Too many entrepreneurs in domestic incubators are not enough.

A shocking fact is that the number of incubators that have blossomed in recent times may have caught up with the number of entrepreneurs. This is an industry that everyone is vying for, but it faces the risk of becoming a bubble with great enthusiasm.
Because there is not enough financial support, the income in individual incubators can't even offset the cost, let alone the so-called profit. The “basement” in Shenzhen Nanshan was transferred by the founder, and it was created in just 4 months. The library burned more than 1 million; at the same time, they did not bring many benefits to entrepreneurs as promised, more like commercial real estate developers, providing entrepreneurs with only office space and limited resources.
There are even reports that in Chengdu, Sichuan Province, the capital of entrepreneurship, there is a business incubator to provide free office for the scorpion and "in the name of registered company, decoration, office deposit" and other names to defraud entrepreneurs, the amount involved is huge, deceived A large number. According to reports, the victims include students from Southwest Jiaotong University, Xihua University, and Jincheng College.
Looking at the United States, Paul Graham, the father of Silicon Valley Ventures, founded the start-up incubator Y Combinator (YC), rewriting the old order between entrepreneurs and Silicon Valley investors, and creating a new model for venture capital. The famous Dropbox, Airbnb and other companies are the masterpieces of YC. According to media reports, the total value of companies incubated by YC has exceeded $8 billion, and the average value of each company is more than $45 million.
In the eyes of Chinese incubators, YC is like a benchmark. "Becoming a Chinese version of YC" is their slogan. It is their goal to breed a unicorn like Airbnb.
The facts are not as good as imagined. With the increasing number and variety of incubators in China, some incubators began to show defects, homogenization, differences in operator capabilities, and difficulties in profitability were exposed one by one, becoming a hurdle for some incubators. So people began to examine whether we need so many incubators.

Bubble: Great Leap Forward Expansion
The speed of development of incubators and crowd-creating spaces is catching up with the growth rate of entrepreneurs.
In the famous Zhongguancun Venture Street in Beijing, there are dozens of business incubators such as 3W coffee, garage coffee, angels, entrepreneurs, and space. Dinghao, Hailong and other Zhongguancun electronic stores have also turned to business incubators. Office building. According to statistics, Zhongguancun Venture Street incubates 1.6 start-ups every day. In addition, various types of incubators or mass creation space support policies have been introduced by various local governments, and incubators have blossomed everywhere in China.
As early as 2014, the state had plans for the construction of incubators. According to the planning at the time, by 2015, the number of incubators in China will reach 1,500, the incubation site will reach more than 50 million square meters, the total incubation fund will be more than 5 billion yuan, and more than 100,000 incubating enterprises, including 500 state-level incubators. .
The actual data is much higher than this. According to incomplete statistics, in 2015, there were more than 4,000 new types of startup incubators in China, and before 2015, the total number of incubators in 28 years was less than 1,600. (Tencent Technology Note: China's earliest startup incubator was established in the 1980s, the Wuhan East Lake New Technology Entrepreneurship Center, which was born in 1987.)
In Guangzhou, there were 11 incubators in 2003 and 526 incubators; in 2011, the number of incubators reached 43 and 3,881 in incubating enterprises, an increase of 32 in eight years. By 2014, the number of incubators in Guangzhou reached 85, and 5,344 in incubators, an increase of 41 in three years. Among them, there are 16 state-level incubators, 8 provincial incubators, and 21 municipal incubators.
The business of thousands of incubators in the market is similar, and even the growth of entrepreneurs is not as fast as the growth rate of incubators, so the incubators are competing for free. Some entrepreneurs regard the free space of each incubator as the maximum benefit. Today, the incubator is free for 3 months, and tomorrow, another incubator is free for 3 months.
Located in the basement of Danao SOHO in Zhongguancun, the 3Q SOHO is the O2O shared office product launched by SOHO China. Tencent Technology visited and found that the office in a large open room near the door is empty, and it can accommodate 50 people if it is full. An employee working upstairs told Tencent Technology that it was still full of people there years ago. After several startups left, the work station was empty.
However, in the view of Wang Xiao, founder of Jiuhe Venture Capital, the key issue is not the number of incubators. He told Tencent that there is no excess of incubators from the current situation, and new projects are emerging one after another. The key question is whether these incubators can really match the needs of startups.

