I am visiting some partners in Hangzhou again. For the second time, I am quite impressed by the entrepreneur spirit in Hangzhou.
Recent, the Internet center seems to be shifting a little bit out of Beijing and to cities in th south. Hangzhou starts to be a center. I visited some smaller companies and found the developers there are great, and they have great ideas for the new generation of Internet.
Hangzhou is city that make people quiet. When people goes near to the West Lake, their pace naturally slow down. Time is not so critical a matter as in Shanghai.
For the young people graduating from universities, their salary requirements are not as high as Shanghai, because for basic living, Hangzhou is much cheaper. (If we talk about luxurious apartment and visiting nice bar near the Lake, Hangzhou may be even more expensive). They have much lower pressure to survive than in Shanghai so they can concentrate more on coding and innovation.
Hangzhou, as the capital of Zhejiang, is also a capital for private owned companies. Many private investors put their money into small startups and make them easier to raise money. Although international VC and big domestic VC don’t visit Hangzhou as often as Shanghai, the investment requirement for small startups is typically smallers, which make it a perfect place for startups.
I have the impression that Hangzhou may have good potential for the next round of startups in China – something like the Bay area.
Good luck guys!