Fortune China Innovation Award Competition #1
The annual FORTUNE China Innovation Award Competition showcases the best of China’s tech start-ups.
good afternoon. Welcome to the first segment of the foot in China. It always in the worst contest will be showcasing the past of China's tax startup Varity. Off sectors. We started by thinking out nomination from highly qualified sources. The top venture capitalists. Another expert who took track emerging companies, Fortune Editor conducted several round about careful with elections, issued it extraordinary Group of nine. Finally, over the next two days, they will present impeached the company live here on the stage. Now we explain the contest procedures. You have three seconds in each segment. There are three contestants. Each contestant will have four minutes for presentation, followed by comments and questions about the judges at the end of each category. We like to have both the judges on audience tow boat using the hand held devices that are in front of you. The names of the winners will all be revealed tomorrow. You are closing session now. Our competition segment one formerly starts. Let's welcome our first artist, Wilton View. Then you soon from the normal home home. A madam Well, companies take seats Now we'll be the three finalists in the competition. The 1st 1 You're welcome Gilbert. Itwas plus young. You feel old? Yeah. Dear God. Good afternoon. First of all, I'd like to thank for this opportunity. The product is Robart Plus plus Aerial Roberts. All vision is to enable the market be free off dangerous work. Our company was established 2015 originally from Hawaii University Research Institute, where the first company doing this special aerial operation. Gilbert, we're applying our technology in shipping and other chemical industry. So the poor funding team are the seal from Hawaii University who have worked in the field for many years. But also we have a deal. And other people we have also Consultant Ian, Professor one. Leaping is the director of Research Institute, both Julia north of Mechanical Department. This is the awards we have obtained from stage I'm from the provinces. The abdication scenario, including Hyde role wing farm, chemical solder, a power seeking ports, real way tunnels, bridges there. 26 industries was involved in drug operation. The child commonly seeing tenders industries. Right now, all in those scenarios, basically the existing traditional spider Man, the, uh, lifting basket on, uh, scaffold. They come employees, they're that dangerous because working in the high our latitude by using Robert will solve the problem of risky operation improved. The opera quality follows a lowering the cost. Those are some of our products you can see from you for yourself. The main purpose function is the polishing and the scaling. Something like that. Those are the mature products and W R 01 is like I rust removal, Robert Spring rubbers and ah, tank policing Gilbert. So those are technology on one pitches. So all products have some unique, uh, functions and characteristics. We use a modular drive unit, super magnetic materials. Also, we have introduced a huge amount of ai ai religion technology At one teaches our new technologies, including a I so modeling technology and optimal wrote tracking interoperate 16 2020 16. You know, we started our first product. Right now we have completely four rounds off financing an investment. Now we're going to introduce the folding application. Those are our main partners. These are some over specific product in the shipping industry, Rust removal, et cetera, et cetera. This is also the chemical Tang tank. Uh, cooling and inspection is for the Heidel furnace or bowler water. Quoting wall inspection, Roberts finally I'd like to see. We have selected a heavy duty to free the industry off the dangerous work. We will do our best to make our product even better. Thank you very much. Now they're comin from the judges. Thank you. In the aerial Operation Special fill the future. Robert will replace human beings. This is inevitable trend. Especially in some off the field. We can start as early as possible. You have the first mover advantage. Bottle will be helpful for us too. Yeah, to come up with some unique solutions. I like a custom that solved the problem. Existing, I believe by a practical insurance experiment. You really consult someone off a problem? Many company cannot do this. The question have you for your company right now. In addition, toe working on special fills to realize that high, risky operation based on some of the civilian industry to have anything you have done something yet? Counsel in your mind company. Visibly other competitors in this industry. What are the technical barriers In which error? What kind of competitive had wanted to have no Mr Soon? You're any comments I'm cared about right now? This aerial operation, legendary sipping Operation Rust Removal. What is the skill of the market right now? Right now, Right now, The market overseas and in China. What is the competition? What kind of competitive to have, what is what is your competitive advantage? So now you'll have already quite a few questions in this industry. Most of that is individualized, very difficult to standardize. How did you manage to realize the standard citation you mentioned? Six. Standards Product. What is the quality of your product? Because applications scenarios vary from one interstate. Wanda. So how do you see the future applications? It's not easy for you to double up to what you are today. She'll want to know where is the leading institute? So what are your main challenges you're facing right now? So now there are so many questions, But I tried to be concise. First of all, indeed, we did some of the experiment on the ground before we climbed to the high wall. So we completed all the wrong religion. So because the initial car you will climb, the wall will be the cost will be very high. We