| Venture Capital is actively engaged in TMT (Telecommunication, Media and Technology) arena thanks to its high potential and the unique business values generated within. In China's 3G Telecom industry, Wireless Valued Added Service (hereinafter referred to as WVAS) sector has been vested with new competitive dynamics through its comprehensive capture among Telecom, Media and Technology (TMT). Dozens of unprecedented opportunities in WVAS sector have bubbled to the surface, facing the forthcoming launching of China 3G: increasing diversification in production/service portfolio, mass customization for end users, further segmentation in market and brand new business models have brought WVAS sector a series of new profit growth engines.Meanwhile, we shall also realize that, from the macro-perspective, WVAS is a highly volatile sector quite sensitive to Political, Economic, Social and Technological updates and evolutions; from the micro-perspective, WVAS could be subcategorized into an array of market segments, the product/service of which are standing in various life cycles, unfolding different value chain dynamics and business models. Venture Capital and Strategic Investors are frequently puzzled by the thrilling changes in WVAS sector and urgently in need of an efficient investment decision model to evaluate the costs and benefits, opportunities, risks and challenges of the prospective investment and sift out the best candidates. This thesis aims to establish the tentative investment decision model.This thesis works through the following research approach and procedures: Firstly, we will analyze the macro investment environment (PEST, including Political, Economic, Social and Technological environment); Secondly, we would evaluate the micro investment environment (including industry dynamics, value chain settings, business models, market segments prospects, etc.); Thirdly, we will try to establish our investment decision and evaluation model based on our previous review of macro and micro investment environment for WVAS sector. Finally, we would analyze a real case through this model and offer recommendations to Venture Capital and Start-ups actively engaged in WVAS arena. |
