Wu Shenjun, a partner of Jinshajiang Venture Capital, is very proud. His 8-year "tracking" of Professor Jiang Fengyi from the New Materials Research Laboratory of Nanchang University has finally led to the success of Jingneng Optoelectronics, which has become an indisputable fact. During an interview with our reporter at the Jinshajiang Venture Capital Headquarters of Tsinghua Science and Technology Park, Wu Yanjun's identity at Jingneng Optoelectronics has changed from being a previous investor to being the chairman.

As he savored the coffee beverage, he told reporters about the considerable market of Crystal Energy Optoelectronics: "There will be a market of over 10 billion US dollars per year, which is very widely used and will have a rapid growth momentum in the next 10 years

At the end of 2005, Jiang Fengyi's research achievements achieved technological breakthroughs, and this disruptive technology bypassed the barriers and blockades of several major international technology camps. The advantage of this technology is that it can promote semiconductor lighting, save 80% to 90% of electricity, reduce costs, and improve reliability. At the same time, this technology has also opened up new horizons for other research, such as using the combination and integration of optoelectronic devices to make CPUs, lasers, LEDs, etc.

Faced with this revolutionary technology that has both cost advantages and a technological platform, Wu Yanjun is certainly willing to take risks. At the same time, the sincerity of the Jinsha River in the early stage has also moved Nanchang University and the Jiangxi Provincial Government, and the industrialization of this achievement has become a common aspiration of the three.

So, Wu Yanjun began to take action. Firstly, assist in applying for patents for this technology to the United States and the European Union, including hiring the best lawyers in Silicon Valley. By the end of this year, 100 patent applications (10 of which are core) will be completed. However, this is only the first step, "said Wu Yanjun. Next, there is a greater need for technology, management, capital, and other legs to walk on. Wu Yanjun proposed that "reasonable technology transfer fees should be given to Nanchang University, along with some dividends based on production capacity." In this way, both short-term and long-term benefits are considered, which can be described as a scientific model and management.

It is precisely because of this reasonable "structure" that Jingneng Optoelectronics has completed a financing of $50 million in less than a year since its establishment on February 1, 2007. Among the investors are Temasek Holdings, which generally does not invest in risky enterprises. The size of the company has also grown from around ten people to a team of over 600 people.

We have also imported advanced equipment from foreign countries and introduced an international management team, including hiring Liu Youhai, the former CEO of Shanghai Advanced Semiconductor Company, as the general manager. Recently, we have brought back two Chinese scientists with similar technology to Jiang from the United States.

To give scientists enough enthusiasm and give enterprises enough vitality, "Wu Yanjun said." The industrialization of scientific research achievements needs to have three points: first, enterprises as carriers; second, to motivate scientists; and third, to attract management personnel

It is understood that the entrepreneurial teams of Jingneng Optoelectronics have received relatively reasonable returns. Jiang personally holds a large stake, and as for the technology transfer fee, it is also the highest in the history of Nanchang University. However, Wu Yanjun refused to disclose the specific amount to reporters.

As a venture capitalist, Wu Yanjun cannot ignore risks. Firstly, there are technical risks. As this is a new technology or material, can it emit light? What is the brightness? Is there reliability? Firstly, it is worth discussing. Even if all of the above can be met, can mass production be possible, is there a cost advantage, and can customers accept it? This is even more challenging. Secondly, there are risks in organizing teams and enterprises. Jiangxi itself is not an economically developed province, and how to recruit a high-tech enterprise team there Hiring people, how to retain them, and how to attract good managers and scientists has become a headache Wu Yanjun said. However, Wu Yanjun is not worried about the former. We are confident because we are relatively proficient and able to evaluate scientifically. It is understood that Jinshajiang has six senior consultants, all of whom are industry leaders, so Jinshajiang can grasp the arteries of industry development.

As for the latter, Wu Yanjun more summarized it as "government support, leaders' foresight". Wu Yanjun said, "The government provides many preferential policies in building factories and recruiting employees. If they have a slight problem, it will take a lot of time, but the government does not

Wu Yanjun repeatedly mentioned Meng Jianzhu, the former Secretary of the Jiangxi Provincial Party Committee. The Jiangxi Provincial Government strongly supports scientists' entrepreneurship. At the end of 2007, the government offered condolences during the Spring Festival, and the first person Secretary Meng visited was Teacher Jiang Fengyi. This incident deeply touched Wu Yanjun. Now, the goal proposed by Wu Yanjun for himself and his team is to do it in a formal manner, not in a trivial way, and in accordance with international standards. And precisely because it is formal, it has also dispelled many doubts of Nanchang University.