Beginning with 2015, foreign technology media started questioning the blind worship of unicorns, but in China, the idea of “unicorn” still prevails. Add “unicorn” to anything and suddenly it’s the next big thing.
Last month, I held a roundtable discussion in Hong Kong with several unicorns from Hong Kong. I asked them what they think of the label. They were very modest—they did not feel the label means they were already successful. But for hundreds of Hong Kong entrepreneurs, becoming a unicorn is still their goal. It is a great achievement but it is also very hard to become a member of the unicorn club.
A unicorn, a company valued at $1 billion, does not fully reflect the long-term value of any company. Becoming a unicorn is just a new starting point. Its future development is worth deeper consideration, and there are innovations coming from “non-unicorn” deserving our attention and praise.
Beyond unicorns—this is the theme of our TechCrunch International Innovation Summit in Hangzhou. For the first time, we are also bringing the summit to Hangzhou, perhaps the fastest-growing city in China. It is not just the birthplace of Alibaba—it is now a leader in e-commerce, new retail, business services, and smart cities. Our aim is to bring the best companies and the whole ecosystem of Hangzhou to the international stage and join them with entrepreneurs and startups from around the world as well as other hot areas in China.
During the TechCrunch International Innovation Summit in Hangzhou, our main focus will be on artificial intelligence, self-driving cars, blockchain technology, new retail education, smart medicine, international investment, and other hot spots. We’ll also bring to Hangzhou the traditional innovation areas of the summit, new product launches, VC Meetup sessions, four major theme sessions, the Media Day, and pure Silicon Valley tech parties.
Innovation beyond unicorns, Hangzhou beyond e-commerce! See you in Hangzhou in July!
Dr. Gang Lu
TechNode, founder & CEO
TechCrunch China, Director