[photopress:higgins.jpg,full,alignright]Bob Higgins, is founder and managing general partner of Highland Capital Partners, an American capital firm, and a senior lecturer at the Harvard Business School.
In an interview with William J. Holstein, editor in chief of Directorship magazine, published in the New York Times, Bob Higgins said, ‘I just came back from a trip to China and saw an enormous number of companies and venture capitalists. The change in the past five years in China is overwhelming. In the world of early-stage companies, an enormous amount is happening.
‘One of the things I noticed was how young the entrepreneurs are and how few of them have any mentorship. The reason is that there is no mentorship class. The people who would be the board members in their 50’s and 60’s lived through the Cultural Revolution. They were not starting up companies. They were sent down to the countryside to work on communes.
‘What’s really driving venture capital are the returnees, the Chinese who came over here and were educated. They’re going back and then they’re working with local Chinese in starting companies. They’re bringing knowledge of American and European practices and also have financial relationships with either venture capitalists or investment banks.’
Source: New York Times