Sequoia China on August 15 announced the establishment of a new startup accelerator program called YUÈ, which provides exclusive systematic entrepreneurship courses and resources for Chinese entrepreneurs from angel-round to A-round financing.
YUÈ is positioned as “the first lesson for Chinese entrepreneurs.” As an accelerator for cultivating entrepreneurs who started their own business at an early stage, this project hopes to help systematically cultivate their basic entrepreneurial abilities and business awareness in this stage with the highest failure rate, thus improving the success rate of early entrepreneurship.
The project has been led by Neil Shen, the Founding and Managing Partner of Sequoia China, and joined by the company’s partners. They gave lectures intensively and invited partners from Sequoia’s other divisions to bring rich insights into the global market. It also provided the practical experience-sharing of many CEOs with a market value of over $10 billion.
Regarding the reasons for setting up YUÈ, the company said that the domestic entrepreneurship ecology lacked systematic training on basic knowledge and abilities for entrepreneurs in angel-round and A-round financing. In the past half century, Sequoia has accompanied thousands of entrepreneurs, experienced many economic cycles, encountering countless success and failure cases, so it has learned many experience and lessons. By setting up this project, Sequoia will invest more time and resources in early investment, which considered not only to have commercial value, but more social value as well.
Its series of courses will consist of eight modules, along two main lines. One is enterprise development, including four major themes: ideas, products, commercialization and expansion. The other is founder growth, including recruitment, financing and culture building. There will be a mysterious “module X” in each issue, which will provide a series of targeted guidance according to students’ common needs.
This accelerator has three major characteristics: Sequoia’s exclusive systematic courses; a rich and unique international vision; and all-round resources services.
Successfully graduated students will have the opportunity to obtain Sequoia investment of $1 million, or 6.756 million yuan. In addition, students will directly receive all-round services provided by the company for member enterprises, including human capital, business and technology empowerment, brand market, IT and digitalization, financial risk control.