China technology enterprises is changing from imitators to innovators
* 来源 : Financial Times * 作者 : admin * 发表时间 : 2017-02-08 * 浏览 : 0
In 2015, Chinese genome research institutions BGI's co-founder Wang Jun left, created a medical technology company called iCarbonX in Shenzhen, then China well-known venture capitalists to Wang Jun an olive branch, hope that he can accept their investment. Hillhouse capital founder Zhang Lei offered, no matter how much money Wang Jun needed, he will meet the requirements. But in the end, Wang Jun accepted Tencent founder Ma Huateng nearly $200 million in investment, while iCarbonX's valuation in the investment reached $1 billion.
The reason why these investors have so much enthusiasm for iCarbonX, one reason is that Wang Jun's work in the background of the big gene. Huada gene has now become a leading genome sequencing organization, and Bill and the foundation of the establishment of a close cooperation with the Melinda Gates. The company, which will be listed in Shanghai early next month, is expected to bring huge returns to Sequoia Capital and other early investors.
The transition from imitators to innovators
Not long ago, China's science and technology industry is mainly dominated by Alibaba's electricity supplier Empire and Tencent around WeChat to build the media empire. However, the passage of time. The value of China's science and technology industry is becoming more and more attractive. Although most investors are not optimistic about China's macroeconomic prospects, but the future development of China's science and technology industry is relatively optimistic.
In robotics, artificial intelligence, medical equipment and financial technology, Chinese is to change from the innovator imitator. This prospect makes investors feel that as long as the early action, they will be able to get a huge return. Market research firm CB Insights recently released the world's highest valuation of unlisted company list, ranking ten in the company before, four from China, five from the United States, there is a India company.
Just take a look at the latest documents of private Holdings Company Warburg group's newly established special fund in China, it is easy to understand how profitable Chinese companies investing in science and technology. Prior to 2016, Warburg group rarely create highly specialized funds, but only through a global fund to invest in Chinese enterprise transactions. Data show that just in 2015, Warburg Group invested $1 billion 500 million in mainland enterprises in China, the average return on investment over the past ten years, an average of 2.2 times.
For example, Warburg group had to China 58 city sites classified investment of $92 million, now this part of the shares worth $700 million, investment return rate is close to 8 times; in addition, Warburg group had to focus on mobile advertising platform "pocket shopping" investment of $29 million, now this part of the investment value of $650 million. This is also the Chinese peace group and return on investment in the local Chinese the highest rate of transactions.
Investment in China doubled last year
"Last year was the year of the dragon's roar," Citigroup wrote in a recent report on financial technology investment. It is precisely because of the strong performance of Chinese companies, Asia has replaced North America as the largest financial technology investment destination." According to Citigroup estimates, in 2016 China's venture capital investment has doubled, compared with the U.S. venture capital investment fell by 38%. In the global total venture capital, the proportion of Chinese enterprises reached 46%.
Chinese companies have also played a role in changing the characteristics of a large emerging market index. Morgan Stanley said in a report: MSCI EM index has now become a focus on the IT industry index." IT performance is not only more than the local enterprises, but with the accession of China's large Internet Co, science and technology industry to further enhance the proportion of the MSCI EM index. Morgan Stanley also said that IT sector accounted for 23% of the proportion of the MSCI EM index, which became the largest proportion of all the important index of the IT sector."
Silicon Valley entrepreneurs have always attached great importance to science and technology companies around the Pacific Rim, emphasizing the constraints faced by Chinese enterprise innovation. Many local colleges and universities in China still attach importance to the cultivation of Confucian culture, the choice of senior management personnel and research grants recipients, but also will be regarded as an important condition of loyalty.
The goal of China's technology companies is to change Silicon Valley's attitude. Wang Jun's iCarbonX is seeking to create a customer's "digital" or virtual health database to determine their risk of developing a variety of diseases, and then propose a plan to reduce these risks. Last month, Wang Jun revealed that he had a strategic investment in eight U.S. medical technology companies, with a total value of $350 million. In this case, the enterprises or technology companies as U.S. enterprises carry out the analysis, is a more difficult thing. However, iCarbonX and other Chinese technology companies believe that the Sino US trade will increasingly be seen as the merger between enterprises of the same strength.