It’s feeling like Shark Tank at the China National Convention Center: 12 start-ups are being put on the spot this weekend to pitch their fledging products to venture capital and angel investors at the Great Mobile Internet Conference 2012’s G-Startup competition. Check out the line up here.
This morning’s session showcased the Seed/Early-Stage groups; five teams, from China, Finland, Japan, Korea, and Canada, pitched their mobile apps in front of an audience to a panel of international investors. Their hope? To attract the eye and the wallet of these investors, while collecting important feedback during Q&A.
How do you stand out in an already congested apps crowd? Know your product and your market. Melody He, CEO of DuoDuo, a Chinese startup, is confident in her mobile platform, which streamlines communication between schools and parents.
“Chinese parents spend over 30% of their income on education, 76% of that on private education. There’s a market and a need, and private [education as a sector] is still growing,” said He.
“When parents don’t know about their kids, what’s going on, they get frustrated, because they are spending so much money,” she said.
PhewTick, a Japanese startup, is focusing on the college student demographic.
“We’re trying to focus on people who are broke,” Kaz Naya, CEO of PhewTick, an app where people cash in points for money by meeting new people.
What if no investors bite after this pitch? The conference provides plenty of opportunities to connect.
“It’s a great screening process,” explains Naya. “Of all the investors out there, 95% won’t be interested. We want to find that other 5%.”
He adds, “The purpose is to connect. I talked afterwards with interested investors from China and Silicon Valley.”
Vimention CEO Tomi Hiltunen, from Finland, agrees. Being at the conference in China provides the unique opportunity of connecting with those who have insight into the emerging Internet force.
“The US and Europe [internet market] are still bigger than China alone,” he said. “Our goal is to find a Chinese Internet company to be our companion. Local companies know how to gather money and develop so it [the product] is good for Chinese users.”
Follow the Great Wall Club and the Great Mobile Internet Conference for more updates on GMIC2012 and G-Startup2012.