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Vincent PRETET [email protected] Yan HUANG 33entrepreneurs Bordeaux, France CONTACT 111001101011111100101100010100011011100110101100000111100101100010100011011100110 11100110101111110010110001010001101110011010110000011110010110001010001101110011010 11100110101111110010110001010001100010111100101101001010100000111100101100010100 1110011010111111001011000101000110001011110010110100101010000011110010110001010001 1110011010111111001011000101000110001011110010110100101010000011110010110001010001101110 011010011010110000101111001011010010100010111100110101101111001011001110101011010 011010011010110000101111001011010010100010111100110101101111001011001110101011010 111001101011111100101100010100011011100110101100000111100101100010100011011100110 11100110101111110010110001010001101110011010110000011110010110001010001101110011010 111001101011111100101100010100011000101111001011010010101000001111001011000101000 1110011010111111001011000101000110001011110010110100101010000011110010110001010001101110 011010011010110000101111001011010010100010111100110101101111001011001110101011010 11100110101111110010110001010001101110011010110000011110010110001010001101110011010 111001101011111100101100010100011000101111001011010010101000001111001011000101000 1110011010111111001011000101000110001011110010110100101010000011110010110001010001101110 0110100110101100001011110010110100101000101111001101011011110010110011101010110100 100010100011011100110101111110010110001 10011010111111001011000101000110 001010001101110011010111111001 01000110111001101011111100101100 01101110011010111111001011000101000 01011001110101011010011010110000101111001 101101001101011000010111100101 101000110111001101011111100101100010100 01110011010111111001011000101000110111 11000101000110111001101011111100101100 0011011100110101111110010110001 0110011101010110100110101100001011110010 01101110011010111111001011000101000110 00101100010100011011100110101111110010 1000110111001101011111100101100 10101101001101011000010111100101101001 Investing in Food, Travel, Wine&SpiritsTech Chinese insights ©33entrepreneurs 2015 A report by 33entrepreneurs - 2015 Q2 1,600 StartUps reviewed 180 in-depth analysis Graphic design by [email protected]

Chinese StartUps

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Page 1: Chinese StartUps

Vincent [email protected] HUANG

33entrepreneursBordeaux, France

Cont

aCt

111001101011111100101100010100011011100110101100000111100101100010100011011100110101111110010110001

111001101011111100101100010100011011100110101100000111100101100010100011011100110101111110010110001010001101110011010111111001011000101000110001011110010110100101010000011110010110001010001101110011010111111001

111001101011111100101100010100011000101111001011010010101000001111001011000101000110111001101011111100101100

1110011010111111001011000101000110001011110010110100101010000011110010110001010001101110011010111111001011000101000

011010011010110000101111001011010010100010111100110101101111001011001110101011010011010110000101111001

01101001101011000010111100101101001010001011110011010110111100101100111010101101001101011000010111100101

0110100110101100001011110010110100101000101111001101011011110010110011101010110100110101100001011110010

1110011010111111001011000101000110111001101011000001111001011000101000110111001101011111100101100010100

11100110101111110010110001010001101110011010110000011110010110001010001101110011010111111001011000101000110111111001101011111100101100010100011000101111001011010010101000001111001011000101000110111001101011111100101100

1110011010111111001011000101000110001011110010110100101010000011110010110001010001101110011010111111001011000101

11100110101111110010110001010001100010111100101101001010100000111100101100010100011011100110101111110010110001

0110100110101100001011110010110100101000101111001101011011110010110011101010110100110101100001011110010

11100110101111110010110001010001101110011010110000011110010110001010001101110011010111111001011000101000

1110011010111111001011000101000110111001101011000001111001011000101000110111001101011111100101100010100011011100110101111110010110001010001100010111100101101001010100000111100101100010100011011100110101111110010

111001101011111100101100010100011000101111001011010010101000001111001011000101000110111001101011111100101100

01101001101011000010111100101101001010001011110011010110111100101100111010101101001101011000010111100

01101001101011000010111100101101001010001011110011010v1101111001011001110101011010011010110000101111001011010

01101001101011000010111100101101001010001011110011010110111100101100111010101101001101011000010111100101101001

111001101011111100101100010100011011100110101100000111100101100010100011011100110101111110010110001

111001101011111100101100010100011011100110101100000111100101100010100011011100110101111110010110001010001101110011010111111001011000101000110001011110010110100101010000011110010110001010001101110011010111111001

111001101011111100101100010100011000101111001011010010101000001111001011000101000110111001101011111100101100

1110011010111111001011000101000110001011110010110100101010000011110010110001010001101110011010111111001011000101000

011010011010110000101111001011010010100010111100110101101111001011001110101011010011010110000101111001

01101001101011000010111100101101001010001011110011010110111100101100111010101101001101011000010111100101

0110100110101100001011110010110100101000101111001101011011110010110011101010110100110101100001011110010

1110011010111111001011000101000110111001101011000001111001011000101000110111001101011111100101100010100

11100110101111110010110001010001101110011010110000011110010110001010001101110011010111111001011000101000110111111001101011111100101100010100011000101111001011010010101000001111001011000101000110111001101011111100101100

1110011010111111001011000101000110001011110010110100101010000011110010110001010001101110011010111111001011000101

11100110101111110010110001010001100010111100101101001010100000111100101100010100011011100110101111110010110001

0110100110101100001011110010110100101000101111001101011011110010110011101010110100110101100001011110010

11100110101111110010110001010001101110011010110000011110010110001010001101110011010111111001011000101000

