BUSINESS Hurun Research Institute releases the 4th Hurun China Under 30s To Watch

BUSINESS

Hurun Research Institute releases the 4th Hurun China Under 30s To Watch

By Ni Tao | People's Daily app

18:02, November 05, 2020

Rupert Hoogewerf addresses the audience. /Photo provided to People's Daily

The Hurun Research Institute, together with Jiangsu-based pharmaceutical giant Hansoh, today released the Hurun China Under 30s To Watch 2020, a list of China’s most successful entrepreneurs under the age of 30. This is the list’s fourth year.

This year, 208 individuals from 184 companies and ten main industries made the list. The average age was 28, with 82% male and 18% female.

Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher, said, “The world needs entrepreneurs today more than ever. First, to help rebuild the economies post-Covid; and second, to start businesses in this 5G and AI-led technological revolution. Hurun has been promoting entrepreneurship for the past twenty years, and I hope the Hurun China Under 30s To Watch can give recognition to some of China’s most talented young entrepreneurs. Investors, local governments and bigger companies are all looking to find the next big thing, to find the next Alibaba or Tencent.

He added that China’s ecosystem for entrepreneurs is world-class. Local government policies, the activity of investors, the power of the top school alumni associations, the launch of the STAR boars, as well as the presence of so many world-class entrepreneurs have combined to make for this world-class entrepreneurial ecosystem. The Big Six Chinese cities of Beijing, Shenzhen, Shanghai, Hangzhou, Guangzhou, and Suzhou account for half of this year’s Hurun Rich List, for example.

According to the list, ZhenFund led by Bob Xu Xiaoping ranked first among the list of Best Investment Companies for the second consecutive year, IDG Capital overtook Sequoia Capital China in second, Sequoia China and Tencent Investments tied for third. These investment institutions play a very important role in promoting young entrepreneurs.

“The power of the alumni network is worth being aware of, especially for China’s top universities and business schools,” he said, adding, “If you are looking to predict the future of China’s economy, look no further than the top young entrepreneurs from the Hurun China Under 30s To Watch.”

The Hurun China Under 30s To Watch 2020 aims to identify China’s top entrepreneurs aged 30 or under. This year’s cut-off for the age limit was  November 1, 1989.

The main source of candidates was from the investor community, cross-checked against media, government and other databases. Key selection criteria included the growth of the company’s key metrics, especially its valuation, as well as the position of its industry. The Hurun Report short-listed 592 candidates from a pool of over 1,000 candidates, with 204 making the final cut.

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