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College Students Go Into Hi-tech Business
High-technology companies started by college students are faring quite differently in their foray into the business world, according to China's Daily.
The report said that Fanso, an Internet company started by students of the Beijing-based Qinghua University, is growing rapidly. It launched a website on Chinese literature recently. Another Qinghua-based student company, Syntech Cooperation Ltd. which develops projection TV systems, is also doing well after receiving 3.7 million U.S. dollars venture capital from a Chinese company.
Yet, Yahu Networks is not enjoying the same success as the other student companies. Started by Wang Rucong, a computer whiz from Sichuan University in southwest China, the company is suffering from a serious lack of capital.
"We simply couldn't find venture capital investors interested in Internet industry," Wang said.
After local media reported Yahu's financial problems, several investors contacted Wang, but no deal has been reached so far. The different fates of the student businesses might be contributed to the location of the businesses and the policies adopted by their respective universities, the report said.
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