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Global Alliance - Technology Ventures between US and Asia Pacific

Global Alliance - Technology Ventures between US and Asia Pacific CIE-SEA Fall Conference, Sept. 23, 2001 Ronald Chwang, Acer Technology Ventures, America Chairman & President. Elements leads to Venture Success. Idea Better faster cheaper; Brave new world Talent

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Global Alliance - Technology Ventures between US and Asia Pacific

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  1. Global Alliance - Technology Ventures between US and Asia Pacific CIE-SEA Fall Conference, Sept. 23, 2001 Ronald Chwang, Acer Technology Ventures, America Chairman & President

  2. Elements leads to Venture Success • Idea • Better faster cheaper; Brave new world • Talent • Vision, execution, experience • Market • Customer demand, value proposition • Capital • Self-generated profit; external investment • Bond by a common interest - return for all stack holders

  3. Cross Pacific Venture Model - North America focused North America Asia Pacific Idea Stock exchange Talent Talent Investment Investment Market

  4. Cross Pacific Venture Model - Asia Pacific focused Asia Pacific North America Idea Talent Talent Stock exchange Investment Market Market

  5. Successful Examples • Semiconductor Industry (Taiwan /US) • Wafer Foundry • Assembly & testing • Fabless Chip Design Companies • Software Industry (India /US) • Programming outsourcing • IT consulting and services • Application development & remote support

  6. Recent factors driving new venture models • Internet & Communication Infrastructure • Enable better global product & business collaboration • Growing number of Asian Entrepreneurs • Ideas and talent • Opening of China domestic market • Potential for self-sustaining growth • Availability of Asian based venture capital • More knowledgeable on Cross-Pacific investment

  7. Cross Pacific Venture Model - New evolving model Asia Pacific North America Idea Idea Talent Talent Stock exchange Stock exchange Investment Investment Market Market

  8. 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

  9. Shanghai Cross Pacific Value add Silicon Valley Singapore North America Focus Asia Pacific Focus • Greater China, India, & Singapore • Leading edge manufacturing • System integration • Service & channel infrastructure • Expansion stage • US & Canada • Technology innovation • Hardware, Software IP& product • Leading edge Service infrastructure • Early stage Acer Technology Ventures Taipei

  10. 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

  11. 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.

  12. 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

  13. 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

  14. 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

  15. 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

  16. 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

  17. 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

  18. Feeling the stone while crossing the river 摸着石头过河

  19. Focus, determination, and perseverance!

  20. Together, we shall steer through the rough sea!

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