Qiming Venture Capital Kwong Ziping: As long as the entrepreneur's "spirit" is still there, there is hope for the innovation industry

People's Daily health client Gao Xiaocheng

"Under the constant challenges brought about by the macro environment in recent years, China's entrepreneurial spirit has become more and more exuberant, and as long as the 'spirit' continues to maintain a strong state, China's innovation industry has hope." On December 30-31, at the Cloud Summit of CEO of Qiming Venture Capital, Kwong Ziping, founding managing partner of Qiming Venture Capital, said that at present, the core participants in China's innovation and entrepreneurship industry are entrepreneurs, and as long as the entrepreneurial spirit is still there, China's innovation industry has hope.

Kwong Ziping, founding managing partner of Qiming Venture Capital, delivered a speech

Looking back on the past year, Kwong believes that it is challenging and rewarding. He introduced that in 2021, Qiming Venture Capital continued to focus on the three major areas of medical health, technology, Internet and consumption, invested in more than 70 projects, and more than 100 invested companies completed a new round of financing. In terms of exits, Qiming Venture Capital has achieved a new high in the number of IPOs this year, reaching 13.

"I have been in the industry for 20 years, and I have seen that the big macro cycle is getting shorter and shorter, so many times it is smooth to survive the current unfavorable macro factors, and new big opportunities are coming soon." We need to be prepared with a clear head, to get through the cycle smoothly, and to be fully prepared when the next big, new cycle comes. This also involves funds, and in general, the funds on the market are still relatively abundant. However, because the macro situation is not clear, the trend of capital hedging is indeed relatively obvious, so it is not that enterprises will certainly be able to raise enough funds when they develop in the early stage. In such a macro environment, it is still necessary to make some careful and rational planning to prepare for the smooth passage of the uncertain and unclear economic cycle in the next one or two years. Kwong said.

Regarding the current development status of China's innovation industry, Kwong Ziping summarized four elements:

First, as long as the entrepreneurial spirit remains, there is hope for China's innovation industry. On the one hand, many young people's future career planning is more from the direction of entrepreneurship and innovation. On the other hand, many veterans who have already had great experience in the industry have also joined the entrepreneurial industry. The development of the group of Chinese entrepreneurs is in the ascendant, and the spirit of entrepreneurs is very strong.

Second, the key factor in innovation is the development of science and technology. Science and technology is a productive force and an important driving force for the development of society. At present, there are great outbreaks of science and technology at different points around the world, including the development of new drug research and development, the development of artificial intelligence technology, which has formed a larger and larger torrent of science and technology, with the background of scientific and technological development, but also let many entrepreneurs think about entrepreneurship and innovation, have a better grip.

Third, another key factor in innovation is talent. Chinese enterprises have flourished, cultivating generations of very good talents, technical talents, marketing talents, management talents are becoming more and more abundant, which has greatly promoted the innovation industry.

Fourth, innovation should also take into account the overall environment. One is to consider society's fault tolerance for entrepreneurship and its understanding of entrepreneurs; the other is to consider the geopolitical environment, whether there is a relaxed environment that allows innovation and mistakes. If the signal is not particularly clear, companies will face many challenges. In such a situation, after having an entrepreneurial spirit, it is very important to be down-to-earth and be able to plan future events well in the ever-changing macro environment.

Kwong is optimistic about China's future innovation market. In his view, China has a huge local market, and China's entrepreneurs and products are becoming more and more internationally competitive. Therefore, when starting a business, when designing products, entrepreneurs can look at the company with a more international perspective, use more international language to describe products and advantages, and better dialogue with the world.