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There is a startup model with a very high success rate.
Overseas, mainly in the United States, mastering a certain technology and then starting a business back home.
The government can provide funding support and other financing methods, and it can lead to very large enterprises.
The industry usually refers to this as the "Overseas Returnee Entrepreneurship Model" or "Technology Transfer Model," which essentially leverages the technological gap between China and the U.S. plus China's unique policy dividends and market size to achieve arbitrage.
Baidu, Sohu, Zhongji Xuchuang, Changxin Storage, and others are all examples of this model.
Essentially, this is a dual arbitrage of technology and market, accumulating capabilities in the world's most advanced technological environment, then monetizing in markets with the greatest demand, least competition, and most favorable policies.
This window still exists in semiconductor, biopharmaceutical, and robotics fields; as long as the technological gap between China and the U.S. persists, this model will not disappear.