Legendary Chinese angel investors Xu Xiaoping and Wang Qiang are not simply content with being Angels just for startups; as former educators, they also see the philanthropic benefits of investing in the next generation of entrepreneurial leaders.
Sept. 7, Xu and Wang, founder and co-founder of ZhenFund, one of the most prominent angel investment funds in China, were joined by a group of startup CEOs in visiting Duke Kunshan University. The two investors talked about entrepreneurship as honored guests of Duke Kunshan’s Distinguished Speaker Series, and launched the Future Partners internship/scholarship program which is dedicated to fostering entrepreneurship among Duke and Duke Kunshan students.
‘ZhenFund and Duke Kunshan University are aligned in our vision and mission,’ Denis Simon, executive vice chancellor of Duke Kunshan University, said in his welcome speech. ‘We are an entrepreneurial, innovative start-up university that is looking to build a new institution from scratch; and our goal for our students is quite ambitious, too ‘ we don’t want our students to simply take jobs that currently exist, but we hope that Duke Kunshan students will become job creators in the future.’
Denis Simon
Xu Xiaoping’s fun-filled speech began with a flashback to how he transformed from a successful entrepreneur to an investor. He then shared some insights into the recent entrepreneurial trend among college graduates, as well as the perks of working for a start-up. ‘Sometimes your choices are more important than you working hard, and becoming an entrepreneur is definitely a wise and rewarding choice in this era,’ said Xu. ‘People used to believe that starting your own business means a low income level and high income instability, but according to a study recently published by the international Institute for the Study of Labor, the mean income for entrepreneurs is almost 50% greater than for ’employees’. Besides, working for a start-up will give you a higher income, rich industry experiences, a clear career path and a strong sense of achievement.’ Prior to founding ZhenFund, Xu Xiaoping was a co-founder and former vice chairman of New Oriental Education & Technology Group, the largest provider of private education in China.
Xu Xiaoping
Wang cited ’17zuoye.com’ as an example to illustrate how entrepreneurs realize their dream through exploring all sorts of possibilities. ‘A successful education should encourage its students to explore all kinds of possibilities in their life,’ said Wang. ‘Start-ups are like a laboratory ‘ it can help you gain information that you need and ‘unlearn’ what you don’t need in a very short period of time.’ The life story of Wang Qiang, co-founder of ZhenFund and also a co-founder and former vice president of New Oriental, has always been a source of inspiration for young entrepreneurs.
Wang Qiang
The two enlightening speeches were followed by a lively round-table discussion with CEOs from startups that are backed by ZhenFund. The CEOs vividly recounted their own entrepreneurial journeys, from the successes and failures they experienced, to how they were ‘smiled on’ by ZhenFund, to encourage the students to follow their passions and make a real impact on the world. As CEOs of fast-growing start-ups, they also invited Duke Kunshan and Duke students to intern at their companies.
Roundtable Discussion
ZhenFund and Duke Kunshan University’s leadership team then signed an agreement to officially launch the Future Partners internship/scholarship program. According to the agreement, Duke Kunshan students and Duke University students will have opportunities to intern at ZhenFund and its portfolio companies, and the 10 most competitive students will receive extra ZhenFund scholarships.
ZhenFund-Duke Internship/Scholarship Program Launch Ceremony
Touched by Duke Kunshan University’s vision to spearhead the future of innovative higher education, Xu Xiaoping accepted the invitation to join the university’s advisory board, which is an international network comprised of distinguished business, civic and higher education leaders committed to assisting Duke Kunshan in advancing its mission. Liu Jingnan, chancellor of Duke Kunshan University congratulated Xu on his new role with a Certificate of Appointment.
Chancellor Liu Awarded Xu a Certificate of Appointment
Besides Duke Kunshan students, alumni and friends who were on campus, current MMS: Duke Kunshan students and other Duke students on Duke campus also joined the event and interacted with the guest speakers virtually via the university’s teleconferencing system.
Students on Duke Campus Joining the Event Virtually
