global alliance - technology ventures between us and asia pacific cie-sea fall conference, sept. 23,...
TRANSCRIPT
![Page 1: Global Alliance - Technology Ventures between US and Asia Pacific CIE-SEA Fall Conference, Sept. 23, 2001 Ronald Chwang, Acer Technology Ventures, America](https://reader036.vdocument.in/reader036/viewer/2022062407/56649e2a5503460f94b17b1c/html5/thumbnails/1.jpg)
Global Alliance - Technology Ventures between US and Asia Pacific
CIE-SEA Fall Conference, Sept. 23, 2001
Ronald Chwang, Acer Technology Ventures, AmericaChairman & President
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Elements leads to Venture Success
• IdeaBetter faster cheaper; Brave new world
• TalentVision, execution, experience
• MarketCustomer demand, value proposition
• CapitalSelf-generated profit; external investment
• Bond by a common interest - return for all stack holders
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Cross Pacific Venture Model - North America focused
Market
Stockexchange
North AmericaAsia Pacific
Idea
Talent
Investment
Talent
Investment
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Cross Pacific Venture Model - Asia Pacific focused
Market
North AmericaAsia Pacific
Stockexchange
Market
Idea
Talent
Investment
Talent
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Successful Examples
• Semiconductor Industry (Taiwan /US)Wafer FoundryAssembly & testingFabless Chip Design Companies
• Software Industry (India /US)Programming outsourcingIT consulting and servicesApplication development & remote support
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Recent factors driving new venture models• Internet & Communication
InfrastructureEnable better global product & business collaboration
• Growing number of Asian EntrepreneursIdeas and talent
• Opening of China domestic marketPotential for self-sustaining growth
• Availability of Asian based venture capitalMore knowledgeable on Cross-Pacific investment
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Cross Pacific Venture Model - New evolving model
Idea
Market
Stockexchange
North AmericaAsia Pacific
Stockexchange
Talent
Investment
Idea
Talent
Investment
Market
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Acer Technology Ventures
• Acer Group venture investment arm since 1997
• Structured as an independent professional venture fund management company
• Funds under management: - ATVF - $40 million (100% Acer) - IP Fund One (May, 2000) - $260 million
(40% Acer/60% institutions)
• Active value-added investment style
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TaipeiTaipei
Shanghai Shanghai
Singapore Singapore
• Greater China, India, & Singapore• Leading edge manufacturing• System integration• Service & channel infrastructure• Expansion stage
Asia Pacific Focus
Silicon ValleySilicon Valley
• US & Canada• Technology innovation• Hardware, Software IP& product• Leading edge Service infrastructure• Early stage
North America Focus
Cross Pacific Value add
Acer Technology Ventures
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The Greater China Opportunity• It is not an over-night sudden
phenomenon• Well orchestrated, staged, progressive
and effective opening up• Challenges and uncertainty abound• Three driving factors :
– Availability of human resources– Potential of huge domestic market– Embracing the Global community : WTO,
Olympics 2008
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The Year 2000, a Watershed Year• China replaces Taiwan as the world’s
third largest hi-tech hardware supplier.
• Taiwan players contribute more than half of China outputs
• Taiwan hi-tech manufacturers intensified the offshore movement. The first time over 50% was made overseas.
• Over 30% of Taiwan companies’ manufacturing is based in Mainland.
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China-bound Investment from Taiwan• The PULL
Huge potential local market Abundant resources (labor, land, engineer,….) WTO and China’s opening up Follow the supply-chain foot-step
• The PUSH
Taiwan’s uncertain macro-economy outlook Cost and efficiency of the business environment MNC customers’ urge to move forward Potential exit for excessive funds
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Venture investment in Taiwan• High-tech and global business focus• Successful venture investment
practice• Well accepted entrepreneur
incentive system• Matured corporate governance and
SEC regulatory control• High Liquidity stock market
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China Challenges: Entrepreneur maturity
• Vision does not equal to Execution• Separation of management and
ownership• Corporate governance and
transparency• Building solid business vs. making
deals• Technology focus vs. Customer focus
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China Challenges: Market and business risks• Government policy can influence
economic decision• WTO accession - not an overnight
panacea to China problems• Fragmented markets• People Centric / Guanxi• Respect and protection of IP
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China Challenges: Return on Investment• Legal, judicial and commercial
support infrastructure• Professional private venture
practices• Regulatory constrains and
interpretation variance• Sound and clear investment exit
path for foreign investments
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Venture opportunities in Greater China
• Wireless technology and applications• Photonic industry• Seamless heterogeneous
telecommunication infrastructure solution
• Software OEM/outsourcing and remote support
• Biotech and healthcare
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摸着石头过河Feeling the stone while crossing the river
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Focus, determination, and perseverance!
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Together, we shall steer through the rough sea!