Beijing, April 25
On April 23, the 2021 annual exchange meeting of Beijing venture capital association was held at Boya International Hotel, Peking University. This activity is sponsored by Beijing Venture Capital Association, organized by liyun.com, and co organized by Beijing University Science and Technology Park, Beijing Changfa, Beijing Daxing investment group, Beijing sanjuyangguang intellectual property, Shanghai Haiji Pucheng assets, and fanrui information consulting.
Liu Kefeng, President of Beijing Venture Capital Association and chairman of Beijing Science and innovation fund; Zhu Jianhong, member of the Party group and deputy director of Municipal Science and Technology Commission and Zhongguancun Management Committee; he Jianwu, director of the second industrial promotion division of Zhongguancun Science City Management Committee; Shen Zhiqun, vice president of China Investment Association and chairman of Venture Capital Commission; Zhao Gang, researcher of China Academy of science and technology development strategy, Ministry of science and technology Chen Datong, chairman of Puhua Capital Investment Committee and other leaders and guests attended the forum. The forum was hosted by Yang LinSong, Secretary General of Beijing Venture Capital Association. With the theme of “new opportunities for venture capital in the era of scientific innovation”, the Forum gathered hundreds of industry elites to exchange views on such hot issues as venture capital fund promoting the supply of scientific and technological innovation, core technology breakthrough, and transformation of scientific and technological achievements. Beijing is the highland and fertile land of scientific and technological innovation
In recent years, technological innovation has been raised to an unprecedented new height, and venture capital industry is facing great opportunities. The Fifth Plenary Session of the 19th Central Committee of the Communist Party of China proposed that “we should adhere to the core position of innovation in the overall situation of China’s modernization construction, and take self-reliance and self-improvement in science and technology as the strategic support for national development.”.
At the beginning of the year, the central economic work conference stressed: “strengthen the national strategic scientific and technological strength. It is necessary to give full play to the role of the state as the organizer of major scientific and technological innovation, adhere to the strategic demand orientation, determine the direction and focus of scientific and technological innovation, and strive to solve the major problems restricting national development and security. “
In the past two decades, China’s venture capital industry has been booming. As the first venture capital industry association in China, Beijing Venture Capital Association always takes on the social responsibility and mission of serving technological innovation and leading venture capital.
Liu Kefeng, President of Beijing Venture Capital Association and chairman of Beijing Science and technology innovation fund, said in his speech that Beijing is a highland and fertile land for scientific and technological innovation, providing advantageous resources for the development of venture capital industry. As Beijing speeds up the construction of an international science and technology innovation center, various high-end science and technology innovation elements continue to gather, and the ecological environment for innovation and entrepreneurship continues to optimize.
Data show that in 2020, Beijing will have 29000 national high-tech enterprises and 93 Unicorn enterprises, ranking first in the world. The “two zone construction” of Beijing national service industry comprehensive demonstration zone and free trade pilot zone, and Zhongguancun pilot zone bring new policy dividends for the development of venture capital industry.
2021 is an important historical node for China to enter a new stage of development. Liu Kefeng put forward three views on the future development of venture capital industry: first, venture capital institutions should be good at grasping the policy dividend; second, venture capital institutions should be good at grasping the policy dividend; Second, continue to build the hard power of venture capital institutions; Third, actively practice the ESG investment concept and expand the multi-dimensional value system.
Zhu Jianhong, member of the Party group and deputy director of Beijing Municipal Commission of science and technology and Zhongguancun Management Committee, said in his speech that after the joint office of Beijing Municipal Commission of science and technology and Zhongguancun Science and Technology Park Management Committee, Beijing Municipal Commission of science and technology will play its role in promoting the construction of Beijing International Science and technology innovation center.
So far, with the support of the three dimensions of technology, talent and capital, there are 280000 high-tech enterprises in Zhongguancun demonstration zone, with a total income of 7.2 trillion yuan, an increase of 9% year on year, and a contribution rate of nearly 40% to the city’s economic growth.
