On January 11, 2019, the 2nd Session of Innovative Community Activity was held in Qingdao Oceantec Valley with a theme of “From Start-up to Growth: Seeking the Path Forward for Sci-tech Enterprises”. This phase of innovative community was hosted by QDII and supported by Qingdao Oceantec Valley. It is the second session of innovative community activity organized after the collective training of SRI Silicon Valley Innovation Training Camp. QDII is honored to invite Mr. Xu Qiwei, Vice President of Cisco, to exchange his ideas with the start-up teams on enterprise operation and management. His presence attracted a host of entrepreneurs.

Over 60 people from Qingdao Oceantec Valley and even Qingdao attended this innovative community activity. In the activity, QDII shared with the audience about its value orientation, the SRI Silicon Valley Innovation Training Camp and the innovative community. The innovative community is an open-ended event of QDII, which connects all resources including entrepreneurs, top experts in the profession, successful entrepreneurs, experts on capital, law, finance and taxation, providing entrepreneurs with a full range of services. On top of that, QDII will hold the French Innovation Technology Promotion Conference on January 23, which is an event of the series activity of Qingdao Oceantec Valley Cross-border Technology Transfer. Investment institutions and industrial institutions from Qingdao and China are sincerely welcomed.

Mr. Xu Qiwei told the success story of the first step taken by Cisco:

1.Products: Can the product be users’ first or second choice in the market? It is critically important whether the proposed project would be a USD 1 billion business as it determines if the business grows bigger and stronger.

2. Innovation: Cisco blazed a trail forward through independent R&D, mergers and acquisitions.

3. Listen to customers’ requests and evaluate customers’ satisfaction from the perspective of benefits. These have also become the staff assessment elements of Cisco.

4. Innovative Flow: supply chain, financial affairs and review

5. The top-class sales statistic system counts weekly the linear indicators and forecasts monthly and quarterly sales.

6. Human Resource (HR): Employ the first 10% of the staff in the industry

7.Establish an equity incentive mechanism.

Moreover, Mr. Xu Qiwei proposed advice on required competencies of the entrepreneurs: ability, character, knowledge and psychological strength.

Sustainable value is to be powered by relentless innovation.