"Hungry Wolf type" entrepreneur: Entrepreneurial success relies on risk system to support difficult weaning

During a conversation with Dr. Peter Little, dean of the Institute of Life Sciences at the National University of Singapore, he talked about the topic of biotechnology entrepreneurship. I said: "Hong Kong, Singapore Biotechnology Research has done well, but industrialization is not very successful." One reason is that the salaries of scientists are too high, the conditions are too good, leaving high wages to start a business, the risk is too big. ”

Dr Little agrees with me, adding: "Singapore's bio-industry is a model of the electronics industry, supported by the Government, rather than the intrinsic power of entrepreneurs." The government has spent a great deal of time working with world-class pharmaceutical companies to build research and development centers, hoping to nurture talent and leave technology behind to make the industry work. ”

This seems to be similar to the situation in China.

Singapore is also a "planned economy" and the government plans to increase its investment in biotechnology by 20% over the next 5 years. It may be that the government of Singapore has "shifted" to supporting small and medium-sized enterprises by seeing that the results of the previous phase and the cooperation of the major pharmaceutical companies are not satisfactory. Take money from the government can, at the same time need to have the industry supporting investment.

Little said: "Singapore has also established a number of" incubators ", the development of the environment is very good, but the results are not satisfactory, the reason is not to know what entrepreneurs need what entrepreneurs need is not a comfortable entrepreneurial environment, but the inner passion. ”

Singapore, for example, has a "business visa" for foreigners, but when his wife (who is also a bio-industry scientist) tries to apply, he needs to submit a business plan. "An immigrant unit looking at an entrepreneur's business plan?" What can you tell? ”

Affected by Oriental culture, Asian countries in the treatment of biotechnology entrepreneurship are too much emphasis on diplomas, no PhD business without a talk. The government hopes to "irrigate" biotech start-ups with money rewards. In fact, if the government really wants to promote entrepreneurship, the most necessary thing is to let the adventurous "hungry wolf" entrepreneurs get the chance.

"Good capitalism, bad capitalism," said the book, the American entrepreneur Park has several advantages: the establishment of a company easy, two easy to raise funds, three basic social security, four successful entrepreneurs have a high rate of return.

Talk about my personal experience with the basics of entrepreneurship through my own case of entrepreneurship in the United States.

In the United States, four conditions are better, in Singapore, four are also basic, but in China, each one is relatively poor. Because China also has a technology board listing "venture capital exit mechanism", high returns have become possible. Many VCs, private-equity funds and governments at all levels are looking for the right projects and can find some successful companies with their eyes closed. The establishment of the company is not so difficult (in comparison), the basic social guarantee is not bad. The opportunity to start a business is also very good, I have seen many of the first venture failed, another place or the government's guest, but also can be fooled by a lot of government money story.

The improvement of entrepreneurial conditions may not depend entirely on the government, and sometimes the government's work is more and more busy. But in the early days of entrepreneurship, if there is government support, the pressure will be much reduced. However, take government money more, "weaning" is difficult. After all, it is much easier to get government money than it is to make a dollar in the market, as officials are familiar with. But is that still entrepreneurship?

Whether in Singapore or in the United States or China, the entrepreneurial model is actually the same: entrepreneurial success, relying on the enthusiasm of entrepreneurs and the spirit of adventure. Any system that can crush the flames within the entrepreneur's heart, whether it is money or not, is difficult to succeed.