Zhang Yang

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YOUNG entrepreneurs and investors were invited to share their insights and experiences of starting and running businesses during the 2017 Youth Talents Innovation and Entrepreneurship Summit held in Longhua District yesterday.

One of the guest speakers was Zhang Gong, founder of Chi-Biotech, a Longhua-based biotech company focused on developing leading genetic sequencing and data analysis technologies.

According to Zhang, he saved his wife’s life by using an algorithm that he developed after his wife was infected by drug-resistant bacteria. After that, he founded the biotech company in Longhua and developed a genetic sequencing system to help more patients like his wife.

Xu Ning, deputy secretary general of the Shenzhen Science and Technology Service Association, emphasized the significance of business partners for startups during his speech.

He said the best example of business partners in China is Liu Bei, Guan Yu and Zhang Fei, who jointly built the Shuhan Regime during the Three Kingdoms period in ancient China. According to him, Liu, Guan and Zhang made a good team because they knew how to draw on each other’s strengths, embrace differences and share resources with one another.

Xu said business partners in a startup should have similar experiences, share common values and be driven by the same motive. “Partners shall not use their friendship to make a profit. Instead, they should maintain their friendship with common interests,” he said.

Another guest speaker, Zhao Xianming, has worked as an investment manager at Shenzhen Capital Group for many years. He said investors usually emphasize the work experience of the founding members of a startup and consider the practicality of the startup’s business model before funding it.

For a technology-oriented startup, investors will consider whether the startup’s technology would be well-accepted by customers and if the technology would be irreplaceable in the future. Besides, mass production, customer structure and market situation will also be taken into consideration by investors, Zhao said.

The summit was organized by Longhua District High-level Talents Promotion Association, with the aim of building an exchange and cooperation platform for young talents in the district.