Xinhua News Agency Liu Yang
With a lofty, innovative and innovative entrepreneurial idea, but because of the lack of start-up capital and business experience, it is no match. …… If a Chinese entrepreneur is facing a similar dilemma, Y Combinator, a well-known American startup startup company that entered China this year (hereinafter referred to as YC) may be a new choice.
YC, which has many years of successful experience in the United States, has officially announced its entry into the Chinese market. Lu Qi, former president and chief operating officer of Baidu Group, is the founder of YC China. This is also the first time YC has established a localized branch outside the US.
In an exclusive interview with reporters, Lu Qi said that China's becoming a global innovation center is an inevitable trend in the future. YC has always been striving to promote and realize technological innovation. Entering China's development is the urgent need and the right choice for YC.
“The core aspiration of YC is to help early-stage entrepreneurial teams achieve their ability to achieve a leap from 0 to 1 early in the venture. “Based on cutting-edge technologies such as artificial intelligence, there will be many companies in China that will lead the world in technology development in the next 10 to 20 years. YC hopes to help Chinese entrepreneurs grow faster.
YC China founder Lu Qi is interviewed
Founded in 2005 in Silicon Valley, YC is committed to providing start-ups with a full range of entrepreneurial solutions that drive technology-driven innovation. To date, YC has accelerated for more than 1,900 startups. According to YC data, the initial value of its invested startups has exceeded $65 billion.
“I have previously held management positions at both Microsoft and Baidu. Due to my age, I hope that my next job will allow me to contribute for a longer period of time and use my experience to help young people better realize their entrepreneurial ideas. & rdquo; Lu Qi, 58 years old, explains the new career choices.
In order to select entrepreneurial projects with promising prospects, YC organizes winter and summer entrepreneurship training camps every year. Entrepreneurs who apply for participation need to be selected through layers. After enrollment, they must improve their entrepreneurial projects within three months. The “Road Day” is a showcase of products from YC alumni and investors.
In the just-concluded 2018 YC Summer Training Camp, 152 short-listed start-up projects were selected from 6,000 applications, many of which were Chinese entrepreneurs. Lu Qi introduced that the current 2019 YC Winter Venture Camp recruitment activity is the first official enrollment since the establishment of YC China. The interviews with applicants will be arranged directly in China.
The application for registration of the YC Winter Training Camp in 2019 will continue until late October, and the primaries for registered startups have begun. Lu Qi said: “For projects from China, we will focus on the two major areas of artificial intelligence and globalization. The complete localization project in China is actively preparing for the second half of 2019. ”
YC held a press conference on August 15th, announcing Lu Qi as the founder of YC China
Since the announcement of joining YC on August 15 this year, Lu Qi has not only directly participated in the summer entrepreneurship training camp, but also traveled to and from China and the United States to communicate with young entrepreneurs and deepen their understanding of the “YC model”. “YC provides entrepreneurs with help through early investment, training camps, roadshow days, alumni resources, and expert support to fundamentally enhance entrepreneurial capabilities. ”
Lu Qi compares YC to an entrepreneurial university. Its alumni resources are spread all over the world. Through YC's internal liaison platform, it provides entrepreneurs with advice and financing to form a scale effect in the field of entrepreneurship.
Lu Qi said frankly that YC China's important goal is to “ground gas”: “YC China will definitely build a team of Chinese people, speak Chinese, understand Chinese culture, and truly serve China's economic and social development. ”
“Everyone is full of anticipation of artificial intelligence technology. We will promote the progress of technology, taking into account its impact on society, and let technology bring benefits to the healthy, stable and sustainable development of society. & rdquo; Lu Qi said that YC China will use part of its investment income to support China's public welfare undertakings.
YC held the “Entrepreneur School” at Tsinghua University on May 19th.
Referring to China's current entrepreneurial environment, Lu Qia took out the “Opinions of the State Council on Promoting the High-quality Development of Innovation and Entrepreneurship” on September 26th to create a “double-creative” policy, which listed the document and the YC development concept. Matching content.
“In the United States, innovation and entrepreneurship are basically self-issued by the private sector, but the Chinese government can directly support encouraging entrepreneurship, which is very forward-looking. & rdquo; Lu Qi said.
Lu Qi believes that over the past 40 years of reform and opening up, China's economy has grown by leaps and bounds, gathering the core elements of technological innovation such as talent, technology, capital, and market. At the same time, China's positive attitude of attracting foreign investment will also help optimize the science and technology environment.
“The development of artificial intelligence technology is a good opportunity for China. China's technology products will reach the world's cutting edge in many fields, and YC China hopes to play an active role in this process. “Lu Qi said that the huge amount of data generated by China Mobile Internet users and the perfect basic industrial system provide China with an advantage in the new round of technology competition.
Since taking office in Baidu Group in January 2017, Lu Qi has had the opportunity to contact many Chinese entrepreneurs. Their entrepreneurial enthusiasm and hard work attitude have made Lu Qi impressed: “Chinese entrepreneurs work harder, they are users. The demand and the grasp of the mobile Internet product experience is very good. ”
“To build a successful and innovative company requires a long process. Good entrepreneurs need patience, confidence and perseverance. & rdquo; Lu Qi expressed his advice and expectations for Chinese entrepreneurs, “have to have great ambitions and firmly believe that technological innovation can bring more contributions and a better life experience to Chinese society. ”