The Rise of Chinese Venture Capital – (Part 3 of 5)
Steve Blank
APRIL 12, 2013
By 1991, 70% of the Torch funded startups were getting bank financing for expansion and later stages of the new ventures, with local governments acting as guarantors. Being designated as a Torch Program startup gave banks comfort to provide loans to these ventures for technology commercialization. It went bankrupt in 1997.).
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