How researchers can build great startup in China? - 3 lessons I learned

Hang Chen ZJU / SFU / Co-founder and CEO of kujiale.com

Lesson 1My father as a researcher is also a good entrepreneur,

which strengthen my belief

Kujiale’s idea: Home decoration is really bad experience for mostly everyone in China

With kujiale.com - design your home and make what you see what you get

Lesson 2 - Find Product/Market Fit (PMF)40% rule: at least 40% percent of surveyed customers (users) indicate that they

would be "very disappointed" if they no longer have access to a particular product or service

About kujiale.com• Founded by 3 CS graduate students

• Easy-to-use design tool - make VR applicable to everyone

• Real-time render with self-built GPU-CPU cloud service

• 4,000,000 registered users, 1500 business customers

• Renders 200,000 VR pictures each day

• 10,000,000 structured home data throughout China

• Valued 300M USD by GGV (invested Houzz), IDG, etc.

Use artificial intelligence to build world's largest product knowledge graph, which helps optimize the supply chain of cross border e-commerce.

Another example of big data startup: Club Factory.

Lesson 3 Opportunities of big data

Eat Live TravelWear

2011.11.11 - 3.4B￥2016.11.11 - 1.2T￥

2011: 0 2016:10M+ meals/day

2011: 0 2016:10M+ travels/day

<A Tale of Two Cities>, Charles Dickens

“It was the best of times, it was the worst of times”