On January 14th, the 14th Annual Conference of Entrepreneurs hosted by Entrepreneur &i Dark Horse was held online with the theme of "Based on Specialization and Innovation, Insisting on Heavy Verticality".
This year's Annual Meeting of Entrepreneurs will be broadcast live through WeChat video number, entrepreneurial dark horse DingTalk, Sina Finance, Securities Times, Sina Weibo, Sina News, Daily Economic News, Oriental Wealth and other platforms. The annual meeting was watched online by 1.8152 million people.
At the meeting, Wang Yizhe, managing director of Everbright Holdings, was awarded the "2021 Specialized New Investor".
Wang Yizhe's reason for the award: he is one of the very few managers in China who has managed two hundred billion scale funds and a number of start-up operators of many companies. With more than 15 years of investment and financing and enterprise management and operation experience, he has successfully built a world-class semiconductor and artificial intelligence dollar series fund - Everbright Walden Global Fund, and will launch a new fund in the first quarter of 2022. This year, Indie Core was successfully listed on NASDAQ in the United States through SPAC, ASR Technology was successfully listed on the Science and Technology Innovation Board, and Innovium was acquired by Marvell. He said that the next 10 years will be a golden age for the transformation of hard science and technology and scientific and technological achievements.
Wang Yizhe delivered a keynote speech after winning the award. He said: "Finding the gap in specialized new industries is a necessary process. Start-ups need to look for specific industrial gaps and cutting-edge technology gaps to develop. ”
The following is an excerpt from a speech edited by i Dark Horse:
Everbright Holdings is an overseas sector of Everbright Group and a market-oriented company with equity investment as its main business. Specifically, Everbright Holdings mainly does two businesses, one is equity investment, and the other is industrial incubation and operation.
As industry investors, we generally do not call ourselves industry catchers, but industry companions and nurturers. How do we grow with industries and businesses? Let me cite two specific cases.
First, in the field of new energy vehicles. In terms of vehicles, we have invested heavily in Weilai and Xiaopeng; in automotive electronics, we have invested in Indie, a star company in Silicon Valley in the United States; wireless charging equipment, we have invested in WiTricity; in 4D imaging radar, we have invested in Arbe...
After more than ten years of construction, the enterprises we have invested in have established a huge new energy ecosystem. In the ecosystem, enterprises need a lot of cooperation, need to support each other, jointly in-depth research on the industry, and develop new products.
Therefore, while building an ecosystem, we will cultivate the industry and accompany the industry to grow step by step. We provide enterprises with the support they need in the development process, including cooperative research and development, creation of orders, team members, in-depth industrial cooperation and other dimensions.
Second, the field of semiconductors. Semiconductors are a typical hard technology field, in this field I have invested in a lot of chip design companies, including ASR, Indie; chip manufacturing, invested in zhongchangdian, Changxin storage, Shanghai microelectronics and other core enterprises.
The demand for the industrial chain in the semiconductor field is very close, and there are necessary interconnections in design, manufacturing, equipment and material supply. We have created a complete industrial chain in the field of semiconductors, and provided ecosystem accompaniment and support for enterprises in various links in design, EDA tool software, packaging and testing, etc.
As an investor, I am also part of the industry. On the one hand, I hope to give support to enterprises from the perspective of capital from equity investment and debt investment in the primary market to capital operation in the secondary market. On the other hand, I also hope to help enterprises grow through the ecosystem we have built, and accompany the continuous growth of the industry.
Regarding specialization, there are three problems facing it.
First, the platform of asset-light enterprises. Since 2010, the capital market has taken a strong interest in domestic hard technology companies and has continued to increase investment. Especially in the past four or five years, a large influx of capital has promoted the incubation of hard technology industries, so that enterprises have developed rapidly during this period.
The rapid development of asset-light enterprises is facing the problem of platformization. Many asset-light enterprises have reached the stage of platform-based mergers and acquisitions. At this stage, how should start-ups find their own development space? How not to be acquired by giant companies and lose market position? Finding the "specialized, specialized" industry gap is a necessary process. Start-ups need to look for specific industrial gaps and cutting-edge technology gaps to develop.
Second, the "stuck neck" problem. Compared with light assets, asset-heavy enterprises are constantly booming. Asset-heavy focuses on cultivating soil, while asset-light focuses more on fruit.
In the face of the "card neck" problem, on the one hand, asset-light enterprises should have the ability to develop specialized technologies, introduce more scientists and overseas enterprises, and form unique capabilities in the field of light assets. These require the accumulation of time and the input of resources.
On the other hand, asset-heavy enterprises have played a fairly important role in many fields. In the field of heavy assets, there are enterprise outputs and a large number of enterprises have grown, so the heavy asset field is a very good development opportunity.
Third, the transformation of scientific and technological achievements. In the field of hard technology, China is keeping up with the pace of the world and has very good opportunities. Whether it is the school, the government, social capital, whether it is following the trend or creating the trend, there has been substantial progress in China. In the new list of specialized specialties, the teams of many top universities have grown up, and a large number of social resources, funds, personnel, and policies have poured into the technology industry, which will be a very good trend.
Finally, I hope that more social resources can enter the field of hard science and technology, enter the incubation field of the underlying technology, and cultivate our soil, trunks, and fruits. From the capital level to the industrial level, this is what we should do.