Zhu Jianhong believes that technology and venture capital are inseparable, and venture capital has the characteristics of high efficiency, high risk and high return. Science and technology enterprises have the characteristics of light assets, heavy technology and high growth. With the blessing of venture capital, science and technology innovation enterprises can grow rapidly.
Zhu Jianhong said that in the future, Zhongguancun will continue to create a good policy environment, better enable the development of scientific and technological innovation enterprises, and make due contributions to Beijing’s building into a globally influential venture capital center.
In his speech, he Jianwu, director of the second industrial promotion division of the Management Committee of Zhongguancun Science City, said that in the future, Haidian District will focus on the construction of innovation ecosystem, expand production services, industrial services and scientific and technological innovation services, deeply excavate projects, orderly promote the development of industrial investment projects, and strengthen the coordination and linkage of the urban area according to the key industrial development direction of Haidian District, Attract more high-quality enterprises and realize the deep integration of capital and industry.
Shen Zhiqun, vice president of China Investment Association and chairman of the Venture Capital Commission, believes that the venture capital industry should shoulder the historical responsibility of promoting scientific and technological innovation, helping science and technology take off and realizing a powerful country in science and technology. Venture capitalists should strive to be trendsetters in the new era, comply with the needs of high-quality development of science and technology, and vigorously improve the quality of venture capital. Science and technology innovation era, grasp new opportunities
Chen Datong, chairman of Puhua capital investment committee, delivered a speech with the theme of “welcome the golden age of investment in semiconductor industry”. He said that with the coming of bat era of semiconductor, it can be predicted that after 5-10 years, the semiconductor industry will enter a mature period of development.
Specifically, dozens of leading enterprises are surrounded by hundreds and thousands of start-ups. Start ups focus on the innovation of new technology and new functions. Once the technology products are mature, large companies will buy them at a high price, and use their own market channels, supply chain, quality assurance and brand advantages to quickly open the market and form a virtuous circle of the industry. In the future, the main exit channel of start-ups will be mergers and acquisitions (expected to be more than 80%), rather than independent IPO, which is the law of industrial development proved by history.
Chen Datong said that although the semiconductor industry has become an investment industry of wanghong, it is an industry that has been sharpened for ten years. We can’t see the semiconductor industry from the perspective of speculative psychology. We need to step down to do every step well.
At the forum, Zhao Gang, researcher of China Academy of science and technology development strategy, Ministry of science and technology, delivered a speech with the theme of “science and technology self reliance and future science and technology strategy”.
He said that strategic science and technology forces are the backbone of the national science and technology innovation system, and national competition is the competition of science and technology innovation capability system. He proposed three measures for the construction of strategic scientific and technological talent team: attracting and retaining talents by using cutting-edge and high-end projects, encouraging talents by using excellent policies, and achieving talents by using large platforms.
In 2021, Beijing Venture Capital Association set up three special committees of enterprise venture capital (CVC), commercial aerospace, medicine and health, and determined that the chairman units of the special committee are Lenovo venture capital group, Yuanhang capital and Hetang venture capital. At the meeting, President Liu Kefeng presented medals to he Zhiqiang, President of Lenovo venture capital group, partner of Yuanhang capital, and Yang Hongru, chairman of Hetang venture capital.
Liu Kefeng said that the three professional committees established not only strengthen the professional attributes of venture capital institutions and promote the differentiated development of venture capital, but also gather different characteristic venture capital institutions in the same field to form joint forces and collaborative development.
