Shong: Investors give different support to entrepreneurs in different time periods

News and Information March 20, 21st, by the "Entrepreneurial State" magazine hosted the eighth annual "Innovation China 2013" Spring Finals held in Shanghai today, this contest invited the founder of the Xiaoping, IDG Capital Founding partner Shong and other industry investors as judges, and has from Guangzhou , Chengdu, Wuhan and other land of more than 40 entrepreneurs and entrepreneurial projects to compete for the final award. News and science and technology will live the entire conference.

Shong, founding partner of IDG Capital

IDG Capital Founding partner Shong said in the General Assembly: "In the platform of innovation in China, whether you brought the project or just as an audience, I think everyone here to have a dream of their own, to achieve a dream of their own, and then to share with you here."

Shong also believes that demo is a real combat place, each player has 6 minutes to show your dream your talent, you can get the approval of VCs, and then give you some advice, but also the most important point, get their support.

In addition, for investors to provide value to entrepreneurs, Shong said, investors in different time to the entrepreneur different support. Early can provide more market judgments, product judgments and the composition of the team, and more investors to your advice, advice to help you grow. Only step by step, so that you can actually make a real thing.

The following is the founding partner of IDG Capital Shong speech record:

Shong: Governor Ma, and all of you entrepreneurs, good morning, very happy to attend this meeting. Thank you very much for inviting us here. The entrepreneurial state of this activity has been the eighth session, the most important point I saw more entrepreneurs, here get the money to invest to achieve a dream of their own. Because now all Chinese people are talking about the dream, the Chinese dream, we want to revive our China, this is the biggest Chinese dream. I think all the contestants who came to this competition whether you brought the project or just as an audience, I think everyone here have a dream of their own, to achieve a dream of their own, I think, to share with you, as our organizer, IDG company How to view the meeting.

You may know that some time ago someone said how old don't see you on TV, why 06 to 08 years, I, and Ma Yun participated in a program called Challenge China, many people also talked about, the day before yesterday I went to Dubai to visit the mosque, see me after talking to me they work in Dubai, see win in China's show, I am very grateful, for so many years people also talk about this matter. Winning in China is a show, but it spreads an idea of innovation and the basics of entrepreneurship. But to really build a company into a listed company, a big company has a lot to do. So I keep winning in China as a popular version of the idea of entrepreneurship. Demo is a real combat place, each player has 6 minutes to show your dream your talent, you can get the approval of VCs, and then give you some advice, but also the most important point, get their support. Before we come here, I want to talk about the value of our investment.

What do you need to be a startup, so that we can give it to you, and I think that every time there is a different phase there will be different support you need. If you were in the early days, you might be able to tell us more about market judgments, product judgments, and how the team makes up, including your rapid growth. At a certain stage, and there is a change in the technology is also different. Each stage is different. As a VC company, it may be based on each of the different characteristics of the VC, can give you each project to provide some of you may not be from other places to get some advice. Because of the interesting point in the world, MA Chang talked about schools and so on, you know, the most cattle to school is to get a doctorate, but perhaps we do not know whether it has been noted that the United States education developed, but there are many different degrees, but the world does not have a PhD in investment. Why, because there are so many things in this industry, of course, you invest in some of the law, about the economy can have a doctorate, but how to do a wrong thing, vote which company to vote what does not have a doctorate. This shows what, more is the actual combat experience, more is a lot of constant factors to bring you a correct piece.

Back to my point, in the process of doing this business, I found a very important point, you want to be a successful entrepreneur, in fact, your investment is a process of life. You really want to do a company to do a certain size requires a certain amount of time, in the course of life you do this is a process, in the process you need to constantly have some foreign, important is your investors to give you advice, advice to help you grow. It's important, I think, whatever you do, heart always have a good dream, this dream more specific, we say, China's revival is a great Chinese dream, but for you personally, you this dream more specific better, in a period of time to achieve a thing, step by step, This allows you to actually do one thing more effectively. I think that in the present, because this is our IDG to China began to invest in the 20th year, very coincidentally also started in Shanghai, is 93 years June we set up the first fund, I was the general manager, only 20 employees 2000 yuan, Now we managed 4 billion of dollars plus 20 million yuan, which did a lot of companies, but also failed a lot of companies, we also learned a lot of experience and lessons. As an investor, it is important to share the lessons of our failures with others so that you can make fewer mistakes. This is also a very important goal of demo.

Today, our Internet technology, especially mobile internet technology, has provided us with very, very convenient conditions, so that we do the market or find a partner or bring a lot of convenience. So I think we seize this opportunity, especially in China, the mobile internet era is an important entrepreneurial market, no matter what market you do, even if it is very traditional, we must put the application of technology as an important consideration.

Compared with 20 years ago, there is an important point, before we want to produce a product sold out. At that time the total electronics industry was only 10 billion, and now a business is so much capital. At that time more than just domestic sales, so we bring a lot of entrepreneurial opportunities. Mr Ma has talked a lot about cultural things, and I think we need to pay attention to the cultural industry. Before we talked about the internet, more talk is a platform, we profit mainly by advertising, the future we are more rely on internal policy. We have noticed that we have seen a report the day before yesterday, a report that the potatoes to set up a company to do the factory, just Mau Wei their side at the beginning is also our vote, now to start a second time. I also talked to him once, he is to do content, the former potatoes just do the platform. Therefore later content becomes an important source. IDG the year before we invested in a company, in Silicon Valley, is dedicated to do online mobile games content, 7 months sold to a Japanese company, brought us several times more than the return, but also the fastest. So I think, like this is a very important thing, do content while not necessarily listed.

In the past, we have a dream, the most important thing is to go public, of course, the listing is a very good thing, not only for your company's development has brought great development of funds, at the same time for us VCs is also a good thing, can have a very high price of the stock can exit. Not really, actually. Now there has been a great change, you know, the United States and foreign stock market is not good, our Chinese stock market is also more than 800 companies in line, I think we are investing in the time, I have been looking at, the investment and entrepreneurial people do not stare at the stock market, Because staring at the stock market is likely to be before the IPO, there is the job of private equity. As VCs, especially entrepreneurs, don't stare at the stock market, more importantly, you must ask yourself what I can bring to the market, my product is not able to hold a foothold in the market, as long as you feel not for investors to do, not to make money to do, but to stare at your market stare at your customers to do , whether you are not listed, your business will be successful, will be big. This is what I want to share with you.

Finally, I feel that China is indeed an entrepreneur's paradise. I said just now that I did not think 20 years ago that we would be able to invest in the first fund in Shanghai. I wrote an article and thought it was my dream, and now my Chinese dream has come true. The following dream of how to achieve in China, but also I just said, I also share with you also a Chinese dream behind me, several aspects to do this thing with you. It is true that China's domestic market, especially in our domestic market compared to the mobile Internet as mentioned in the content system, there may be a huge source, a potential for development, can help everyone realize their dreams.

At the end of the story, I would also like to mention a moment ago with the governor, Ma said that I am not familiar with here. Hanting said to find his office, I asked him why he was looking for hanting, hanting is now trying to make his Hua live as the world's third largest hotel management company. Hanting Entrepreneurship of the three companies we are his investors, like Ctrip, such as home to the Han court to the present Chinese live. is not an entrepreneur in 10 years as a founder CEO, each company more than 1 billion, so I think Hanting can declare Guinness records, also in Shanghai do. So for example, China is a haven for entrepreneurship, and Shanghai is a paradise for entrepreneurs. Especially in the spring, a sowing season, I hope that all the contestants and want to start their own competitors, to Jiading, to our demo China, can sow the seeds of your dreams in spring, I hope you succeed, thank you.