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Startup event gets mixed reviews

2016-April-11       Source: Szdaily.com

Thirteen startups presented their companies to an audience and potential investors at the Big Salad event Saturday at the Nanshan Cultural and Sports Center. A U.S.-based venture firm and an audience of 1,000 listened to business pitches.

Thirteen startups presented their companies to an audience and potential investors at the Big Salad event Saturday at the Nanshan Cultural and Sports Center. A U.S.-based venture firm and an audience of 1,000 listened to business pitches.

Among Saturday's presentations, Cheluobu, a high definition olive lamp-based vehicle navigation system, won the most investor votes.

Lukas Hlavac, a Shenzhen-based engineer, explained his product on stage. He runs an Asian fashion e-commerce platform. In Mandarin, he said his team can sell Asian fashion overseas, changing the current e-commerce mode. "Unfortunately we did not win," said Hlavac's partner Steve Murray. "But it's a great fun for us and we met a lot of investors there."

Dave McClure, co-founder and CEO of 500 Startups, who was a guest speaker at the event, had warned against overvaluing companies. "Values of assessment should be considered in a rational way, unless your company is Xiaomi," he said.

McClure said Shenzhen still needs to catch up with Beijing and Shanghai as far as business opportunities go.

"I won't spend time joining Big Salad," said a local maker surnamed Zhao Saturday. "All I saw was a big show and superficial talk on stage. A real entrepreneur has no time for that."

Four teams with members from outside of China agreed that the event had provided them a bigger platform to meet investors and potential clients.

Editor: Chan

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