Bertelsmann
View Brand PublisherWhat Indian startups must borrow from China’s playbook: Annabelle Yu Long on Building It Up with Bertelsmann
“Unlike other countries, just a good product isn’t good enough in China. It has to be great. You can't just tell people to use your product, you have to follow your consumers. It’s all about building a super product coupled with brilliant services, fast response and constant changes,” says Annabelle Yu Long, Founding & Managing Partner, Bertelsmann Asia Investments while talking about China’s transformation from ‘Copy to China’ to ‘Copy from China’.
China remains an inspiring neighbour for Indian startups. The multiple slivers of similarity between China and India - from consumer spending behaviour, income levels and even pain points - makes the former a much better market to look up to than any other country.
Today Chinese-origin investors are infusing millions of dollars in Indian startups across sectors including fintech, e-commerce and transport among others. This is a huge opportunity for Indian startups, as these investors not only bring financial assistance but also provide hands-on, tangible non-financial benefits that come from studying Chinese companies' successes and failures in navigating the domestic and international market.
On the other hand, Indian start-ups looking at global expansion must be prepared before entering and surviving in China’s fierce startup ecosystem. What are the business sensitivities and rule to keep in mind? “It’s hard to describe, and you really can’t learn it from any book,” warns Annabelle.
In this episode of Building It up with Bertelsmann, know exactly what it takes to go East with your business, what Chinese investors look for in Indian startups, and how China’s startups managed to reach the scale they are today.
