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DragonVenture Representatives Invited to Speak at Prominent Beijing
Science-Technology Park
Beijing, China, April 2, 2001 - Representatives from
DragonVenture, Inc. were invited to speak today as part of
Zhongguancun Science-Technology Park's "Venture Capital Educational
Seminar Series." There were over 40 founders and CEOs of startups in
attendance to hear speeches from Tony C. Luh, Managing Director of
DragonVenture, Edwin R. Yeh, Vice President of Technology of
DragonVenture, and Charles Law, Principal Attorney for King and
Wood, LLP, and Legal Advisor of DragonVenture. Commonly referred to
as the "Silicon Valley" of North China, Zhongguancun has over 6000
startups on its list of incubatee companies.
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Invited speakers to
Zhongguancun Science – Technology Park in Beijing,
China.
From L-R: Charles
Law, Principal Attorney for King and Wood, LLP, and
Legal Advisor of DragonVenture;
Tony C. Luh, Managing Director of DragonVenture; and
Edwin R. Yeh, Vice
President of Technology of DragonVenture.
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The DragonVenture representatives spoke about the following topics:
- The Core Competency of VCs - How They Came About and How to
Leverage Them, given by Edwin R. Yeh.
- Starting A New Business, given by Tony C. Luh.
- Introduction To Reverse Merger Via Over-The-Counter Bulletin
Board (OTCBB) Market As A Potential Route To Exit, given by
Charles Law.
Dr. Wang Luyu, Vice President of the Administrative Committee of
Zhongguancun, gave the opening speech and introduced each of the
speakers. He welcomed the increased cooperation between
DragonVenture and Zhongguancun and expressed interest in providing
the startups continued opportunities to absorb and exchange insights
from experts in Silicon Valley. He also announced the opening of a
permanent office in Zhongguancun for DragonVenture to provide
soft-incubation services to qualified startups.
Tony Luh, Managing Director of DragonVenture, thanked the officials
from the Zhongguancun for providing the opportunity to engage with
the startups and to share DragonVenture's knowledge and experience.
Luh envisions monthly seminars involving DragonVenture, and hopes to
provide individual consultation to startups in Zhongguancun on an as
needed basis. DragonVenture will also be looking for particularly
promising startups to invest in and provide in-depth incubation
consulting services to.
Edwin Yeh, Vice President of Technology gave a speech about the core
competency of VCs based on his own personal experiences and his
experiences with talking to other Silicon Valley VCs. The intent of
the speech was to peel away the mystery of VCs (which are not yet an
established institution in the emerging China market) and increase
the understanding and mutual trust between both VCs and startups.
Luh followed with his speech on Starting a New Business. Luh touched
on the critical success factors a startup needs to have and related
some of the typical traps and errors that startups encounter. The
talk was well received and created quite a few nods from the
audience.
DragonVenture's Legal Advisor, Charles Law, then described an
alternative exit strategy that, while not as well-known as other
exit strategies, is potentially viable for certain startups in
China. Rather than going IPO in public markets like the New York
Stock Exchange or NASDAQ, both of which have stringent requirements,
Law described an alternative exit strategy which included being
listed on the Over-The-Counter Bulletin Board (OTCBB) market via
reverse merger. He gave a few examples of Chinese companies that
have successfully been listed including Bluepoint Linux Software
Corporation, a Linux software company based in China.
At the seminar's conclusion, the speakers were surrounded by
representatives from startups with questions. Several of them have
subsequently been asked by DragonVenture to submit business plans
and executive summaries for further review and possible engagement.
Through seminars and cooperation with institutions such as
Zhongguancun, DragonVenture hopes to cultivate deeper future
relationship as well as gain access to the future Microsoft, Cisco,
or Yahoo! of China.
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