In 2022, the covid-19 epidemic is still raging all over the world, and the geopolitical uncertainty is increasing day by day. Under the complex macro environment, how to treat the opportunities of China’s innovation industry? In this regard, Kuang Ziping, founding managing partner of Qiming venture capital, believes that China’s innovation and entrepreneurship industry has many challenges and opportunities. In this industry, the core participants are entrepreneurs. As long as entrepreneurship remains, there is hope for China’s innovation industry.
Kuang Ziping made the above statement at the CEO cloud summit of Qiming venture capital recently. He still said that in such a macro environment, we still need to make some careful and rational planning to prepare for the smooth passage of the uncertain and unclear economic cycle in the next year or two.
Founded in 2006, Qiming venture capital has set up offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston and San Francisco Bay area. At present, Qiming venture capital manages 10 US dollar funds and 6 RMB funds, with total raised assets under management of US $6.2 billion. In 2021, Qiming venture capital invested in more than 70 projects, and more than 100 invested enterprises completed a new round of financing. In terms of exit, Qiming venture capital reaped a record number of IPOs, reaching 13.
For the current complex situation, Kuang Ziping said, “I have worked for 20 years and see that the big macro cycle is getting shorter and shorter, so most of the time, we have successfully survived the unfavorable macro factors, and a new big opportunity is coming soon. We should be sober minded and ready, get through the cycle smoothly, and be fully prepared when the next big and new cycle comes.”
For China’s innovation industry, Kuang Ziping shared his four observations:
First, the core participants are entrepreneurs. As long as entrepreneurship remains, there is hope for China’s innovation industry. In recent years, macro environmental factors have brought challenges. What he feels most is that Chinese entrepreneurship is becoming more and more vigorous. On the one hand, many young people think more about their future career planning from the direction of entrepreneurship and innovation. On the other hand, many veterans with industry experience have also joined the entrepreneurial industry. Their entrepreneurial territory, ideals and vision are becoming larger and larger. “I think the development of Chinese entrepreneurs is in the ascendant, and the spirit of entrepreneurs is very strong. This is the most fundamental point that there is hope for China’s entire innovation industry in the next few years. As long as the spirit continues to maintain a strong state, there is hope for China’s innovation industry.”
Second, the key factor of innovation is the development of science and technology. Science and technology is a productive force and an important driving force to promote the development of society. The development of science and technology enables people to continuously launch new products and services. At present, there are great outbreaks of science and technology at different points all over the world. In terms of medical treatment, including the development of new drug R & D technology and the development of information technology, including artificial intelligence, have formed an increasing torrent of science and technology. With the background of scientific and technological development, many entrepreneurs have a better grasp when thinking about entrepreneurship and innovation. “In recent years, we have seen a lot of innovations, including using artificial intelligence to do new drug research and development, improving the interaction between enterprises and users, and improving the pertinence of products, and using the latest scientific and technological means to solve the increasing needs of end users and enterprise users.”
Third, another key factor of innovation is talent. Chinese enterprises have developed vigorously and trained generation after generation of excellent talents. Technical talents, marketing talents and management talents are becoming more and more abundant, which greatly promotes the innovation industry.
Fourth, innovation should also consider the overall environment. First, the society’s tolerance of entrepreneurship and its understanding of entrepreneurs; Second, the geopolitical environment, whether there is a relaxed environment that allows innovation and mistakes. This environment also involves the economic environment. Whether enterprises feel that the future is promising, are very willing to invest in new technologies to build new IT platforms, and whether hospitals are willing to try some new treatment methods. As for individuals, whether they think tomorrow will be better affects their willingness to consume.
“In terms of the overall environment, if the signal is not particularly clear, enterprises will face many challenges. In this case, with entrepreneurship, it is very important to be down-to-earth and how to plan for the future in the ever-changing macro environment.” Kuang Ziping said.
“I am optimistic and optimistic about China’s future innovation market.” Kuang Ziping said, “After all, China has a huge local market, and Chinese entrepreneurs and products are becoming more and more internationally competitive. For example, we are glad to see that Xiaomi has become the mobile phone brand with the highest shipment in Europe in the second quarter of 2021, surpassing Samsung and apple. As the first brand in Europe, it is very valuable and has a good demonstration role. More and more Chinese consumers All enterprises have the potential to go global. Therefore, when starting an enterprise and designing products, entrepreneurs can look at the company from a more international perspective, describe products and advantages in a more international language, and better talk to the world. ”
(surging News)
