For the 4th year in a row Dragons’ Chamber, the pitch event specifically for foreign entrepreneurs in Taiwan, took place on November 16. MUSA Trademark has been a sponsor for a few years but this year we were also a co-organizer. We are elated to be involved with such a great event and all the people that makes it come alive.
Having the five teams present on stage during Meet Taipei in November is the culmination of a process that starts in the beginning of the summer when we start advertising for companies to send in their applications. Most of the companies that apply are then called to an audition where they get to present their company in front of a panel of experienced entrepreneurs. The entrepreneurs ask tough questions and give some feedback. The five teams that make the initial cut are invited back for a longer consulting session where they are expected to have taken the previous feedback to heart. Closer to the event they are invited back once again for even more feedback on their business models and presentation. It is not uncommon for a team’s presentation to change significantly from the first audition to their minutes on the big stage.
When asked, most of the teams say that the most important take-away from the Dragons’ Chamber process is the pointed feedback.Being an entrepreneur is hard. Creating a business model that will sustainably allow a company to grow is really hard. This business model will need to be tweaked many times and it makes sense to get as much honest, pointed feedback as possible. To get this, a team needs to seek it out. Friends and family is often too kind or too unproductive in their feedback.
If there is one thing we hope to see more of in coming years it is more investors coming out to see our pitches and consider making investments. Dragons’ Chamber do not only offer a stage to tech or apps or AI. We believe that value can be created from a smaller base where unicorn-status is not even in the ambition. This year’s winner is Monster Frozen Pizza which today sell about 5000 delicious pizzas to about 100 cafe’s, restaurants and bars who turn these pizzas into additional revenues. They are now building a fully licensed factory that will be able to make tens of thousands of pizzas and employ a large number of people. This is value. Yet, they are only asking for an investment of NTD 2.5 Million to help develop their marketing and sales operations.
Dragons’ Chamber 2019 Winners
- First prize: Monster Frozen Pizza
- Second Prize: Origin Yoga & Wellness
- Third Prize: Tuteemi
The event could not happen without the cooperation of all co-organizers, sponsors and supporters.
MUSA is proud to work with the Canadian Chamber of Commerce, Taiwan Small Business Network, Enspyre and Reach to Teach to produce Dragons’ Chamber.
Among all of our fantastic sponsors we have to first mention the fantastic hard-working people at Business Next who organize the Meet Taipei startup festival. Every year it is getting bigger and better and we are SO grateful that they give us the time on stage.
And then in no particular order, big thanks to The Executive Centre, Grant Thornton, Geber, Anemone Ventures, FutureWard, and International Community Radio Taipei. Please visit the Dragons’ Chamber website to read more about these great companies and organizations: https://dragonschambertaiwan.com/
If you are a startup or you are nurturing an idea we hope to see your application next year!