Innovation Workshop Hua: Entertainment applications will explode further

Original title: Hua: Deep excavation mobile interconnection investment opportunities in China's mobile interconnection investment, the name of the innovation workshop around. September 4, 2009, kai-Fu Lee left the global vice president of Google, Greater China president, and announced the creation of innovative workshops, to create an angel investment + innovative products and team platform. At the news conference, Lee announced that the main direction of investment in the mobile Internet, including the electricity business, the Internet, as well as cloud computing. 4 years later, innovation workshops have become an important force in the field of mobile Internet. It is the industrial chain investment, the investment of dim sum, Magic Map, pea pod, safety treasure, Pudding Mobile, friends league, such as more than 50 projects. Of these, 24 entered the A-round and 1 entered the B-round. 4 companies have been merged by Baidu, Ali and Sina. Among them, Baidu buys dim sum with more than 30 million dollars, and buys the magic chart wholly. At present, the fund scale of innovation factory is 300 million dollars, mainly invests in the Internet industry, mainly carries on a round investment, B round, C round also has. The single investment amount is millions of yuan to millions of dollars. Behind these successful investments, in addition to Kai-Fu Lee, there is also a soul figure-Innovation workshop founding partner Hua. "The recovery is now recuperating in Taiwan, but many meetings he will attend." "In an interview with this newspaper, Hua said that the day-to-day investment decisions have not been affected by Lee's illness, operations are quite normal." Investment is not a bet. "Now look back, in 2009, we bet on Android. Hua said that when we first got up, the innovation workshop depended on the partner's sense of smell and influence on the future. But in the long run he sees no betting, and needs to find a good corporate structure and find some new breakthroughs. Before joining the innovation Workshop, Hua is responsible for strategic cooperation with China's local internet partners in Google China. In 2006, he joined Google after graduating from the Stanford MBA. On its Sina Weibo, Hua this evaluation of his "love toss, have been to state-owned enterprises, created the industry, sold the company, out of the country, invested." "Looking back on why the product manager from industrial transformation, Hua said that for early investment and entrepreneurship, do investors have a benefit, you can not put eggs in a basket, more than a few projects, so the probability of a greater success. At present, there are 6 investment partners in the innovation workshop, including Kai-Fu Lee and Hua. For each investor has its own niche areas, for example, for entertainment and consumption, for 2B investment, there are corresponding investors. These partners also have a lot of investment managers under their own independent investment of two or three, a lot of investment managers. Partners often operate independently and make decisions on their own. "Those big projects, I'll finally have a look." Hua said the project would not go through if one of the partners objected to the big project. This will hua a little time from the heavy "watch project" activity, and in the middle of this year, Hua went to Silicon Valley to set up a Silicon Valley investment team. "On the one hand, Silicon Valley has many innovative projects that can invest in small projects." On the other hand, Silicon Valley's innovative experience can be used for reference at home. ”Previous Hua "On average 7 a day", busy. Innovation Workshop Every one of the projects that was cast, he was involved. He, who was born in 1978, laughs that his recent changes have been less hair. Product Manager-type investment Hua claims to be a product manager-type Investor. Although the price of investment is not very good, but because the product is very "feeling", early investment is not purely financial perspective, so Hua in the field of early investment. Talking about how to cultivate the internal strength, see the project, Hua admits that there is no shortcut, "The future can make the right judgments, but also 99% perspiration and 1% inspiration." When you've done your homework and added 1% inspiration, you can judge. "The investment in innovation workshops is all about product and user experience, and judging the starting point of investment is good or bad." "There is no say in the product without understanding it." "But Hua also frankly admits that he missed a lot of projects. Early investment, because the price is not talked about may miss some projects, but because the price is too high to miss the possibility of little. Because early investment is not outrageous even if the price is higher. "It is unforgivable to mistake a person in a familiar field, or to have a job that is not done in place." This is a huge mistake. "Most of the misses were missed by a similar project, an unfamiliar field, or a project that didn't meet investment standards. This kind of miss, is not a pity. At ordinary times, Hua likes to tinker with some strange gadgets, and he often subscribes to some new technology products on Kickstarter. Hua, a technology nerd, admits he has a social anxiety disorder. For example, when you do something, text messages, emails come in, "single-threaded processing" He is only one thing. Most of the time, work will make him forget to eat and never remember. He who loves his work will not have "anxiety disorder" in his work. In the Internet industry for several years, Hua also summed up some rules. "Early investment is essentially a change. Hua told reporters that people are very important, but change is also important. Only good people, no change can not be done. The good person adds the change, can accomplish, the change is bigger, the outcome is bigger. "We invest in more Internet startups because the Internet is always the fastest change." And only change has new opportunities. "Since investment is a change, you need to keep looking for change." Sometimes, you anticipate change and look for a company from a change perspective. It is also possible to find a very sensitive person who brings his ideas to investors. "Big changes can change a group of powerful companies, small changes can be one or two." "So the innovation workshop wants to be able to invest in big changes." In addition to predicting the direction of the future, executive power is also important. Because, although there are changes, but the empty window period is not long, others will soon understand. In the short time window, you should make yourself strong enough. "One thing to do, you need to see the direction of investment, but also need to step on the point of time, but also the implementation of the product." "The two are indispensable," Hua said. Future cast what fromStarting in the 2012, investors have turned their sights on the 2B field. On the one hand because the investment in the 2C sector has been hot for two or three years, good projects are not many, and expensive, low cost of investment. On the other hand, because of the Internet in the 2B domain, there are many reliable projects. Hua told reporters that the internet, electronic business, mobility to the sales of enterprises to bring new changes to these enterprises to provide information solutions for enterprises also have a new opportunity. "Android is the cheapest solution ever. "Mobile Information services only need to install an app on these inexpensive hardware terminals, and these companies are saving a lot of costs," says Hua. Enterprise-class applications are best made Plug and play, can be quickly effective, become a profit center. Early investors also like to "follow the bandwagon", where the hottest, investors on where. Mobile internet has been in development for 4 years now. The first stage of investment opportunities is the improvement of operating system and network services, the second stage is leisure and entertainment, the third stage is the investment opportunities of business transactions. Hua that the opportunities for systems and networking are over, and that there are a lot of investment opportunities in the second and third stages. "Not long ago, Huawei and ZTE launched a truly usable Android phone under 1000 yuan." From this point of view, Android smartphone two popularity has only just begun, for many people to infiltrate two times. "There are a lot of opportunities in China where there are obvious geographical differences, user-level differences, and a large demographic dividend." Specifically, he felt a few big opportunities: first, there may be some new applications, such as the early Internet, high-end users will never use 123. As the mobile internet penetrates down, some applications will have some room to adjust. Second, as the mobile phone performance, the user time to deepen the use of entertainment applications will be further burst. "I think the phone is not a tool for fragmentation time, but an alternative product," he said. "Hua believes that the mobile phone will play a role in the PC, users on the phone to see the full film, play games, etc. have become a reality." If the decision is made, the app on the phone needs to be optimized to improve the user experience.