On November 3, at the 2024 Hard Technology Innovation Conference Series – Photonics Industry Summit, Mi Lei, founding partner of Zhongke Chuangxing, released the “Hard Technology ESK Value Investment Responsibility Report (2024)” (hereinafter referred to as the “ESK Report” (2024)》”). This is the second ESK report released by China Science and Technology Star since 2023.
At the press conference, Mi Lei emphasized the importance of patient capital and ESK to technological development. He said: “Every major technological breakthrough in history has been accompanied by innovation in the financial field. Today, technological innovation is difficult and has a long cycle. Financial innovation must be synchronized with the technological revolution. It is crucial to develop patient capital and promote ESK value investment.”
Times call for patient capital
Since its establishment in 2013, Zhongke Chuangxing has patiently invested in forward-looking technology fields, such as photonic technology, aerospace, large models, fusion energy, etc. The reason why Zhongke Chuangxing constantly emphasizes the importance of patient capital is because they deeply understand the long-term value of hard technology – hard technology can not only create knowledge value, but also bring social value and economic value.
It is under this understanding that Zhongke Chuangxing took the lead in proposing the hard technology ESK value concept in China in 2019. “E” refers to economic value, “S” refers to social value, and “K” refers to knowledge value. In 2023, Zhongke Chuangxing further launched a complete ESK value system.
In this regard, Mi Lei said that the purpose of proposing and promoting the ESK value investment concept and system is to find some core laws and principles from a more fundamental and deeper perspective to promote the healthy development of China’s venture capital market and truly promote science and technology. progress and economic growth. This is similar to the original intention of proposing the concept of hard technology.
Continue to expand the ecosystem and jointly build ESK
In the “ESK Report (2024)”, China Science and Technology Star once again demonstrated its latest pragmatic actions in the three fields of economy (E), society (S) and knowledge (K).
In order to promote the further resonance of technology and industry, China Science and Technology Star and its partners have built an exploration platform to bring together enterprises, local governments and industry leaders to jointly promote scientific and technological innovation. For example, China Science and Technology Star and “Chinese Entrepreneur” magazine jointly launched a hard technology exploration plan, organizing entrepreneurs and scientists to visit GCL Group, 360 Group,Luxshare Precision,Zhongji InnoLightand other industry leaders to exchange and learn.
At the same time, with the process of globalization, Chinese hard technology companies are actively implementing the “going global” strategy. In this regard, China Science and Technology Star cooperated with the Yabuli China Entrepreneur Forum to host the “Renewable Energy and New Paradigm of Economic Growth” side event at the “China Corner” of COP28, and joined hands with a number of hard technology companies to participate and promote the company’s business. To enhance global competitiveness, promote global technological exchanges and cooperation, and promote technological progress and industrial upgrading.
In the field of knowledge value, especially the industrialization of scientific and technological achievements, China Science and Technology Innovation Star is also constantly exploring. The “ESK Report (2024)” introduced that the industrialization of domestic scientific and technological achievements has always faced multiple complex challenges such as technology, management, market, and law. To this end, China Science and Technology Innovation Star conducted a large number of interviews and research, combined with practical experience to sort out the entire process map of the industrialization of scientific and technological achievements, and analyzed the difficulties of industrialization from multiple factors such as institutional mechanisms, ideas, policies, talents, funds, institutions, platforms, and environment. Pain point. In the future, China Science and Technology Innovation Star will focus more on cutting-edge incubation, tapping the potential of hard technology earlier, cultivating patient capital in a deeper way, and moving towards the medium and deep water areas for the transformation of scientific and technological achievements.
In order to promote the popularization of cutting-edge scientific knowledge, China Science and Technology Star launched the “Cape of Good Hope” science salon event in 2024, covering cutting-edge scientific and technological topics such as quantum computing, RISC-V, and gene editing. The rotating “scientific host” initiates the discussion topic, and invites about ten guests to discuss together in each issue to stimulate innovative thinking and explore the world of science.
Let enterprises “shine” together
The “ESK Report (2024)” proposes that implementing the ESK value investment philosophy is not only a matter of Zhongke Chuangxing itself, but also a co-construction process that expands from the inside out. In this regard, the “ESK Report (2024)” selected 10 investment cases for in-depth analysis and interpretation, demonstrating the company’s understanding and practice of the ESK concept.
For example, Star Ring focuses on commercial controllable fusion reactors, using high-temperature superconducting spherical tokamak technology, with the goal of commercializing and miniaturizing fusion energy. Another example, raceFullerSri Lanka has made progress in the important field of quantum dots, overcoming a number of technical difficulties since its establishment in 2014, and achieving the launch of the industry’s first quantum dot Micro-LED product in 2023.
In more fields, such as Wofei Changkong in the field of low-altitude economy, Zhongke Kuyuan in the field of quantum technology, Zhipu AI in the field of artificial intelligence, Hydrogen Yi Technology in the field of hydrogen energy, Bocui Cycle in the field of circular economy,solar energyRenshuo Light Energy in the field of photovoltaic cells, Qiushi Spectrum in the field of micro spectrometers, and Shanghai Sulfur Yuan in the field of new lithium-sulfur batteries have all demonstrated the value of the ESK concept in promoting innovation and sustainable development.
At the end of the press conference, Mi Lei pointed out that if China wants to achieve a breakthrough in the fourth technological revolution, it needs to build a complete ecosystem, innovate and reform the financial system, financial capital should support technological innovation, investors should value the long-term development of enterprises, and venture capital must Carry out innovative configurations to promote industrial upgrading and new productivity breakthroughs.
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