The Rise of Chinese Venture Capital – (Part 3 of 5)

Steve Blank

The first post described how China built a science and technology infrastructure to support advanced weapons systems development. 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. These local governments financially supported the startups because, by locating in these zones, the new ventures were seen as contributing to local economic development.

Entrepreneurs are Everywhere Show No. 26: Javier Saade and Hillary Hartley

Steve Blank

government is the biggest spender and the biggest investor in research and development in the world. And some of it could be in development. So essentially, the government invests in both (research), and (development).” Essentially the SBIR and STTR programs took ~2% of that $140 billion research and development budget and invested it in small businesses who want to commercialize this government investment in research and development. The U.S.

SBIR 133
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The Rise of Chinese Venture Capital – (Part 3 of 5)

Steve Blank

The first post described how China built a science and technology infrastructure to support advanced weapons systems development. 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. These local governments financially supported the startups because, by locating in these zones, the new ventures were seen as contributing to local economic development.

The rise of the “successful” unsustainable company

A Smart Bear: Startups and Marketing for Geeks

Freeloader — On $3m invested, sold for $38m in 1996 — shut down in 1997. But all that investment in growth and sales force didn’t have a long-term payback, and the actual value of the product to small businesses wasn’t as high as claimed, even though the simplest of customer development reveals this fact (ask any restauranteur). It’s not about the financing path, it’s about what you’ve decided to build.

IPO 200