Liu Chuanzhi: The Inflection Point of Enterprise Innovation Has Arrived

Nowadays, every Chinese enterprise must confront future uncertainties. A review of international politics reveals similar uncertainties, such as Brexit and the dramatic shifts in the U.S. presidential election. For nations and peoples, economic strength is paramount; it is manifested through corporate prowess, which in turn hinges on innovative capacity. Innovation and entrepreneurship are no longer mere slogans but an essential path to national strength and public prosperity.

AssociationHoldingChairman: Liu Chuanzhi

Over the past two millennia of Chinese history, apart from the cyclical rise and fall of dynasties, there was virtually no innovation or creativity. It was only in the last two to three hundred years, with the emergence of technological inventions such as the steam engine and the electric light bulb, that China’s development was indirectly propelled, leading to reforms in domestic and international political systems and shifts in the global landscape.

The microcomputer, born 40 years ago, provided a significant impetus to the informatization of major industries worldwide. The development of both the internet and mobile internet is closely tied to the creations and innovations of that era. This is the power of innovation.

The development of the mobile internet has only just begun. With advancements in artificial intelligence, bioengineering, and other hardware technologies, new innovations are increasingly integrating with the internet, promising a future with vast potential. As entrepreneurs, we currently stand at a historical inflection point. For over 2,000 years prior, the trajectory of development was nearly flat; it was not until 200 years ago that an inflection point for innovation emerged, ushering in the current period of rapid ascent. In such times, entrepreneurs must carefully consider broader environmental shifts, including changes in the global political landscape and the political-business climate. These macro-level changes also encompass technological innovations within industries, business model innovations, and the emergence of competitors. Crucially, the focus should not merely be on the changes themselves, but on how entrepreneurs make decisions in response to them—a critical question that leaders of both large and small enterprises must thoughtfully address.

In 2008, Legend Holdings joined forces with the Chinese Academy of Sciences (CAS) to establish Legend Star, with the aim of commercializing CAS’s scientific and technological achievements, unlocking the potential of outstanding researchers, and enabling them to become entrepreneurs. With the support of CAS leadership, Legend Star launched a free training and incubation program for entrepreneurs. Through this initiative, Legend Star identified a widespread demand among tech entrepreneurs in society for such support, while also aligning the incubation program with national development needs.

A few years later, the State Council introduced the slogan “Mass Entrepreneurship and Innovation.” With strong support from the Chinese Academy of Sciences and local governments—particularly the Haidian District Government of Zhongguancun in Beijing—and continuous increases in investment and resource allocation by Legend Holdings, Legend Star has grown larger, improved steadily, and gained increasing momentum.

Lenovo was founded in 1984. According to Liu Chuanzhi, entrepreneurs of that era were “crossing the river by feeling the stones,” lacking the experience and guidance of predecessors. In contrast, entrepreneurs in the new era benefit from institutional support, mentorship, angel investment, and access to resources. However, theory alone is insufficient; entrepreneurs must gain hands-on experience through trial and error before coming together to listen to insights shared by senior scholars, mentors, and successful entrepreneurs. Crucially, entrepreneurs need to gather as a community, engaging in repeated deliberation, exchange, and communication.

The Three Key Significances of Entrepreneurial Interaction:

First, interaction can foster mutual encouragement. As everyone has encountered numerous difficulties in the process of entrepreneurship, mutual encouragement is crucial;

Second, entrepreneurs can serve as mirrors for one another. By reflecting on their own situations through their peers and the experiences shared by speakers, they can gauge their current stage and position in the entrepreneurial cycle based on the successes or failures of others.

Third, entrepreneurs can provide resources to one another, including capital, human resources, and other aspects across the upstream, midstream, and downstream sectors.

At the Legend Star WILL Conference, several senior leaders were in attendance. Holding key positions and bearing significant responsibilities, they took time out of their busy schedules to participate with the aim of gaining firsthand insight into entrepreneurs’ perspectives and the challenges they face, so as to provide timely and effective assistance. Liu Chuanzhi stated that Legend Holdings had received a phone call from the General Office of the State Council the previous day. During the conversation, it was noted that although the Premier was on the front lines of flood control, the State Council continues to place high priority on and offer strong support for innovation and entrepreneurship, as well as for the initiative of “mass entrepreneurship and innovation.” The State Council expressed its hope that Legend Holdings would convey this directive to the members of the Legend Star community.

With expectations,Legend Star hopes to stand side by side with entrepreneurs across the board, contributing to the development and prosperity of China’s entrepreneurship and innovation ecosystem.