At Macworld Asia Conference this year, Lu Gang, founder of TechNode, had on-stage interview with Hugo Shong (Xiong Xiaoge), founding partner of IDG Ventures, for the third year in a roll. The conversation covers a variety of topics, raging from the rise of post-90s gen entrepreneurs to venture capital in the U.S. and China.

According to Hugo, his happiest moment last year is when IDG successful took exit from 91 Wireless after Baidu acquired the company with US$1.85 billion. In 2006, IDG raised around US$300 million funding together with Accel Partners and they invested in around 20+ mobile Internet startups. Back then the business model of mobile Internet services was not formed and most of the other VCs held a wait-and-see attitude towards this sector.

As young entrepreneurs are becoming an unneglectable force in Chinese tech industry, IDG is putting more emphasis on startups founded by post-90s gen teams. The venture capital has invested 14 such projects as of present and held campus startup competitions in 18 universities all over the country. Last week, IDG set up a US$ 100 million fund which is dedicated to help these young entrepreneurs.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.