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Interview with Lu Qi: China is a global innovation center is an inevitable trend
With a long-term, innovative and innovative entrepreneurial idea, but because of the lack of start-up capital and business experience, it is impossible to do anything... If a Chinese entrepreneur is facing a similar dilemma, Y Combinator (hereinafter referred to as YC), a well-known American startup acceleration company that entered China this year. Perhaps a new choice. YC, which has many years of successful experience in the United States, officially announced its entry into the Chinese market. Lu Qi, former president and chief operating officer of Baidu Group, was the founder of YC China. This is the first time YC has established a localized branch outside the United States.
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 correct choice of YC. “YC’s core wish is to help early-stage entrepreneurial teams achieve their ability to achieve a leap from 0 to 1 in the early stages of entrepreneurship.” Lu Qi said that based on cutting-edge technologies such as artificial intelligence, there will be many in China in the next 10 to 20 years. Leading the world in technology development, YC hopes to help Chinese entrepreneurs grow faster.
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 total value of its invested startups has now 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.” 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 the selection, they must improve their entrepreneurial projects within three months. The “Road Day” highlights products to 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, including many Chinese entrepreneurs. Lu Qi introduced that the current 2019 YC Winter Entrepreneurship Recruitment Campaign 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 areas of artificial intelligence and globalization, and the complete Chinese localization project is actively preparing for the second half of 2019." Since August 15 this year Since the announcement of joining YC, 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 improve the 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, entrepreneurs are provided with various assistance such as consulting 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 on artificial intelligence Technology is full of expectations, we will promote technological progress, taking into account its impact on society, and let technology bring benefits to the healthy, stable and sustainable development of society.” Lu Qi said that YC China will use part of the investment income. Supporting Chinese public welfare undertakings.
Referring to China's current entrepreneurial environment, Lu Qia took out the "Opinions of the State Council on Promoting the Quality and Innovation of Innovation and Entrepreneurship to Create an Upgraded Version of "Double Creation" Released on September 26, and listed the documents in line with the YC development concept. 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." 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 leading edge in many fields, and YC China hopes to play an active role in this process." Lu Qi said, China The huge amount of data generated by mobile Internet users and the well-established basic industrial system provide China with an advantage in the new round of technological 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. Demand and the understanding of the mobile Internet product experience is very good."
“To build a successful innovation company requires a long process. Good entrepreneurs need patience, confidence and perseverance.” Lu Qi expressed his suggestions and expectations for Chinese entrepreneurs. “Being ambitious and convinced of technological innovation Can bring more contributions and a better life experience to Chinese society." (Source: Xinhuanet)