have all the rubber for cleaning. Windows are sweeping the floor, are we already have ours. It's a small company. We cannot compete with the super big giants. So this is why we're self guided aerial operation, highly risky areas to work for. What is your second question? The barriers and I want a competition at wanted industrialization, our understanding about a scenario. We have accumulated a lot of experience, something working. The lab cannot do that. On the other hand, we rely on Shinhwa University, which started working in this industry 30 years ago, accumulating a lot off experiences, technical accumulations, huge ai ai technology and other technology. Retinol. We are the only company, some off the field. So those are the monster. Research could be included into our team and our team. Yes, also were structured. Our team leader was born you 19 nineties and he has very entrepreneurial and therefore all team members. We at our twenties and the thirties. So we have reach experience unit project's execution, which is very important for start of company and the new quest for years about our competitors and the where, yes, deceiving in the market at the beginning, because I joined our company just two years ago. So I has inspired by division off this company a beginning. I also I'm concerned about the market science, but now I came to come to realize that the market's years very large. As for us, we know they're more than 214 aerials and the each scenario they need about 10,000 Roberts. So the market is very large for international competition. First, we there about three three major regions about United States for the Mediterranean region as where our support used to Asia. A German company. You, yes, dominating the Mediterranean region. They are market leaders which started very early. But it's also kind off with the story called Package. There you are U S company and the Canadian company also launched around 2014 15 but afford therefore the for market of science. We believe that we can be as large as these two companies combined because comets idea science is about 10 meeting again 10 million U. S. Dollars. So I hope that I have answered your questions and I like to think for your targeted the questions because these questions actually are related to the biggest challenges facing our company. Either passed there two years, I also wish to highlight that for all the key members off our team, We have a kind off for modular thinking at the beginning. Here we try to base our products are models. Take our about. For example, we have integrated about so that we can strike a penance between Taylor made the products. As with US largest scale production, these will also help us control risk. At the same time, we are also deeply integrating with our clients in order to have insights into different scenarios in order to resolve various challenges. We have bean working together with a leading company in China on this issue. Thank you. No, thank you. Thank you very much for your the signal and the contestants. Yes, Mr Law, it's alarming. CDO off wantto bio gene, the judges and the Castellana Gentleman, please First take a look at the video off our company. I'm told by Oh, Gene Yes. Based on the science city off. So it iss company engaged. The biotechnology business has a production on the R and D base covering more than 1000 square meters. It has its own workshop and the quality control center. We streets followed that U M P standers in building two large packaging workshops Compliant away Standard way also have quality laps as where us our system. We get ID at her leukemia that we introduced a very technologies to provide the various technical service is for for patients. We also promote the commercialization off our products. Biology has entered into agreements with the number off hospitals way Have you established a motive center Treatments of platforms? BG it 17 has bean applied ways encouraging outcomes in clinical trial Bio Jean Yes. Leading the biological industry in China in the service off humanity. So our company is a focused of a new type off current e stale research The product they are kind off leading products in the world to products in the world have been approved and therewith treatment rates off over 80%. Our first of products RBG t 19 has conducted clinical trial These yes, the first case off acute leukemia. So four years after this case, the single has bean medicated. Due to the safety and the effectiveness of our products, we have applied for i nd application with CD you additional. We have also other products for international competition Carty has Bean applied successfully. Your blood, the tumor where our products have covered most applauded humors like acute aloof or plastic leukemia, myeloid leukemia and a multiple myeloma. And we also developed a new targeted therapies and improve our existing products. For example, we for the lung cancer. We have our own platform to increase the decorative Innis off the county cell in areas around that tumor, 60% off. Our staff have master degree and the above and many off our executives was walked again. Famous pharmaceutical companies and that we have applied and guards more than him painted patents and that we have entered into a cooperative relations. We is more attention off leading hospitals in China, and our major investor years had a A group which has invested more than 20 humor hospitals. So we have first arranged a team and then we have applied for R and D for our first of products and that we also have intense cooperation with our shareholders. So we would like to save more life and create more miracles. Thank you. Thank you, Mentor. Longing for your introduction. Now our judges have some questions for you and the one question One answer, please. My question for you. Years, Dad Carty has become a kind off, uh, a major and a new solution for lease kind off disease facing humanity. So I'm very optimistic about its application. So