Australian entrepreneur Nick Jenkins is interviewed by experienced venture partner Terry Hilsberg about his lessons learned whilst scaling his start-up in China. Nick’s start-up Language Confidence automates tutoring and spoken assessment with artificial intelligence driven technology. In this clip Nick talks about his background, and why he dropped out of university to pursue his entrepreneurial dreams. He goes on to talk about the nascent stages of his start-up, experiences with the muru-D accelerator program and reasoning behind location choice. Nick also explains the scope of the education market in China, his move from a B2C to B2B model, networking strategies in Chinese business culture, deals currently in negotiation, and developing a competitive differentiation. Some questions answered include: Why did you move to China rather than stay in the Sydney (Muru-D) accelerator? Is there a competitive tension in the Chinese business partnerships (comprising of mainly 5-6 major players)? How do you negotiate a fair deal in China? What personal challenges did you face in China? What advice would you give for entrepreneurs who don’t speak Chinese and want to enter the Chinese market?
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