Entrepreneurs In The Yangtze River: Seed Fund To Support Zero Cost Entrepreneurship

In winter, the campus is deciduous, but several college students who are in the process of starting their own business are full of energy and are busy in the new year.

"Heng Zhiyuan, moving and healthy".

Perhaps it is students' entrepreneurship, the idea of organizing companies has more cultural flavor.

With the guidance of "dynamic" blue and green logo, a hot student enterprise is coming.

It is a "sparrow small, five Zang" office, a total of two inside and outside, are used to receive customers and office research and development, office furniture and facilities are available.

If it were not on campus, it would be hard to imagine such a decent company coming out of the three grade two students in the Yangtze River, Liu Zhibiao, and Wen Xu, who are in the two year of the age of three. What makes people more surprised is that they have not invested in their own businesses.

It is said that the three people in the Yangtze River created "balance" and had to go back to the 2004 Challenge Cup National entrepreneurship program competition.

As a student of the Department of sports science of Shanghai Institute of Physical Education, he feels deeply at the Yangtze River that the current fitness club is far from the standard of scientific movement. "If we go to the fitness club movement, we will find that only the classes that are classified according to the difficulty degree, or choose sports types according to their own preferences, there is no mechanism to classify them according to their physical condition."

He believes that the gym generally only provides hardware conditions, that is, fitness equipment, but does not configure software support, although there are personal trainers, but according to different health conditions and provide sports advice services have not been enjoyed by the majority of the crowd.

So he had an idea that he could design such a system that he could work out a motion plan for people according to his physical parameters. It was like seeing a doctor in a hospital, a doctor prescribing a prescription, and then the client took the prescription, so he could go to the gym and exercise with a definite aim.

To this end, the Yangtze River and Liu Zhibiao and others began to turn creativity into reality.

The third party fitness management system, which represents the Shanghai university students, won the bronze medal in the national entrepreneurship competition.

Winning the prize is not their ultimate goal. The real opportunity for practice is what they have been looking for and waiting for, and money is the deepest ravine in front of them.

One day, the counselor brought an inspiring message to the Yangtze River: the Shanghai municipal government set up the Shanghai university student technology venture fund to support the technological entrepreneurship of Shanghai college graduates, with a total capital of 150 million yuan, and graduates from Shanghai universities with scientific and technological achievements can apply to the relevant departments.

This good will undoubtedly make their long cherished wish possible in the short term.

Venture capital is divided into two categories: Seed Fund and Angel Fund.

The seed fund is mainly invested in a small amount of unpaid funds (the general project does not exceed 100 thousand yuan), and incubated short-term technological incubation for university students. The angel fund supported the university students to establish enterprises on the basis of independent technological achievements in the form of free investment or investment support, with a total support of no more than 300 thousand yuan.

What kind of fund do you apply for?

After discussing the three people, they decided to start with project incubation.

"Although we were also in line with the conditions for starting a company, there was no mature product on hand, and even if the concept was established, the company would encounter many difficulties in its operation.

Sharpening your ax will not delay your job of cutting wood.

Even if college students start their own businesses, we hope to go a bit more steadily. "

Yu Changjiang told reporters.

In one month, it revised and perfected the business plan of the original competition; after one month's time, it was examined and discussed by commercial experts; after one year's award, the three people signed a project incubation contract with the venture capital fund, and got 50 thousand yuan "seed fund", becoming the first beneficiary of the Shanghai University Science and technology venture fund.

After money, the first thing is to "settle down".

Originally, at the application point of the venture capital fund, University of Shanghai for Science and Technology provided free office premises for start-ups, but due to the particularity of the project, "balance" was decided to work in our school.

Students' entrepreneurial activities have also been strongly supported by schools, providing nearly 50 square meters of office space and part of office furniture. Even utilities and other miscellaneous expenses are borne by the school, and each month symbolically receives 500 yuan rent.

The office is located downstairs in Shanghai citizen Physique Research Center, which is specially arranged by the school.

The company can "close to the floor" and use advanced equipment to obtain national physical quality parameters for research.

"At this point, we have saved a lot of start-up costs, and one of the students is also a college student, but it is not the beneficiary of the Shanghai science and technology venture fund. Although it has enjoyed the rent concessions from the school, it still needs to pay 2000 yuan a month on the rent, which is a great expense for student enterprises."

Yu Changjiang said.

Finding a safe place, several directors first bought some necessary office equipment for office.

Then, we devotes ourselves to the development of system software and network platform as well as personnel training.

Using the advantages of campus, the "mobile" students are friends who are interested in starting a business on campus. According to the standard of work study program, they pay 220 yuan per person per month.

The three bosses voluntarily abandoned this part of their income.

Yu Changjiang said: "entrepreneurship always requires investment. Although we do not have actual capital investment in the early stage, we will make wage as a part of investment and make" Heng move "grow faster.

In order to prepare for the next step in the investment and operation of the entity company, after consulting the Yangtze River and its partners, the company decided to register the company.

"Generally speaking, a registered company is a time-consuming and hard work. It costs us 3000 yuan to 5000 yuan to run various departments, and our registered company is managed by the venture capital fund. They can communicate well with the government departments. They not only save a lot of time, but also have a lot of concessions on the cost, which only cost more than 1000 yuan."

Six months later, "Heng move" completed the requirements of the incubator agreement, completed the research and development of the system software, the construction of the network platform and the publication of related papers.

And all this is controlled within 50 thousand yuan.

"The issuance of venture capital funds is not a step in place, but rather a system of reimbursement. The relevant consumer certificates should be sent to the departments to make a lot of audits. Although the process is somewhat cumbersome, it can play a very good role in fund regulation."

Yu Changjiang said.

Although it is only a student enterprise, the project of "weighing and moving" attracts the attention of many venture capital in the society.

Yu Changjiang told reporters that a lot of venture capital came to us, hoping to participate in it.

These risk funds are less than 1 million, more than 2 million, most of the price even to 3 million yuan.

However, in the face of seven digit funds, three student entrepreneurs have repeatedly decided to "stay behind" college students technology venture fund.

"The biggest attraction of the Shanghai University Science and technology venture fund is that it does not require rewards. Even if students fail in entrepreneurship, if they give the exact reasons, entrepreneurs will not have to pay for failure," explained the Changjiang River.

If we really accept venture capital, it will not be bound.

Although its funding is limited, it can be said to be zero risk.

Although venture capital has a lot of financial strength, but once the venture fails, the project operators need to shoulder a high responsibility. This is not the best choice for our college students whose operation experience is not very mature.

So these days, they are busy doing the final sprint for the second phase of the "Angel Fund", which has set up an enterprise based on independent technological achievements for 300 thousand yuan.

According to the introduction of the Yangtze River, because they have successfully completed the first stage of incubation work, to achieve the various indicators, through examination, "Angel Fund" should not be a problem.