1110011010111111001011000101000110111001101011000001111001011000101000110111001101011111100101100010100011011100110101111110010110001010001100010111100101101001010100000111100101100010100011011100110101111110010

111001101011111100101100010100011000101111001011010010101000001111001011000101000110111001101011111100101100

01101001101011000010111100101101001010001011110011010110111100101100111010101101001101011000010111100

01101001101011000010111100101101001010001011110011010v1101111001011001110101011010011010110000101111001011010

01101001101011000010111100101101001010001011110011010110111100101100111010101101001101011000010111100101101001

Investing in Food, travel, Wine&SpiritstechChinese insights

©33entrepreneurs 2015

A report by 33entrepreneurs - 2015 Q2 1,600 StartUps reviewed 180 in-depth analysis

Gra

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Page 2: Chinese StartUps

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…at an increasing speed…More than 1,600 StartUpsinnovating in China

How do those 1,600 StartUps breakdown by foundation year?

A TRADITIONNAL MARKET TO DISRUPTTravel & Tourism direct industry GDP is expected to grow at an annual growth rate of 6.6% over the next decade. The Food and Beverage sectors are expected to be worth $495 billion in 2015.

How do those 1,600 StartUpsbreakdown into the Food, Travel, Wine & Spiritsindustries?

17% 20%

63%

Food Travel Wine & Spirits

base 100

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

Page 3: Chinese StartUps

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…namely in Beijing &Shangai… ...communicating in Chinese mainly

87%StartUps communicating in Chinese

13%StartUps communicating in English

11% StartUps listed in AngelList

or Crunchbase+

2% StartUps unlisted

30%Beijing

ShanghaiZhejiangJiangsu

28%

26% 16%

Hong KongGuangdong

FujianSichuanTianjinGuangxiHebei

Page 4: Chinese StartUps

2000 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

2003 2006 2007 2008 2009 2010 2011 2012 2013 2014

Nb of startups by foundation year

45

40

35

30

25

20

15

10

5

0invested by year

Nb of Financing Events by year

Massive investmentsin the top 180 Chinese startups ...mainly in tourism...

120

100

80

60

40

20

0

140

0

1

2

3

4

3%

$10.8bTop 180 startups

as of May 2015

37%

60%

Tmall and Taobao, the independent business under Alibaba Group, are the two biggest online shopping sites with over 60% market share, and got funded by Alibaba, which raised a total funding of $4.8b in 7 rounds. (excluded from the graph)

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Page 5: Chinese StartUps

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Seed Series A Series B Series C Series D Late stage

invested by stage

Nb of Financing

Nb of Financing Events

...a fraction of seed investments

120

100

80

60

40

20

0

140

0

1

2

3

4

64%Beijing

2%

8%

Hong KongGuangdong

FujianSichuanTianjinGuangxiHebei

ShanghaiZhejiangJiangsu

26%

Chinese English

...with US VCs capturing...

0 5 10 15 20 25 30

USAChina

Seed Series A Series B Series C Series D Late stage

Sequoia Capital China

MatrixPartner China

Tencent IndustryWin-Win Fund

Morningside Ventures

GGV Capital

DCM

Ctrip

CDH Investments

Gobi Partners

Top 9 investorsout of 175 and 302

financing events

Page 6: Chinese StartUps

1110011010111111001011000101000110111001101011000001111001011000101000110111001101011111100101100110001

111001101011111100101100010100011011100110101100000111100101100010100011011100110101111110010110001010001101110011010111111001011000101000110001011110010110100101010000011110010110001010001101110011010111111001

111001101011111100101100010100011000101111001011010010101000001111001011000101000110111001101011111100101100

1110011010111111001011000101000110001011110010110100101010000011110010110001010001101110011010111111001011000101000

011010011010110000101111001011010010100010111100110101101111001011001110101011010011010110000101111001

01101001101011000010111100101101001010001011110011010110111100101100111010101101001101011000010111100101

1110011010111111001011000101000110111001101011000001111001011000101000110111001101011111100101100010100

11100110101111110010110001010001101110011010110000011110010110001010001101110011010111111001011000101000110111111001101011111100101100010100011000101111001011010010101000001111001011000101000110111001101011111100101100

0110100110101100001011110010110100101000101111001101011011110010110011101010110100110101100001011110010

11100110101111110010110001010001101110011010110000011110010110001010001101110011010111111001011000101000110111001101011111100101100010100011000101111001011010010101000001111001011000101000110111001101011111100101101100033entrepreneurs is the first venture capital company in

the world focusing on food, travel and wine & spirits Tech startups.

Having unique capabilities in dealflow acquisition, we rely on sucessful entrepreneurs (aka Mentors) and proven methods from TechStars and the Global Accelerator Network to grow the next generation of entrepreneurs and great StartUps.

Based in Bordeaux, France, 33entrepreneurs is founded by entrepreneurs, funded by entrepreneurs, for entrepreneurs.

Want to know more about this report ?Contact us for more details.

ACCELERATING STARTUPSInvesting in the most promising teams and tech is extremely challenging. At 33entrepreneurs, we combine unique skills to discover the best teams worldwide and to grow them, from seed level, as future industry leaders.

UNIQUEDEALFLOW

ACQUISITIONat 33entrepreneurs

Web PlatformsApplications from

AngelList, F6S

Quantitative VCAutomated Search

from the Web

Investment AnalystsQualitative Searchon specific targets

StartUp ContestsFace-to-face meetings

in real life

Mentors’ Connections

Qualified targets

CommunicationSponsors, press& social media

University LabsTo build

in the future

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