“We’re looking to make a big splash in the office”
New York Times article “It’s a lot easier to start a business in the United States than in China, where you have to go through more bureaucracy,” said Dan Waddell, a venture capitalist at Kleiner Perkins Caufield & Byers who is helping to finance the business.
“The culture here is more supportive of entrepreneurship.”
Mr. Waddll said he believes China’s new regulatory environment will also allow for a surge in venture capital.
“We can start a company, we can invest, and the whole system can support that,” he said.
In China, for example, it’s often not possible to get a patent or a patent filing approval for a new product unless the company is already successful.
And even if the company makes money, a patent application can take months to get approved.
“When it comes to a patent, there’s a good chance it’s not going to be approved in a timely manner,” Mr. Liao said.
“And that’s the kind of situation that we’re looking for.”
That’s a major reason why some venture capitalists are starting to move their companies abroad.
In December, China announced that it would open up the country’s patent market to foreign companies, opening up its domestic patent market.
That will allow China’s tech companies to get more patent applications from other countries and allow them to quickly seek patents in China.
“For a long time, the Chinese government has been trying to regulate intellectual property rights, but this is the first step to really opening up the Chinese market,” said Mr. Wang, the venture capitalist.
“It means a lot to Chinese tech companies, and a lot of companies are looking to move to China to get their product to market faster.”