(Ecns.cn)--The rapid growth of China's economy has attracted Chinese talent studying or working aboard to return home in droves to give full play to their abilities and ambitions by starting their own businesses. Unfortunately, many of their efforts ended up in failure.
Two of the exceptions are Wang Boqing, founder of China's leading labor consulting firm MyCOS, and Liu Jinbai, founder of Dalian Newland Software Company, both of whom chose a "slow-paced entrepreneurial model."
"The Tsinghua Science Park has been providing incubation services for businesses like these for over a decade; during this period, I have seen many unsuccessful cases," said Chen Hongbo, vice head of the Tsinghua University TusPark Research Institute for Innovation.
Timing is everything
Wang always mocks himself as the oldest entrepreneur in China's information industry, since he was already 52 years old when he returned here to start MyCOS (My China Occupational Skills) in 2006.
However, Wang made his decision not out of pure impulsion and enthusiasm, but based on years of observation and research on China's higher education system and trends in the employment of college graduates.
"The idea of finding a full-time job in China flashed into my mind in 2003, when I witnessed the exodus of the batch of graduates who were admitted to colleges and universities in 1999, at the start of a frenzied expansion of those schools. They were mired in difficulties just finding a job, and at the same time a scientific approach to analyzing occupational skills and educational preparation was being put on trial," explained Wang during an interview with the Xinhua News Agency.
Realizing that the time was already ripe, Wang resolved to return to China and three years later became a professor at the Southwest University of Finance and Economics. In October of that same year, Wang started MyCOS with his first round of venture capital, an investment of tens of millions of yuan.
Though the company met challenges of a financial nature and suffered its own "brain drain," it eventually made the ranks of the top education consulting firms in China, largely due to Wang's keen business sense, careful preparation and rich experience.
A sea of qualified graduates entering a workforce offering mostly low quality jobs sums up the main problem the job market still contends with today, pointed out Wang, adding that many schools have just focused on scale expansion alone while neglecting quality improvements.
"I hope to apply the latest scientific approaches to studying the social needs and quality improvements required in the labor market, in a bid to help schools optimize their specialty structure, curriculum component balance and teaching methods," noted Wang.
