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

Steve Blank

The first wave of startups began when R&D centers and universities began to provide the technology and seed capital for new startups that were spin-outs or spin-offs. 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.

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

Steve Blank

The first wave of startups began when R&D centers and universities began to provide the technology and seed capital for new startups that were spin-outs or spin-offs. 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.

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Innovation, Change and the Rest of Your Life

Steve Blank

And for consumer hardware, no startup has to build their own factory as the costs are absorbed by offshore manufacturers. Third, venture capital has now become Founder-friendly. A 20 th century VC was likely to have an MBA or finance background. A unicorn is a startup with a market capitalization north of a billion dollars.

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