one thing I want to know from you is that compare with similar products overseas s Oh, yes, dear. In the GAM, pity Chinese products of your product. We's international products. How large? Yes, the camp. And, uh, this calf years theoretical gap or in clinical trial. As for us, I know CDL 109 has bean under market. So my question for years that in order to catch up with your international competitors how long it will take Thank you for your question in Doug pharmaceutical industry at years instead, that worm promising area that's gonna catch up. Western United States. Yes, Conti. The then us has two products, and around the end off 2017 China begin to allow the registration off county as a kind off medicine. I believe technological lee the gap a pitching China in the States is not a large and a 1,000,000 Chinese companies have their own proprietary knowledge and the technologies so we are on the same starting line and we are all about to make a breakthrough. We believe that it will take on a little time, a little more time for us to make a breakthrough. So I do not think that the happiest large. Thank you, Miss Jessel. I have two questions for you at the first of work years about the bio research. Lee's research field. Yes, very risky. And it takes a lot of time. And a few investors can go a lot with you from the beginning to the end. I mean, the clinical trial and the commercialization. So you have chosen these feuds and do you think you are risk of resilience and my signal question? Yes, Pile technology sector also mean stands. You should have food accumulation off technologies and expertise. How could you convey homecomings, investors, potential investors off your capabilities. Thank you very much for your good questions. For your first question, at least, business is risky. I agree with you there. Yes, No shot cut In the biological sector, you have toe accumulate a lot off things so that you have a feature off lease industry. But the sea is noted excuse preventing us from making forays into lease feud. Indeed, we human beings need to these kind off products The second question How to convince our potential investors, I believe. Just know I mentioned that technologically we found leading front off lease technology in China. There are many favorable conditions in China, For example, we have a lot off clinical trial resources. Many a Chinese doctors are very experienced, so the oldies will be very helpful to us. So police cried off a new product. There may be some downside or negative side effect. So the mentoring Chinese doctors can help us with these. Another thing? Yes, that for governments, off equity investors, they are all very supportive off lease industry. This will help us to a push our endeavor forward to the benefits off our patients. Thank you. London home to products got markets in 2017 and has become the most popular topic for investments in the following year. Now it has been cooled down a little bit. No, a practical question for you. Yes. Dance these ah project Actually yes, incubated with Haydee group and you are doing the early stage off clinical trial. You said that tiny estates are on the same starting line and that they are being face one. And you are very, really ahead off lease and you need to go through a face one and the face, too. So for find them thing issue that is a Channing. So even after face three, you know, dancer, there may be some price competition between you and your competitors there. How to recover your investment. Thank you very much for good questions. I wish to clarify that. I mean, there's our two countries are basically are the starting line. No, it's our company years on the same starting line with our U. S. Account of hearts. I agree with you that we're student, the pre stage off a clinical trial and that there will be many risks. So my crystal boy, So So, yes, that we would like to formally, it's a more original products for international competition in the early stage are our shareholder group would like to support us, but in the future, we were also actively finance foes in the capital markets in order to distribute, uh, risks. Thank you. When it comes to pricey, I wish to say that these products are quite expensive in the United States. So we have a mission that we want to cut the price offer these products so that Chinese patients can also afford these. Well, we have taken various approaches to control their prices. Thank you. Next. Yes, Mr Igor, Founder and CEO off Muster Kotex Please watch our video please. So hopefully you can see the gold prices. You can also go. The product will be delivered by experience to your boss and that the Shanghai Go to star reach that goat Exchange has also designated our partner facility So at least we would like to resolve the existing issues in the gold industry. Though there has been regarded as the most loyal assets off humanity Attorney is already the global and largest though the producer consumer and important So we have yes fabulist start up company for the sale and afford a storage and the distribution off Goat go the industrious very recent and the traditional with many challengers in pricing, that acting convertibility and the storage. So there are many challenges The network of penetration rate she is destined to percent. So as you have seen that in the past it. It was quite difficult to approach us and convert goat now. So no, I wouldn't do with Chester take off five seconds for you to purchase the goat. And that can be converted back into cash with you the 24 hours so they appoint a few off opportunities. And it's a very efficient way. Haida least cap. You can't see a lot off technological applications. We have order technologies off the era, artificial intern edges to recognize user and gold commodity thinking of big data and your butane off photo off a product. There you can you can see whether you can check whether the product is real gold or not. The technology is