Restarting the Entrepreneurship Wave: BiMBA Organizes the ‘Thousand Investor Summit’
Dec 01-2014
This year, in its capacity as incubator for a new wave of entrepreneurs, the National School of Development BiMBA has launched a series of entrepreneurship events. Beginning with the Shanghai Young Angel Investor Forum in October to today’s ‘Thousand Investor Summit’; from alumni investor and entrepreneur mixer events to the Nobel Museum Curator’s entrepreneur and innovation event, bringing together alumni from across industries and companies including Tencent and Alibaba, BiMBA has become a veritable mecca for entrepreneurs. Now, ‘BiMBAers’ are at the forefront of this age of entrepreneurship.
Below is a summary of the Angel Investor event on the 25th November, 2014:
Xu Xiaoping: Entrepreneurship is a Journey That Begins with Action
Mr. Xu Xiaoping, Honorary Chair of the China Young Angel Investor Association opened by sharing some anecdotes to show that currently in China the atmosphere, concept and movements in entrepreneurship are already firmly entrenched. Mr. Xu believes that this phenomenon is directly linked to China’s policy, social environment and changes in mindsets. However, there was one factor that is closely linked to each of the angel investors at the forum and that was each time they trusted and met with an entrepreneur, they helped to further develop the start-up environment in China, one that can compete on a world stage.
Yang Ning: The Best Time for China’s Young Angel Investors
President of the China Young Angel Investor Association, Mr. Yang Ning said that we are on the cusp of a big wave of start-ups. At the same time, following the support given by the government to create better conditions for entrepreneurs, the overall environment has improved and entrepreneurship and investment will soon enter a golden age. As for where to invest in these times, Mr. Yang said: “You must invest in tomorrow, for example in technology, or even the day after tomorrow, for example in DNA transgenesis.”
Niu Wenwen: Vertical Markets and the Blackhorse Entrepreneur Community
Secretary-General of the China Young Angel Investor Association, Niu Wenwen used analysis of traditional industries’ mobile internet development to show that at the core of the mobile internet era is the relationship with the consumer.
Whilst discussing the definition of a vertical market in mobile technology, Niu Wenwen explained four key areas: the limited number of consumers; subdivision of the industry and sectors; deepening the understanding of products and services for consumers and placing emphasis on operations. Focusing on these four areas is the key to vertical markets. In the era of vertical markets, everybody is a winner.
Huang Yiping: The Chinese Economy’s New Equilibrium
Peking University National School of Development BiMBA Professor, Huang Yiping first explained the era of entrepreneurship’s background from an economic viewpoint. On the required environment for start-ups, Prof. Huang believes that China’s economy which has government involvement has problems in three areas: entry barriers, intellectual property protection and financing channels. Once these three issues have been addressed, China’s startup market will become a ‘golden egg’ for would-be entrepreneurs.
Liu Donghua: Where are the future masters of the Mobile Internet Era?
Founder and Chief Network Architect of Zhisland (a social networking platform) Liu Donghua believes that angel investors all exhibit three types of behavior: a genuine love of helping others succeed; working out disputes prior to discussing ‘success and failure’ and a scientific and logical analysis mindset. What is the hardest thing in the start-up process? Liu Donghua believes that for entrepreneurs the difficulty lies not in one’s own enthusiasm in spreading this feeling to partners and followers.
Xu Mingxing: Working with Angel Investors to Create a new Future
OKcoin (a Bitcoin Exchange) Founder Xu Mingxing shared his own experience of entrepreneurship and angel investment. During his startup phase, Mr. Xu learned from angels that enthusiasm is not enough for a successful start-up – hard skills, resources and a great team are also needed. Moreover, the experience gained from angel investors can make the journey much smoother and help avoid many pitfalls. “I believe that the advancement of angel investment helps develop society as a whole.”
