Key facts
- Hopu Investments founder Fang Fenglei believes China should increase its reliance on private capital for tech innovation.
- He stated that a more market-based investment environment is crucial for commercialization.
- Fang identified the gap between scientific research and large-scale commercialization as a major hurdle.
- He called for more multi-disciplinary talent and tiered capital markets to address this challenge.
Fang Fenglei, founder and chairman of Hopu Investments, stated that China should foster a more market-based investment environment and increase its reliance on private capital to aid tech startups in achieving commercialization. Speaking at the Caixin Summer Summit in Hangzhou, Fang identified the critical challenge for China's innovation ecosystem as overcoming the 'valley of death'—the transition from scientific research to large-scale commercialization.
He suggested that addressing this gap requires a combination of factors, including a greater pool of talent with expertise across various fields, the development of multi-tiered capital markets, and an investment environment that is more driven by market forces.