Then, the fifth leading members of Beijing Venture Capital Association made a collective appearance, including Vice Presidents Qu Jinglu, Lu Xiaobing, Chen Wei, Yin Jie, etc. New trend of science and technology innovation investment
Subsequently, the forum held three round table forums around the frontier topics of venture capital industry《 Chen Wei, general manager of China Dixin fund, was the host of the round table forum. He Zhiqiang, President of Lenovo venture capital group, said that Lenovo venture capital mainly invests in five key technologies: Internet of things technology, edge computing technology, cloud computing technology, big data technology and artificial intelligence technology; Yang Hongru, chairman of Hetang venture capital, said that how to master risk control is always a topic faced by investment institutions. First, to disperse projects, that is, to manage risks by configuration; Second, carry out long-term risk control according to the commitment given to LP in advance; Wang Xinhe, partner of Yuanhang capital, said that when investing in hard technology, projects will be determined according to national industrial policies and guidelines, industrial chain, original technological innovation and other factors; Long xiaoteng, managing partner of venture capital fund of Zhongguancun Life Science Park, said that in terms of investment strategy, we should pursue original innovation, embrace integrated innovation and try not to compete and imitate innovation; Jiang Chun, managing partner of Puhua capital, said that the first thing is to explore new growth projects in the context of big changes. The second is to cut in with the best cost performance; Yang Guang, founder partner of Yao capital, said that it now focuses on consumer electronics, autopilot and big data.
In the “2021 master fund investment strategy” round table forum, the round table host is Liu Dan, partner of Tianyi capital. Yin Xiusheng, chief investment officer of China Post Life Insurance Co., Ltd., said that China post insurance’s investment strategy in the master fund is to serve the national strategy first, followed by insurance capital, which accounts for no more than 20% of the master fund’s investment; Yang Zhong, deputy general manager of Beijing Daxing Investment Group Co., Ltd., said that he paid more attention to the selection of teams from the industry, as well as the stability and performance of the teams; Wei FanJie, executive general manager of Beijing Science and technology innovation fund, said that the biggest feature of Beijing Science and technology innovation fund is its science and technology attribute, which promotes the transformation of achievements of Beijing universities, science and technology entrepreneurship, and the formation of some high-end industries that have great influence on Beijing; Xie Sijin, managing director of Beijing changkejin, said that the most obvious advantage of Changping District is biomedicine. In the future, Changping District will play its due role in the original innovation of biomedicine. Qian Jin, managing director of Bauhinia capital, said that as a market-oriented science and technology innovation master fund, the investment strategy is three words: early, specialized and small. The so-called “early” refers to the main investment in early and medium-term VC funds; The so-called “specialty” refers to a certain industry attribute, and the track is relatively focused; The so-called “small” means that it can well control its own scale and has stable and considerable excess returns.
At the round table forum on “hard core” intellectual property and new ecology of venture capital “, the host of the round table was Wang Lei, a researcher at the intelligent technology law research center of Beijing Institute of technology. Guokejia and its executive partner Chen Hongwu said that for any start-up enterprise, how to build a moat through professional knowledge system to ensure that the enterprise will not be hurt is very critical; Zhu Yuantao, chairman of Beijing zhongxingtong investment group, said that when we look at intellectual property rights, we look more at the upstream and downstream of an enterprise. In the final analysis, we are talking about the value of an enterprise, and the enterprise value is formed in the subdivided industrial ecology; Zhang Jie, chairman of Beijing Sanju sunshine intellectual property agency, said that it is very important for enterprises to do due diligence on intellectual property first, which is called “patent early warning analysis” abroad; Zhang Lijuan, director of the Board Office of Beijing Tianyi Shangjia high tech materials Co., Ltd., said that every link involved in the enterprise’s R & D process should be protected with all-round intellectual property rights to achieve sustainable development; Xia Ji, senior partner of Haiji Pucheng assets and arbitrator of Shanghai Arbitration Commission, said that he mainly focused on three aspects: first, whether there are defects in intellectual property rights; Secondly, whether there is intellectual property infringement in the core products of the enterprise; Finally, whether the intellectual property itself will bring technology monopoly to the enterprises to be invested.
The wonderful speeches made by the guests brought the forum to a successful end. Beijing Venture Capital Association hopes to take this forum as an opportunity to share views, discover opportunities, gather resources, and achieve win-win development. It aims to build a “professional, service-oriented, and ecological” venture capital industry organization to promote the high-quality development of Beijing venture capital industry.
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