We Build GREAT Companies！
- Founded in 2005, FIRST startup incubator in China
- Invested 100+ startups, 10+ female entrepreneurs, 10000+ employees
- Company operation in 75+ countries, $20+ billion total market cap
Shenzhen Bay, Nanshan
Beijing, Shenzhen, Silicon Valley
Support entrepreneurial dreams, create great companies, and unite entrepreneurs worldwide!
INVESTMENT STRATEGY
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Ploughing and sowing, Tiangong Kaiwu, 1771 edition Early Stage
Growth CompaniesDiscovering teams that adhere to integrity, perseverance, and possesses far-sightedness and insight.
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The draw loom, Tiangong Kaiwu, 1771 edition Collaborate & Cooperate
Collaborate to create a company strategy, develop a plan for growth, refine the management system, and build a core team
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Casting a tripod, Tiangong Kaiwu, 1771 edition Creativity, Team, Capital Allocation
Assisting entrepreneurs and management team to build up the company and help to grow until it can be self-sufficient
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Carving jade, Tiangong Kaiwu, 1771 edition Deep Value and Competiveness Focus
Focus on the startup's core strengths, long-term value, and industry leadership, rather than short-term financial measures
Portfolio
FOUNDER'S THOUGHTS
After more than a decade of trials and tribulations, Chinese entrepreneurs have undergone significant changes in their backgrounds, mindsets, and abilities. Nowadays, the motivation for entrepreneurship goes beyond simple impulsive risks or survival, becoming a deliberate choice after careful planning. The composition of entrepreneurial teams, sources of funding, management capabilities, and strategic planning for startup companies have greatly improved. Throughout my experience as an investor and entrepreneur, I have always sought to answer several questions:
Why start a business? What kind of business to start? How to prepare for entrepreneurship?
Who are the true entrepreneurs? Who will be successful entrepreneurs? How to build an entrepreneurial team?
Why do most startup companies ultimately fail? How can startup companies survive? How to grow and become leaders?
I have attempted to find the perfect answers to these questions, but the "perfect answers" I once obtained have been constantly revised and even overturned. I hope to join hands with more entrepreneurs in the pursuit of the "secret" to entrepreneurial success, even though I know there are no perfect or definitive answers to these questions. However, thorough contemplation of these questions is the starting point for successful entrepreneurship. Perhaps the "process" of seeking answers is the true "result." This is the original intention behind the establishment of Innovation Works.
We identify outstanding entrepreneurs, cultivate the "genes of success" for enterprise development, and lead startup companies to grow into "great companies." We believe in the coexistence of innovative ideas and rigorous processes, which is the combination of "art" and "science" in entrepreneurship.
The future of China in the new century depends on the growth of a new generation of entrepreneurs/entrepreneurs with a sense of social responsibility and a sense of historical mission. We look forward to outstanding entrepreneurs, entrepreneurs, investors, and more friends joining this cause!
Mark Mai
VenturesLab
Founder and Producer
May 2005
WORDS OF WISDOM
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Yang Pu Moving His Family (detail), anonymous The epitaph
Perhaps your lifelong goal is to establish a successful company, but in the end, what will be inscribed on your tombstone are "Kind Father (Mother)," "Beloved Companion," "Generous Friend," rather than "Great CEO." You will discover that what you cannot take away is fame and wealth, while what remains are emotions and memories.
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Flowers of the Four Seasons, artist unknown Born unequal
Everyone is born equal in the societal sense, at least. However, from the very first day of their inception, every company is inherently unequal. The composition of the team, the mission and vision, the strategies and plans, the business model, the management systems, and other elements that make up the "genetic makeup" of a company can vary greatly.
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Two Scholar-Musicians in a Landscape, Ming dynasty, anonymous The leader
A competent leader is essential within an entrepreneurial team, and this type of leader is not solely determined by funding, technology, or patents, nor is it based on who came up with the best ideas. This kind of leader is someone who is recognized by team members from the bottom of their hearts through years of studying and working together. Everything else is just empty talk.
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Wu Zhen, Crooked Pine, Yuan dynasty Less than one in a hundred
There is an unverified statistic that states within 5 years, 90% of startup companies will fail, and within 10 years, 90% of the remaining 10% will also exit the market. This means that after 10 years, less than 1% of startup companies will survive. Becoming an industry leader among those who survive is even more rare.
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Dai Jin, Landscape with Daoist Immortals Playing Weiqi, Ming dynasty Strategy first
In the investment community, some people say "People, People, and People," while others emphasize "Execution, Execution, and Execution." I believe that "execution capability" is a "default prerequisite" as a management skill. If an entrepreneur lacks even this ability, it would be risky to venture into the business world. However, before discussing "execution capability," it is important to clarify the "strategy" because it is the fundamental source of long-term core competitiveness for a company. If success is solely based on cost or price competition, it represents a lower level of victory. As the saying goes, "Victory is decided in the general's tent before the battle begins."
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Han Gan, Night-Shining White, Tang dynasty The 80/20 rule
The 80/20 principle of entrepreneurial success: 20% is strategy, 80% is execution. A wrong strategy renders execution meaningless. With the right strategy, execution results can vary greatly. Before starting a business, it is important to invest energy in clarifying the strategy, and once formulated, it should be executed for at least 3-5 years. A startup cannot afford the turmoil of changing direction midway, just like turning around a fast horse is difficult and dangerous. There are legends about how entrepreneurs react swiftly, correct mistakes, and turn the tide... However, in most cases, our business transformations are not that fortunate. A more realistic approach is to anticipate errors in advance and be prepared in strategic deployment.
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