Reasons to Begin
April 1st, 2019 marked my first-day joining Venture Capital world at Genesia Ventures Japan. I understand that working in this industry is so hard with big mission and responsibility to support startups to grow, but also it gives me great chances to learn about innovation, entrepreneurship, startups operational management and to contribute to bringing more great impacts in society. In terms of these perspectives, I would like to share my experiences and insights gained when working as venture capitalist to readers who might be anyone who cares about startups and open innovation between in developed economies like Japan and in emerging markets like Vietnam and other South East Asia countries, via this website zunzunstartups.com.
As marking for the very first beginning of my adventure journey, I would like to start with a post named “Reasons to Begin” to always remind myself to commit and persist with the journey, no matter how hard and difficult it will be.
The following is 3 reasons to start my career as a Venture Capitalist at Genesia Ventures.
First, I strongly support reverse innovation from emerging economies to be an open innovation for developed economies. Majoring in Economics when I was a university student always makes me think about the importance of taking advantage of all resources in the resource-limited environment. And working experience in IT industry brings me a strong perspective of solving issues in the society by using technology. In the emerging economies like Vietnam, Indonesia, and other South East Asia countries, there are so many issues and obstacles that these countries are facing within developing progress, that brings the strong motivation for people to create the solution to get over from those challenges. One of the well-known examples of that is Fintech. Cashless payment seems more actively developed in emerging countries than developed countries where baking infrastructure has already well developed since the last several decades. In emerging countries, the low percentage of holding bank accounts but a high percentage of smartphone penetration makes payment via smartphone is one of the Fintech solutions in an effective way. Ideals and Innovation are born from difficulties and challenges. In the last few decades, companies in developed countries have invested money in building many factories, and hiring many local people in developing countries mainly to save manufacturing cost. But, I think it is time to change this situation. Developing countries have more merits than just saving cost to developed countries. Innovation is not just only born in developed countries. Reverse innovation is a new trend which innovation born in developing countries is reversely spread over to developed countries. But to make that innovation created and lived well in developing countries, it is needed to have more support not only financial support from both inside and outside of one specific country. I believe developed countries like Japan can effectively support those things, because they have surplus capital gained throughout their development process, and more than that, they can be trusted partners for spreading innovation penetrated in developed countries where users are more ready to pay.
Second, Venture Capital firm - Genesia Ventures I joined also actively supports reverse innovation and open innovation. Genesia Ventures is Japan-based Venture Capital founded in 2016 by Soichi Tajima whose prior career was CEO of CyberAgent Ventures, who has the deep understanding and tremendous experiences in investing and growing startups. Here at Genesia Ventures, we hold the strong mission which is “ We build the platform for the next huge and sustainable industries in Asia”, which means we are not only simply investors just investing money in startups, but also are trusted value-added partners to startups devoting all our resources for their business growth. Genesia Ventures has invested in above 50 startups in Seed and Pre- Series A stages so far, and about 30% of those startups are based in South East Asia (SEA). We strongly support innovative startups that actively are solving problems and bringing people a better life in these SEA countries. Moreover, Genesia Ventures also believes that these innovation born in difficulties from these emerging countries would be helpful to developed countries like Japan as well. Therefore, we are actively devoting for open innovation between Japanese big companies and SEA startups to push further their own limits.
Last but not least, I personally have a strong passion for innovation, startups, creating something from zero and building it to be greater. At Genesia Ventures, my passion is truly fulfilled. I love the atmosphere when entrepreneurs are bustling in and out to our office to pitch and consult about their own startups. And I also love the meaningful discussion time with our investment team members evaluating startups, sharing our perspectives and diving in details on how we can support startup to grow. I love the moment every time I go across to the next co-working office that Genesia Ventures offers to our startup portfolios feeling their passion and their commitment to creating something really cool to change their world. I love the feeling of being the only person staying at the office late night, looking into that next office finding someone is still working that makes me great motivation to even work harder to support them. And I also personally have a strong mission to contribute directly to my home countries- Vietnam through startup- one of the key driving force for economic development. Soon I will come back to Vietnam, officially open a new office to be able to archive my above-mentioned mission.
Like the quote: “When you feel like quitting remember why you started”, these above reasons are very important for me to start and persist with adventure journey as Venture Capitalist at Genesia Ventures (http://en.genesiaventures.com/) . Hope you enjoy this post and understand more about me and Genesia Ventures.
#VentureCapitalist#SEAStartups #JapanStartups#VietnamStartups #OpenInnovation# ReverseInnovation #Genesia Ventures