The return of Kai-Fu Lee, with Xiaoping, Cai in the Entrepreneurial 2.0 era

For entrepreneurs, this is the best of times: As long as the project prospects optimistic team, financing is basically not worried, and may even be a number of investment agencies to curry favor with the object, basically do not like more than 10 years ago those entrepreneurs in the elevator to block investors to seek help.

Of course, this is not a good time: in this entrepreneurial tide, change faster, more intense competition, start-up companies in the spell speed, spell ability, spell mode, spell resources, spell the background, the road of capital exhausted forward, and step by step alarming, a little shaking God or decision-making mistakes may lead to loss of the market or even the failure of the project.

Cai, the famous angel investor, defines this as the 2.0 era of entrepreneurial environment in China.

In his view, entrepreneurs in the 2.0 era have had three major changes compared to 1.0:

1, the early entrepreneurs 90% is to make money, in order to survive, and the 2.0-era entrepreneurs because they sell their products or have been from large companies to obtain a good fortune, so now the entrepreneurial more for the ideal, in order to change the environment, change the society and entrepreneurship.

2. Early entrepreneurship is more of an entrepreneur's personal hero era, relying on a person's idea, a person's ideas to achieve a large company. But now it is more difficult, must rely on more people to help, form a good team, will have a higher success rate, create greater value.

3, the early entrepreneurial team is more competition in the industry, relative to the primary, such as Internet companies in the war of words, the mutual abuse on the Internet. And now when the Internet has covered 80% of China's population, become the daily use of tools, Internet entrepreneurship is facing the national competition, which brings higher requirements to the entrepreneurial team.

At the same time, investors in the 2.0 era also took a major three-point change:

1, compared to 1.0 times very few investment institutions, now Angel investment, VC investment too much, investors need to find a good entrepreneur, and good entrepreneurs can be in multiple investors or investment institutions to choose.

2, 1.0 times good entrepreneurial projects may not need too many investment institutions, one or two on the line, and 2.0 era whether angel investment or institutional investment has begun to carry out coordinated combat, together to help a good project to make it more rapid development. Now more successful in some of the Internet projects, the VC may have 7, 8 or 10 home.

3, previously for investors is basically gambling an industry development opportunities, such as the Internet will be successful, as long as the bet on this direction is generally not wrong. And now the demand for investors is higher, not only to see a direction, more investors to the industry has in-depth understanding, to find a good entrepreneur, can be with the entrepreneur has a common good idea, to help entrepreneurs grow faster.

In view of this, the current domestic enterprise education platform, incubators, accelerators and even some startups have started to provide the entrepreneurial team with a variety of forms of resource docking and support, including funding, venues, technology, talent, forensic, lecture training, activities, etc., so that the start-up team can get more help during the difficult start-up period, Thus more rapid and smooth development.

However, when the domestic entrepreneurial projects in full swing, entrepreneurs "Love" at the time, in the field of angel investment, the vast majority of entrepreneurial projects are only one or two investors or institutions to invest, and occupy a higher proportion of equity, with exclusivity, less than a number of angel investors to work together to invest in a project.

Recently, just recovered from the rehabilitation of Kai-Fu Lee on the enthusiasm has contributed to the innovation Workshop and the Xiaoping of the Great Fund and CAI won the investment of the three-party cooperation, jointly launched the Internet Entrepreneurs for the Public Service Entrepreneurship program-"erhu", "Training + investment" model into, Set up the original management experience of innovation workshop and three institutions more than "billion club" founder of Closed-door exchange counseling.

Kai-Fu Lee believes that the current phenomenon of angel investment in Silicon Valley is different from that in China, where many angel investors or many institutions together support an entrepreneur, or an entrepreneur gets a lot of help and investment after first taking YC investment, many people do not require a high share, but really help the entrepreneur. So he wants to bring the atmosphere into the country, combine the best of angels, and help more entrepreneurs selflessly. Therefore, I hope that "erhu" can make a meaningful attempt in this area, and build such an opportunity to lead and influence this field, so that the 2.0 era of entrepreneurship become more open, sharing, so that more entrepreneurs to benefit and succeed.

So it can be foreseen that After the 2.0 era, when entrepreneurship began as an early stage of concerted effort, both entrepreneurs and investors put forward higher challenges and requirements, the combination of power will accelerate the entrepreneurial field of the fittest, and the emergence of more powerful entrepreneurial companies to have the ability to influence and change the world.