Wealth

And "How to break through the barriers of technology, cost, etc., solar street lights can be used in cities all over the country, which has become a problem that the urban road lighting industry must solve. The low photoelectric conversion efficiency of solar panels has always been an international technical problem. If solar street lights The photoelectric conversion efficiency can be increased from the current 15% to 50%, which means that solar street lights will have unparalleled technical advantages." Professor Wu said to Fan Wubing.

Fan Wubing asked after hearing this, "Isn't it easy to solve this small problem?"

"Of course it is not easy to solve, but we are working hard. The results in the laboratory are still relatively optimistic. Our most urgent requirement is to find cheap alternative materials that can reduce manufacturing while increasing the conversion rate. Cost." Professor Wu replied.

How to find alternative materials and how to increase the conversion rate is a business secret. Naturally, they will not openly talk about it at this time, but Professor Wu still hopes to talk to Fan Wubing about this matter. After all, without large amounts of funding, his own research would be unsustainable.

For projects like theirs, it is naturally possible to apply for project R&D funds from the state, but if you want to apply for project R&D funds, the approval procedures that need to be passed are too cumbersome, and whether you can get support funds in the end is also ambivalent. In the middle, Professor Wu naturally cannot pin all hopes here.

In the university campus at this time, the enthusiasm for transforming knowledge into productivity is still constant. In particular, high-tech incubators have always become a hot topic. Venture capital is constantly entering mainland universities, and then many weird things are developed and marketed. Although some of these are gimmicks from commercial operations, there are indeed some more valuable projects.

Professor Wu also hopes to introduce venture capital, but the amount of investment needed for projects like him is relatively large, and it is not possible to see the possibility of return for the time being, so it is difficult to find the right wind for a while. Investment companies came to support him.

When it comes to venture capital, Beijing and Biheru have to be.

North is often referred to as venture capital. In fact, the term should be translated as venture capital to be more accurate. Especially when talking about abbreviations, the meaning of "venture investment" is a bit inexplicable, but for people in the industry, "venture investment" is obviously more acceptable. Of course, it is quite appropriate for a “venture investment” to lose its rationality and become a “crazy investment” in one day.

Bi's willingness refers to private capital, which is generally extended to private equity investment, which means that it is not a loan or other means, but an investment method in which a return is obtained from the possession of shares. Obviously, it is prosperous than belonging to a special, high-risk, high-yield.

Professional Shen is separated from the comparison, even in the developed Western countries in Europe and America, it is only a matter of ten or twenty years. The concept of North has landed in China in all aspects, and it has only started in the past two years.

Generally speaking, the biggest and greatest difficulty when starting a business is usually the problem of funding. In the initial stage of a startup or at various stages in the first few years, it is also the time when credit funds and other funds are most unwilling to invest, because startups are full of risks, and risks that are often not quantifiable.

However, this kind of high risk often proves to contain very high and unusually high returns. Thus, North came into being. Professionals will not invest in this start-up for a long time. But after the risk of the enterprise is reduced, when the credit funds are willing to intervene, they choose to withdraw.

The main methods for North's withdrawal are four talks and mergers and acquisitions. Among them, Si Nao, as the most successful and profitable exit method, naturally became Shen's first choice.

Siguo is an initial public offering of stocks, or an initial public listing. Zhao, at the right time after the start-up company Qu or Four Talks, sells the stocks it holds, and can often get several times, hundreds of times or even hundreds of times the return of the initial investment. This is the special difference between Professional North and ordinary posts. .

There are two main sources of venture capital funds in the United States, institutions and very wealthy individuals. In order to reassure investors, venture capital companies themselves will also put out some money to invest together.

Venture capital funds generally come forward by venture capital companies and invite no more than 499 investors and investment legal persons, including themselves, to form a catty. limited liability company. In order to avoid taxation, funds raised in the United States are generally registered in Delaware, and funds raised in other parts of the world are registered in the Cayman Islands or the Bahamas and other countries and regions without corporate tax. If you suddenly encounter a A US fund registered in California or New York must have encountered a scammer.

As for why the number of shareholders cannot exceed 499, it is because according to US law, once a company has more than 500 shareholders, it must announce its own financial and operating conditions like a listed company, while venture capital companies I don’t want the outside world to know where I’ve invested, how my funds are operated, and the shares in the company I’ve invested in. They generally choose not to disclose their financial and operating conditions. Therefore, the number of shareholders cannot exceed 500.

But now there is also a pound. The problem is that there is no related GEM in the domestic stock market. In other words, there is no market mechanism that encourages SMEs to go public and raise funds.

This has caused a problem. In general, high-tech enterprises are relatively small in scale. At the beginning of the business, the domestic listing standards were not met at all, so it was impossible to obtain financing from this channel for development. After venture capital funds entered China, they would certainly support some projects, but they wanted to be in the domestic four suns. No, so the only development direction is to go public on the Nasdaq.

It is precisely because of this that in many films at this time, there are a lot of young people who started their own businesses today, and then they are favored by angel investors, and finally went to the Nasdaq to become a rich man’s **** plot. This is the truth, but Nasdaq is not so good. It still needs to have a whole set of operating mechanisms to support it, so for domestic small and medium-sized enterprises that are not familiar with the operating mechanism of the US stock market. Venture capital funds that are good at handling this set of affairs are indeed the best choice.