桎梏: The phenomenon of homogenization is serious
People in the entrepreneurial industry know that the process of incubation is far more complicated than imagined and requires a lot of energy and time. This requires high resources and capabilities for the incubator team.
Going back to reality, many incubators provide the same services, mostly free or low-cost venues, business agents, project roadshows, financing counseling, and mentor services.
The velvet security, which focuses on the security software field, has been in existence for more than four years. Its founding team has been in a private house near the North Fifth Ring. Just last year, the former vice president of the car home, Ma Gang, announced his resignation and joined the velvet team. . When asked why he did not consider entering the incubator, Ma Gang told Tencent Technology that in addition to providing office space, the incubator has limited help to the entrepreneurial team and has never considered it.
It is not Ma Gang who holds this kind of thinking. Mr. Fan used to be an entrepreneur of the 3W incubator, from which he would get some free resources, including office space, investment and financing services, knowledge training, etc., in addition to some media exposure. "But actually the company's growth still depends on itself." Mr. Fan said to Tencent Technology.
The industry believes that the real incubator needs to go deep into every enterprise, truly graft resources, funds and services for the enterprise, witness and help the growth of the enterprise, instead of playing the role of “two landlords”, engaging in the lease business space to collect the entrepreneurial process. Simple services such as administrative service fees.
In addition, the incubator's office environment has been criticized. A former Weifang employee told Tencent Technology that many early-stage startups need to spend a lot of energy on technology and product operations, while employees who undertake technical work often need a quieter environment and open office. The environment makes them feel a lot of headaches.
“For the early team of 3 to 5 people, the open office environment has little impact on them. Once the team size increases, it is not suitable for staying in the incubator.” But the reality is that the incubator station is not Cheap, from eight to nine hundred, and more than a thousand dollars, the small team can not afford, and ultimately led to the team of dozens of people. And the liquidity is also relatively large, many teams will choose to leave after three or four months.

Pathfinder: How to make a profit
There are a lot of flowers on the surface, but in fact some incubators are not good, and an incubator avoids the issue of Tencent’s profitability.
At present, the common profit models include four types: long-term and short-term leases for office space; value-added service charges for using conference rooms and IT repair services; premium service charges for media and IT; membership membership and related fees. However, these profit models lack stability due to various conditions.
Wang Xiao was a member of the founding team of Baidu Seven Musketeers. When he left Baidu, he thought about setting up an incubator. However, after a period of observation, he found that it was not easy: first, the operating cost was difficult to recover, and secondly, the management startup company It takes a lot of effort. "Sometimes it will fall into a dilemma. Start-up companies often don't have much money. It's not realistic to make a profit from them. If you take equity, you have to wait a long time to become cash, and this becomes an investment institution."
In addition, compared to incubation, investment clearly requires more resources and qualifications, as well as understanding and anticipation of the industry. For most incubators, it is not easy to achieve this because of the lack of experience and talent. In addition, in the absence of good investment projects or investment failures, the incubator will face a loss.
Of course, not all incubators face the above-mentioned survival dilemmas. From the perspective of classification, China's more mature incubators mainly include the following four types of representative business models:
The first type is enterprise platform type, such as incubators under Internet companies such as Tencent, Baidu, and Microsoft. Such incubators often have strong financial strength and market resources;
The second type is “angel + hatching”. This type of incubator is more similar to the YC model. It is dominated by private capital or educational institutions. After the project is settled, it will invest in angels in some enterprises and make profits through subsequent exits;
The third type is open space, which provides low-cost office space, regularly organizes salons or lectures, and does not directly invest;
The fourth type is vertical industrial type. Generally, such incubators are more professional, and targeted incubation for a certain product is mainly led by the government or industry association.
Wang Xiao said that the independent incubator is very difficult to survive. The current Microsoft accelerator, the 36Kr space, and the Tencent space are all supported by a large system (company or government). With a large number of incubators, it is not so easy to win high-quality startups, and the more specialized incubators will be more competitive. At the same time, with the bursting of the entrepreneurial bubble, the incubator that grew up in a state of rapid success and instantness is also time to return to rationality.

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