The first surge of drop-out entrepreneurship in the United States VCs optimistic about China's college students

In the so-called TMT (technology, media, telecoms) world, from E-commerce, social media to tablets and smartphones, Chinese technology companies are opening their IPOs (IPO) in full bloom. Its frequency is so overwhelming that it is more so in the distant United States. American investors and the media have used a US-centric approach to classify them, such as China's Renren as the equivalent of American Facebook.

Renren raised 743.4 million dollars through an IPO in the United States May 4. A few days later, the dating site century Jiayuan also listed in the United States, it is called China's eharmony. The fact that the century's good fortune has raised 80 million of billions of dollars in the United States is still enough to spark speculation in the Western media that the so-called "Chinese IPO fatigue" has begun to emerge.

However, this may just be the feeling of American media. From a recent meeting of tech entrepreneurs and VCs in Beijing, the seventh session of the Global High-tech Innovators Summit and the "China Science and Technology Star" Conference, China's entrepreneurial tide is still behind.

The VCs who attended the meeting basically agreed with Donshau, the executive director of Qiming venture. Donshau said that "there was a bit of trepidation about the valuations of Chinese companies, worried that it was a bubble", but that "investors who have stayed longer in China are still investing heavily".

Donshau graduated from Stanford University and has been a VC for years in Silicon Valley. He recently moved to Beijing for a simple reason: "The pace of development is faster here." "There will be 1000 or 2000 companies in China that start doing the same business," he said. "But all the Chinese companies that have reached the IPO level have been able to get their way out of the competitive environment and finally to" build on it.

China's entrepreneurial tide wants to be further, and a fortress has yet to be conquered. Now VCs hope that the students in China's prestigious universities believe: it is a wise choice to start a business on graduation, even in school. But the problem is that the two things Chinese are most obsessed with are making money and receiving the best education, and there is an inherent contradiction between them.

It is no exaggeration to say that China's elite college students start from the beginning, almost every minute of time spent on learning, the purpose is to enter a good university. After graduating from college, most students just want to find a good job and take a decent salary.

At this year's global hi-tech Innovators Summit, Steve Bell, an American venture-capital Trilogy Ventures, became one of the most intriguing figures. Bell spent a lot of time talking to students with good ideas in 5 Chinese universities to encourage them to start a business. The five universities are: Peking University, Tsinghua University, Beijing Aerospace University, Shanghai Jiaotong University and Zhejiang University.

Bell's move comes from PayPal's founder Thiel. Thiel has promised to offer 100,000 of billions of dollars in venture capital to 20 college students with good ideas to support their withdrawal from business. "I don't support the kids dropping out of school, but they're not against the decision," Bell said. "He will take time every month to give lectures to students and tell them that if there are good ideas, the business salon is willing to provide investment." At the end of each speech, 20 or so college students volunteered to present their ideas. Some of the best creative students have received seed money from the entrepreneurship salon. Bell's company offers start-up funds that are typically around 100,000 dollars.

But in China, people think that entrepreneurship is somewhat unreliable. To dispel this social pressure, Bell usually invites a guest in his speech, who can set an example for college students and dispel doubts in their parents ' minds.

As a result, Bell's "Bill Gates, Larry Page, Sergey and Mark Zuckerberg-style ventures" are slowly but steadily being born in China. That is why, after the global summit of High-tech innovators, Bell rushed to the North University campus in a suburban district to speak. There, more than 300 students are waiting to hear his teachings, both engineering and MBA students. China's entrepreneurial craze is far from "fatigue" and everything is just beginning.