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The View | Look East, young entrepreneurs, for your next big idea
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Imagine you are looking for the Next Big Idea to start a company. Where would you look?
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Traditionally, the answer has been the Silicon Valley. While this is still very much true, startup entrepreneurs are turning increasingly to China as a source of inspiration.
For a sign of the future, in addition to saying “Look West, Young Woman/Man,” entrepreneurs are now saying “Look East, Young Woman/Man” too.
The latest example is none other than the dockless bike sharing phenomenon in China. Public bike sharing programmes in the West have existed for decades. Yet, users of these programmes are often constrained by having to pick up and return bikes to a small set of fixed docking locations, limiting the range of true mobility.
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Over the past 3 years, Chinese companies – led by the two unicorns Mobike and Ofo - have reinvented bike sharing.
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