Startups, longer visas widen horizons for Chinese graduates in Silicon Valley
Updated: 2015-08-18 10:44
By Lia Zhu in San Francisco(China Daily USA)
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Chinese graduates who wish to land a job in Silicon Valley have more choices now, which means they can choose from well-established companies, ever-mushrooming startups or begin their own projects either in the US or China.
The Chinese students born in the 1990s have more career choices than those who arrived in the United States in the 1990s, said Olina Qian, founder of the Silicon Valley Association of Chinese Entrepreneurs (SVACE), an organization that aims to help professionals and entrepreneurs connect to resources. Qian herself came to the US for a master's degree program in 1999.
"At that time, every student wished to stay in the US after graduation, even if the job might not be their best choice," Qian said. "If you could be hired by a big-name company, you would be considered a lucky dog.
"But now, more and more graduates are not satisfied with a secure job," she said. "They want to launch their own startups or try their luck in innovative startups, partly because of China's rapid growth in recent years and the 10-year-validity visa between China and the US," she said.
Some investment funds in China, such as ZhenFund and IDG Capital Partners, put aside special funds for the startups of those born in the 1990s, the driving force of both consumption and innovation. In 2014, IDG Capital Partners set up a $100 million-fund for the 1990s-generation entrepreneurs.
If one can secure enough funding, then he or she can acquire legal status in the United States and launch startups; if not, the 10-year visa allows them to travel between China and the US more freely, Qian said.
Kedao Wang, a 24-year-old Chinese engineer, chose to join RelateIQ, an enterprise software startup in Silicon Valley, two years ago after he graduated from Stanford University. The company was acquired by Salesforce.com, a cloud computing company in San Francisco, for $390 million in 2014.
He said the experience at the small startup was valuable to his overall growth, as he was assigned important jobs in areas other than technology, such as marketing, product design and promotion.
"Compared with big companies, small startups allow programmers to see the developing result in a short time so that they can receive users' feedback in a timely manner," he said.
Wang became a leader responsible for developing a high-user viscosity browser plug-in within a month after joining the company.
However, not everyone is as lucky as Wang.
"Most of the people in startups are working hard and seeking opportunities," Qian said. "My advice for them is to establish your network, participate in start-up related activities, and share your ideas and challenges with others."
That's why her group SVACE has quickly become a popular startup community with more than 8,000 members since its founding in June 2014.
Among the members, including entrepreneurs, venture investors and tech professionals in the US and China, around 70 percent are high-tech company employees, 20 percent are recent graduates and the rest are students.
By holding various lectures, salons and road shows, the group helps entrepreneurs connect with investors and members to share their ideas and experience.
"But startup is not for everyone," Qian said. "You should get fully prepared for hardships and have a clear vision as to what you want to be before you make a decision."
liazhu@chinadailyusa.com
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