First half: How to avoid premature death

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"This is the best time to start a business. Give you an investment, let's do a project? " Many investors are lobbying for senior-level jobs at big internet companies. There are even rumors that some organizations have talked to the top executives of internet companies and lobbied for entrepreneurship.

"Hot money, good projects less and too expensive" is a lot of investors on the first half of the investment environment description. The influx of hot money has led to frantic looting of early-stage entrepreneurial ventures by investment agencies. According to NetEase technology statistics, only in the first half of 2014, more than 200 start-up companies to obtain B round and the following financing, much higher than in previous years. The match is that a number of institutions and individual investors began to enter the early investment market, the major Internet companies have set up an investment department, the stock market is also eyeing the early markets. The domestic creation circle a prosperous scene. But in Silicon Valley, US investors have begun to reflect cautiously, calling it "bubblish", meaning it looks like a bubble, but it may not.

But under the hot money, is more the start-up company in the dissolution, the adjustment direction, the substitution and so on. The rationality of investment is immutable. How to avoid the premature death of the venture under the hot money? NetEase technology for the first half of this year's entrepreneurship and investment in the investigation and inventory.

Team: To open a company with acquaintances

Is the team more important or the project more important? 80% of the investors interviewed will say, "Team!". One recent example is the failure of the "Bubble Noodle Bar", three full of ideal 85 after the otaku co-founded the online education platform "bubble Noodle Bar", but before getting a round of investment, because the stock allocation problem, because the team mistrust and fall apart, let people sigh.

and "Chinese partner" Wang said "do not and the best friends to open the company", in the domestic investment circle, investors prefer the general is the original understanding of the entrepreneurial team. Chui, managing director of Deloitte Investment, said to NetEase technology that their favorite team was working together before, preferably in front of the company out of the complete team, or before the students and so on, a better understanding of each other.

In Chui view, the current failure of the most common reason is entrepreneurial team instability, products, markets are good projects, the founder background is also strong, but the founding team of mutual cooperation on the problem. A lot of examples are some founders think of a very good idea, excited, looking for collaborators around, the results of a number of like-minded people, but also excellent. But they actually know each other very short, the contact is not deep. After the implementation of the project, once encountered difficulties began to appear contradictions, the CEO of the ability to deal with contradictions, the appeal is not strong, the team began to split. Many founders later said, "It turns out that he is such a person." "People tend to expose things that deviate from their nature in the face of interest."

So, when the founder of Old classmates, old colleagues, old friends dug together to start a business, what is the second step to do? To ensure the integrity of the team, that is, technology, products, markets are indispensable.

Xu Shiqing, managing director of China-OECD investment, said that for the student team, it is important to find a few people with entrepreneurial experience, because the student team has no experience and often wants to do too much and do everything. For the entrepreneurial team, subtraction is more difficult than addition.

After a good team, the third step, the founder of the timely determination of equity allocation. Xu Shiqing to NetEase technology, entrepreneurial gangs appear the most frequent when it is in the financing, because the issue of equity distribution, and finally huff. Chui said that the general would require the founder of more than 10% of the shares in the form of industrial and commercial registration to avoid future disputes, thereby reducing the team because of the opportunity to create contradictions in the equity issue.

Direction: Standing in the tuyere can be blown up

According to the NetEase Science and technology incomplete statistics, the first half of 2014 science and Technology Circle Part B and the following financing situation, it can be clearly seen that the enterprise services are still the most favored investment institutions, the first half of the open financing cases as high as 37.

And from the beginning of last year's hot internet finance has been widely concerned by investors, the first half of 2014 public Internet financial financing cases as high as 28, after the Enterprise services, which peer-to-peer areas are particularly favored, Everyone lent a round of investment from Zhi-Xin capital of 130 million US dollars, and became the largest financing in the Internet financial field. In the past six months, a number of peer-to-peer companies have been the founder of the phenomenon, but this does not affect the enthusiasm of investors.

Intelligent Hardware field is an Up-and-comer, although the first half of the open investment case is not much, but Jingwei Ventures, Kleiner and other institutions have openly expressed their strong interest in the field of intelligent hardware. Roll Call time CEO Zhang You said, "2013 domestic hardware entrepreneurs are generally copying foreign products, but from 2014 onwards, more and more entrepreneurs began to localize the innovation, the domestic smart hardware market is very potential." ”

Referring to the future more important areas, Jingwei venture partner Wan Haoki said that the future of wearable products, smart home are hot spots, 2014 domestic is expected to have more than 10,000 smart hardware products launched. In the Hardware field, Jingwei more value in hardware, supply chain, manufacturing process team and products; in the field of software, Jingwei is more interested in the software interface, data mining, user Operation team and products. In single and platform, Jingwei is more inclined to platform-type products, the attitude of a single product is very cautious. Wan Haoki also stressed, "wrist watch do not look for me, looking for I will not vote."

Xu Shiqing, however, said that the most valuable investment in his eyes when the vertical field of strong interactive products, and light hardware, heavy service intelligent hardware companies will also have the opportunity, in addition to the medical field and the car in the future of the control screen market will also be promising.

Investor: Besides money, what else can you give?

When the entrepreneur has a good team, has a good product, in fact, from the investment side (Godfather) has been very close-because in your urgent search for The Godfather, Godfather is also in urgent search for you.

NetEase technology sorted out the first half of the 2014 domestic star products B round and the following financing situation, can be seen in the domestic market, the agency is still the main force, but many emerging forces have begun to show their strength, which includes the internet giants and a variety of public-raised platform. Tencent recently publicly stated that it will explore investments in some a-round and previous projects, products and teams.

Before looking for godfather, the entrepreneur must first determine what kind of godfather is more suitable for you. Organizations are more professional, but internet companies in the channel, the flow of additional value. And the public-funded platform with its low threshold, low demand. In this case, some organizations also began to play the value-added card, Chui said, De Xun in the robbery project depends on the speed of decision-making, resources, channels to reflect the value. Xu Shiqing said that because of his many years TMT industry entrepreneurship and operating experience, so better understand products and entrepreneurs, know what entrepreneurs need, can better help entrepreneurs open up the market and find resources to cooperate.

Smart home Manufacturers Broadlink This May just won the Qihoo 360 and Beijing East 10 million U.S. dollars in the B-round financing, Broadlink CEO Liu Zongji to NetEase technology, said last May, just launched the socket, Jingdong and 360 realized what they want to do in the future, and began to contact. Jingdong in the field of 3C is very right, recently also officially launched the Beijing-East + plan, each broadlink out a new product, Jingdong will give them on the home page to recommend. And 360 is in the Family security field to help them. More than 60 vendors of Broadlink's DNA program, half, are recommended by the two.

Where are all the Godfather's active? The platform does not need to elaborate, internet companies and emerging venture capital institutions are often active in the major exhibitions, business salons, media coverage is also a part of their search for the project channel. But for the larger VC speaking, acquaintances are often more secure. The investment manager of a well-known investment organization said to NetEase technology, had once tried to send the business card to the activity, but finally found over more than 100 team not a reliable, but wasted time. So if the entrepreneur wants to gain the favor of a well-known investment organization, the most important thing is to expand the relationship. According to the six-degree network theory, in fact, every entrepreneur from the father's distance is not far, as long as the project is good enough on the line.

At home, too much money is pouring into the early stages of investment, pushing the market into overheating. Entrepreneurial team how to find their own place in the Red Sea, to find their own godfather, investment institutions to more calmly face the market, are to avoid a new bubble burst the necessary factors.