China no longer needs to “borrow ideas” from America, but created new innovations of her own.
‘Made-in-China’ innovations: from messaging, mobile payment, bike sharing to live streaming. I am truly inspired by the new generation of Chinese innovations, entrepreneurs, and energy.
SINGULARITY IN CHINA
9-9-6 Work Ethic: Entrepreneurs are working 9 a.m. to 9 p.m. (or midnight), 6 days per week.
Chinese Innovation on the Rise
One factor that is driving a vibrant entrepreneurial engine is the massive availability of capital.
Due to strict restrictions on the outflow of capital, the wealthy in China are investing more and more cash into Chinese entrepreneurs, driving a frenzied ecosystem and driving up valuations.
The typical Series A there ranges from $15 million to $100 million.
China has also committed to becoming a world leader in Artificial Intelligence.
Amazing Startups: creating a new generation of Chinese Unicorns
CHINA NEW VISION
China is a manufacturing powerhouse producing 25% of the world goods and 70% of its mobile phones.
Today there is a waiting list of 600+ Chinese companies waiting to go public.
Let’s talk about manufacturing. 100 million people in China work in manufacturing.
FOXCONN is the world’s largest contract electronics manufacturer. Notable customers include Apple, Kindle, Playstation and Xbox.
In 2015, China became the world’s largest producer of photovoltaic power.
China also led the world in production and use of wind power and smart grid technologies.
China owns 70% of the commercial drone market.
China has also increased their space budget considerably over the last few years.
And their human spaceflight programs is very serious.
China has truly become an international technology superpower.
China from deceptive to disruptive
“In some ways, incumbents have a lot of benefits over new players, over start-ups. They have customers, they have great data, they often have a brand. They have financial resources, which a start-up may not have. The question is, can all of those capabilities and assets be deployed in a way that allows you to defend against new attackers as digital disrupts your industry?”
– Paul Willmott | Director at McKinsey
“In today’s world of exponential change, organisations that get too comfortable with the status quo are at major risk of disruption. If you’re not experimenting and, as a director, if you’re not asking questions about how your organisation is navigating and plugging into disruption, forming new ecosystems, and tapping into open markets, then your organisation is at risk. In the area of talent alone, if you’re not leveraging talent outside your organisation, you’ll never win the war of ideas because the smartest people in the world don’t work for you.”
– Andrew Vaz | Global Chief Innovation Officer at Deloitte
“The biggest impedient to a company’s future success is its past success.”
– Dan Schulman | CEO of PayPal
“When digital transformation is done right, it’s like a caterpillar turning into a butterfly, but when done wrong, all you have is a really fast caterpillar.”
– George Westerman | Principal Research Scientist with the MIT Sloan Initiative on the Digital Economy
“Most of the executives I talk to are still very much focused on digital largely as a way to do “more of the same,” just more efficiently, quickly, cost effectively. But I don’t see a lot of evidence of fundamentally stepping back and rethinking, at a basic level, “What business are we really in?”
– John Hagel III | Co-Chairman at Deloitte LLP Center for the Edge leaders
“At least 40% of all businesses will die in the next 10 years… if they don’t figure out how to change their entire company to accommodate new technologies”
– John Chambers | Executive Chairman, Cisco System
“Data is fact, not truth. I still feel it’s a little dangerous for brands to throw out intuition and common sense and to only obey what the data tells them. Is A actually better than B, or is it simply the lesser of two evils?”
– James Peck | The Iconic
“We should no longer be talking about ‘digital marketing’ but marketing in a digital world.”
– Keith Weed | Unilever, 2015
“Disruptors don’t set out to beat you at your own game — they change the rules.”
— Kai Riemer, Digital Disruption Research Group
“True disruption changes an approach to make a product or service more accessible or more affordable.”
— Damien Tampling, Deloitte Tech
– The priority for digital transformation of Chilean companies with USA and Asia as models.
– The digital transformation of companies or even countries, it is not about what technology to integrate, however, how to integrate the digital cultural mindset in your organization, then the technology integration will accelerate the process.
– Learning process to develop the new skills for ceos is the key to facilitate or obstacle to digital transformation
– Focus on themes as a country where we have strategic advantage, like minning, solar energy, seafood, services in latam
* review digital summit notes in twitter