based. Ah, the big thing. And, uh, you know that addition toe a dictator. We also have a Blockchain they tow are beyond the change of the whole thing. And we also have insurance technology for tempo lease this kind of data years available only to our company because our company's owner off such data, we have found the distribution off goat Well, don't probably these province yes, the largest owner off goat in trainer and the time we have also improved marketing environment. Usually you can change hands off goats on there by 10 to 2 return times now and that we have increased the frequency of traditions by well 100 times. So lease well, you improve the experience off our customers. Juma's in two of these launching here, Bunty established a partnership with us, followed by other Internet companies as well as other companies. The addition to China, India and some other countries were also become our future markets. The purpose, yes, that the photo op be flowing smoothly without and their restrictions and the we know well have some jewelry to the re products accessory products in the near future. So those held by people with beautiful life that use our mission statement So judges the floor is open for you to raise questions. I have two questions. The first question years that have you, huh? That the business, what he has just feeding off your business, how large will be the future markets for your business and the signal Cranston in years and the lease process, you have adopted the eye technologies facial recognition where object recognition. So for the fourth year, technological adoption that such attacks do such technologies really replace human labor and how much can be saved by such technologies for a company and to what extent? 90 years of my question. Thank you. We have a huge market for gold, more than 170,000. So for treating on tthe e annual consumption in China is a 500 million, so 30 trillion transaction volume. This is the spot market. Additionally, you know all the participants. You definitely have the reservations at home for the goat, certainly for our team. The reason we adopt such cutting edge technology because last year our transaction value exceeding 10 beating on that recycled value. This year, more than one billion on the Web sing the surging price off the gold price because off the uncertainties between you, you as in China, trade. So for the technology we wanted, uh, technology can raise place, hold the labors. But we have 30 plus. Our anti people only myself is engaged in the marketing work on also for the technology application 30% like a Blockchain on the recognition of our commodities on the detection and the testing technologies. They are our indigenous technology, self developed on official recognition, so We're not starting from scratch, mister. Please comment. I'm very interested in your project because of you. You sense this is a crazy idea. But what I care more is how did you come up with such a nice idea for the gold lifecycle business? And this is a kind of trade or transaction tackle. That is my first question. What's the story behind the? Secondly, when you build up this transaction platforms because you are trying to attract those gold from the private individual household that you were talking about trading on buildings and nothing to do with you because those are the governmental goats. So if you are tryingto attract private gold, how do you build up your credibility? Because, you know, general public, the general society, they would go to the bank and go to the shop to purchase gold. How can you teach your platform and attractive general public will come to you to purchase and to do the transactions? How do you persuade people to do the like a secondhand market? I you didn't give me the answer. Thank you for your host off questions. Not easy to answer, You know, a succinct away. We have a team on DDE originally away one toe invite a young union A previously be on DDE. She used to work in the Silver River like transaction platform for more than one decade. I used to work in the media so we were not starting from scratch. We had the deep knowledge with regard to goad on the the global contacts currently is uncertainties on dhe, especially the currency and some cities is a very solid foundation for the gold. I forgot your second question. Sorry. Business model My question is a business model hung Could you guarantee the general public Go to your platform on also, instead of going to the shops are going to the bank are going to the pond you know, tradition channels How do you overcome these for the conventional channels? They are our customers. Klein's, because of what we are providing is providing services to the whole industry Until for the ponds, you know is one of our largest The contractor Arben they see to ask way just to remove the surveys sec amended in In the pattern is a factory to ma be toe bigger be to see. But now we do not any. You know, service is so if you open our app. Oh, the pub's Oh, the shop. Oh, the bands. You now can use our platform One final judge. Thank you for your answer. Because we don't have much time. Life? I don't want to add any business related questions. You were talking about the 10 feeding on the one billion transaction to need a permit or lessons? Yes, We need the golden license because the reveal process is a very strict Is a Shanghai Gold Exchange. Give the approval. We already established our company for four years. So we got the license on our shareholder. Including Citic is so yay under Shanghai changer. Uh, members days. You didn't get the license? No, we got a license. I as I explained, you have 30 seconds credibility credibility to step the first step. But we use current a platform if you open a bank app. You know you're under the bank, Abby. You can see our working together with the bank on the future. We would use the JD and other online platform to do. Our direct reason is to step is thank you very much.