China's innovative entrepreneurs are chasing Silicon Valley - AVCJ Forum

"The Chinese entrepreneurs have copied copy the Silicon Valley model but what we have found today is that, at least over the past three years, Chinese entrepreneurs are now using more creative models than those being used in the US," said Chuan Thor, managing director at Highland Capital Partners.

Speaking at the AVCJ's Venture Capital Summit on Tuesday, Chuan cited cloud-based software provider Qihoo, which went public last year, as an example of a Chinese firm with a particularly innovative business model.

"Keep your eyes on China," he added. "Every year I tell my LPs that, as a group, the annual revenue growth rate of our portfolio companies in China is above 110%. You can go to the US and Europe and no one can gets over a 100%. It is not hard to make money in China, it depends on your strategy and how you plan to exit."

James Boettcher, a partner with Focus Ventures, pointed to the mobile internet space as an exciting area of growth in China - the country has 800 million mobile users. Although he doesn't see China rivaling Silicon Valley in the near future, he is unwilling to bet against the country.

"Entrepreneurial capitalism in under the skin of the Chinese and Asia is not far behind," Boettcher said.

 

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