吴世春：为什么你拿着一份漂亮BP，却很难融到资？

Core Insights - The current investment landscape emphasizes the need for startups to demonstrate certainty and viability rather than relying solely on business plans and presentations [2][3] Group 1: Investment Criteria - Startups that attract investment must align with national trends without blindly chasing fads [5][6] - Successful startups address real industry problems or significantly enhance social efficiency, such as reducing costs or replacing imports [8][9] - Investors are increasingly focused on the combination of policy benefits and sound business logic, rather than just storytelling [10] Group 2: Founder's Profile - The experience of the founder is crucial; seasoned entrepreneurs are preferred over charismatic speakers [12][13] - A strong team led by an experienced founder can achieve better outcomes than a weak team with a great idea [11] - Investors seek founders with resilience and the ability to navigate challenges, as many projects fail due to founder burnout rather than poor direction [14][15] Group 3: Validation of Business Model - Startups must demonstrate a proven business model, moving from initial stages to tangible results [16][20] - Validation includes having a functional product, customer interest, and concrete data on customer acquisition costs and profit margins [17][18][19] - The shift in investment logic now favors established business models over speculative ideas, focusing on current performance and execution capabilities [21][22] Group 4: Fund Management - The company has been managing funds for approximately 11 years, with a total fund size exceeding 100 billion [24] - Among the 600+ companies invested in, around 70-80 have reached profit levels close to A-share listing standards [25]