China’s fast-growing startup scene is somewhat notorious for overzealous funding rounds and skyrocketing valuations for mysteriously opaque products. Until mid-2015, wave after wave of funding entered the market, only to be hampered in the second half of the year increased saturation.

So how will China’s startup ecosystem react to a more risk-averse funding environment? According to Chinese startup guru Kaifu Lee it’s just the medicine China tech needs.

“China’s startup industry has experienced both the so-called ‘capital bubble’ and ‘capital winter’ in the last year. However this year I see more pragmatic entrepreneurs who are getting better [in their] knowledge of entrepreneurship.”

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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.