Business leaders share new trends and business opportunities during a session at the Cheung Kong Graduate School of Business (CKGSB) in Shanghai on March 1. [Photo/chinadaily.com.cn]
Chinese entrepreneurs are eyeing new trends and actively pursuing business opportunities in sectors such as the low-altitude economy, artificial intelligence, new energy and overseas market expansion, a group of young business leaders shared during a session at the Cheung Kong Graduate School of Business (CKGSB) in Shanghai on March 1.
The low-altitude economy has become a buzzword in recent years. Jiang Jun, co-founder and chief marketing officer of TCab Tech, a Shanghai-based company specializing in electric vertical take-off and landing (eVTOL) aircraft development, is one of the entrepreneurs driving this shift.
Founded in May 2021, TCab Tech aims to bring Urban Air Mobility (UAM) to reality, offering the public reliable, affordable and time-efficient air mobility solutions such as air-taxis. With its independently developed E20 eVTOL aircraft, the company is rapidly progressing towards commercial operations.
"We have been through many hardships before the booming of the low-altitude economy. Back in 2020, about 99.9 percent of investors were not aware of this sector and even regarded us as 'fraud'. However, mankind has never stopped imaging the sky, and we are now standing at the starting point to change the future of mobility," said Jiang.
China's eVTOL market is expected to formally enter commercialization by 2026, with a market value projected to exceed 500 billion yuan ($68.69 billion) by 2035. The number of eVTOL aircraft in operation is expected to reach 50,000 by that time, with a growth rate of over 40 percent from 2026 to 2035, according to a report by market research provider LeadLeo Research Institute.
In the same session, Li Yifan shared his stories on catching a new trend with their smart, high-quality electric bikes. Aiming to encourage the adventurous spirit and provide cleaner and greener transportation solutions, Li as the founder and chief operating officer, launched the Heybike brand in 2021 and has made it among the top three in terms of market share in North America.
"For us, Heybike is not just a business project for us, but more about doing something meaningful. We hope to bring our Chinese innovation and wisdom to the world, and make more users experience the value of our products and their inner pleasure," he said.
In addition to the mobility sector, the advancement and development of artificial intelligence and new energy has also empowered many young entrepreneurs in China. Li Yiwu, a post-95s founder and chief executive officer of Treloop, is integrating AI with online trading platforms and social media communities to facilitate the trading of secondhand goods. The firm raked in nearly 10 million yuan in transaction over 100 days, and nearly 60 percent of its users are post-00s. While in the traditional manufacturing sector, Ma Pengcheng, a post-90s second-generation factory owner, is riding the wave of new energy demands and transforming his family-owned textile factory into a leading provider of aluminum products.
Gathering at the Cheung Kong Graduate School of Business, these young entrepreneurs are looking to different bold goals while sharing similar passion and confidence on the future prospects.
"A true entrepreneur should be as fluid as water and as free as the wind, looking for opportunities in uncertainty and creating value in change. It must be the path for us to discover a wider world and explore more possibilities," said Li Yifan.