However, venture capital managers are not easy to deal with. For example, now, the first question that venture capital companies ask software company entrepreneurs is "what you want to do, is it possible for Microsoft to do it?" This is an inability. Answer the question. If you answer"

The six hundred and sixty-third chapter of the financial color P chapter catalogue, the general partner of PE and Bizen venture capital funds will then say "Since Microsoft does not have to do it." If the answer is "no" then the general partner People will say "Since Microsoft doesn't do it, it seems unnecessary to do it. What do you do with it?"

Another question is about the rate of return. Generally speaking, venture capital funds require more than 50 times the rate of return. Those who are lower than this expectation are not willing to consider it at all. This is naturally related to risk. The risk of investment is indeed relatively high, and it is necessary to ensure the success rate of the project as much as possible.

Like the solar energy utilization project mentioned by Professor Wu, ordinary venture capital funds dare not touch it at all, because the investment is too big and the risk is too big. The rate of return may be very small. What is this kind of project used for?

To engage in venture capital, we must also pay attention to a horizontal expansion capability, which means that once a product is made, it must be able to easily replicate at low cost and expand to related fields. For example, Microsoft's technology is very easy to scale horizontally. When a piece of software is made, you can copy as many copies as you want. The solar photoelectric conversion silicon wafer developed by Professor Wu cannot be expanded horizontally because it requires equipment for manufacturing semiconductor chips, which is costly, and it is impossible to expand without limit, because the remaining capacity of semiconductor manufacturing in the world is limited.

Since I use silicon chips to make computer chips, the profit is very high and there is no risk, then why should I do some solar power generation? If it is for the sake of world peace and green environmental protection, it is estimated that few people do it seriously. After all, as a capitalist, how to expand their capital at a high speed is the first priority, basically. When capital expansion leads to social responsibility conflicts, social responsibility can choose to avoid it by itself.

After Fan Wubing had a cordial conversation with Professor Wu. Professor Wu feels that the prospects of his project are really bleak, and it is obviously more difficult to count on government investment. It seems hopeless to use the power of venture capital. He just thinks of the hard work he has worked for for many years. It may be in vain because the funds cannot make ends meet, and I feel extremely distressed.

"Could it be that there is no future?" Professor Wu sighed.

Seeing that the old man's mood was relatively depressed, Fan Wubing said with a smile, "Actually, there are still some markets for Taiqi to use, but the situation at this time is still a bit inappropriate. Professor Wu, you don't have to be discouraged. Perseverance is victory."

Although he comforted the old man, Fan Wuyao did not promise anything. Although he was more interested in the solar energy utilization market, he knew that he was too enthusiastic and might not be able to take the initiative. For some things, he still had to pay attention to some strategies. There is good.

The two chatted for a while, and the meeting broke up. Sure enough, Fan Hyung was pulled over to show his face.

Boss Zhu asked someone to call Fan Wuyao over. He wanted to ask why he was so angry today, and what his views on top companies like this model of enterprise.

Fan Hyung was also there, and there were not a few people in total, they were all big figures with high authority.

Fan Wuyi didn’t have any psychological burden. After thinking about it for a while, he said, “It’s not a glorious thing to use high-tech to collect money. If this company is really that high-tech, it’s fine. The problem is that this is just selling dog meat with a sheep's head."

"The new economy in the United States is vigorous, and some high-tech industries have emerged in China. It shouldn't be an exaggeration?" Some people still expressed different views.

The current Internet economy represented by Nasdaq has really attracted the attention of Chinese people. Whether it is from the central government or the local area, they all have a realization that this thing comes with money, but everyone has not considered the prosperity of the stock market. It is not necessarily made by relying on real performance. In most cases, there is a bubble in front of it.

Fan Wubing said to everyone, "If it is the usual situation, in terms of the current situation of Nasdaq. It has entered the high-risk area, but until now everyone thinks it is worth the money, and the enthusiasm is unabated. , What is the reason?"

After hearing Fan Wu's words, several people thought deeply, obviously not completely ignorant of it.

"The reason is very simple." Fan Wuyao explained in a simple way. "Practice has proved that every financial crisis or the bursting of the stock market bubble is the craziest time of the market. This is the reason. But in the most prosperous moment, there are only a few people who believe that bad luck will come~www.wuxiaspot.com~ This is very abnormal. The reason is that someone is constantly blowing bubbles for everyone. Public opinion that never shatters."

Boss Zhu nodded his head again and again, feeling that Fan Wubing's words seemed to make some sense.

"Before every economic crisis, or before the stock market bubble bursts, there will be some public opinion advocates. This time is naturally no exception. It is nothing more than the new economy is different from the past, and the information industry has broken the traditional economic laws." Fan Wuyi The mystery was revealed in one word. "But, everyone should pay attention to one thing. It is that when a big show reaches the end, it needs to end. This is an objective law and cannot be violated. Nowadays, people who sing this big show want to make this big show. It lasts a little longer to make them more popular, er. They make a little more money, so they need to create some public opinion, which means that the height of the scene has not yet come, and the good looks are still to come. However, the energy of the actors is exhausted, and they will go on strike. In this way, when everyone is happiest, the small pillars of the small platform will stop working. The scene of group discussions and swearing will inevitably appear in the end. If there is a winner in this, it is nothing more than the people who planned this big show, those behind the scenes."

After listening to Fan Wubing’s words, everyone felt quite uneasy in their hearts, but they also admitted that Fan Wubing’s words were indeed very reasonable. After all, this big show ended, but it’s not clear when and where he will fall. Just land?

Recalling that the current domestic stock market is also following the Internet economy, and the speculation is in a mess, the more I feel that Fan Wuyi has to listen carefully.

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