24. Advice from VCs - 1 • Keep in mind the different levels of management talentbetween the U.S. and China • The VC industry in China is less mature and experienced than in the U.S. • What are some of the more common mistakes people make when job hunting in China? • Some candidates over-estimate their own ability and underestimate the challenge of adapting to the environment • Need support network to help overcome challenges • Build a network through recruiters, school career office, alums to identify opportunities Michael Yin, Associate at Warburg Pincus Asia LLC Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  25. Advice from VCs - 2 • Most startups don’t formally recruit • It’s ALL word of mouth • Opportunities open and close very quickly • Need to talk to EVERYONE • “Every single job I got began with a conversation with someone who didn’t have a job to offer” Patrick Chovanec, Associate Professor at Tsinghua University Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  26. Advice from VCs - 3 • Lower your expectations • Don’t expect things to happen to quickly. Results take a while • Study failures • Be ready to abandon pre-conceived notions • Learn about your target companies informally ZHOU Hailun, Director at China New Enterprise Capital Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  27. Specific tools - LinkedIn Using LinkedIn effectively Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  28. Specific tools – China Startup Resume Book • Add your resume • Will be circulated among select venture capital firms and their portfolio companies in China UPenn Career Services – China Startup Resume Book Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net

  29. Andy Mok, WG’02 • Over seven years of private equity and startup experience in Greater China • Founder of Wharton Alumni Club of Seattle, • Johns Hopkins School for Advanced International Studies, MA in China Studies • Contact info: • Andy@RPResources.net Delivering Exceptional Talent to Audaciously Visionary Startups in China - www.rpresources.net