【正文】 1. Explosive growth in the past 20 years: Annual Growth: 7%~9% of “Planned economy“ to “marketoriented economy” consumer consumption Building for Labor intensive MFG for export 2. Population: 25% of world Arable Land: 6% of world 3. “Factory of the World”: Value of world’s manufactured goods: .: 25% Japan: 16% China: 5% 4. To grow Service sector 。上海大學(xué) EMBA。LAN。 追求 “ 退出機(jī)制 ” ! 7 創(chuàng)業(yè) 投資功能 1. 協(xié)助經(jīng)營(yíng)團(tuán)隊(duì)創(chuàng)業(yè)及成長(zhǎng) 2. 協(xié)助企業(yè)募集資金 3. 協(xié)助企業(yè)建立略策聯(lián)盟及 多角化經(jīng)營(yíng) 4. 協(xié)助企業(yè)進(jìn)行長(zhǎng)期策略規(guī) 劃與發(fā)展 8 創(chuàng)業(yè) 投資與經(jīng)濟(jì)發(fā)展 (A) IPO in Silicon Valley 1999 85 Companies 2000 78 Companies 2001 15 Companies 2002 8 Companies 2020 1 Companies (InterVideo Went IPO on 7/18) (B) Economy VS. VC Economy → Stock Market ： 6 months+ Stock Market → IPO Market ： 6 months+ IPO Market → . Business ： 6 months+ (C) 結(jié)論： Bubble (Bad Economy) Finally hit . business after almost 2 years!!! ,則 2020年 9 硅谷成功因素 1. 學(xué)術(shù)：尖端研究多、創(chuàng)新能力強(qiáng) 高密度高水平的工程師 (史丹佛大學(xué)及柏克萊大學(xué) ) 2. 人文：自由思想、創(chuàng)新的思維 3. 金融：活潑的創(chuàng)業(yè)投資基金 4. 證券：資金大眾化及資金退出機(jī)制 5. 產(chǎn)業(yè)：支柱企業(yè)及產(chǎn)業(yè)鍵 6. 法律：智慧財(cái)產(chǎn)權(quán)、遊戲規(guī)則 10 硅谷四十年 1. Shockley Semiconductor Lab : 1956 Silicon Valley :“八叛客” (The Traitorous Eight) 2. Fairchild : 1957. 9月成立 3. Spinoff 1968 (a) INTEL (b) AMD (C) National ? Genesis (創(chuàng)世紀(jì) ) of 硅谷 4. . : KPCB : Mr. Kleiner ? 300家 .硅 谷 5. University : (a) Stanford (b) UC Berkeley 11 The VC “LANDSCAPE” in 2000 1980 1990 2000 of VC Firms in Existence 87 375 693 of Professionals 1035 3794 8368 of First Time VC Funds Raised 24 14 164 of VC Funds Raised This Year 57 82 497 VC Capital Raised This Year ($B) Avg VC Fund Size Raised This Year ($M) 12 Liquidation Statist