Entrepreneurs looking to build successful start-ups should strive to solve problems in society, which will in turn create value and result in monetisation, according to Alibaba Group Holding executive vice-chairman Joseph Tsai.
“Most start-up companies start with a technology or an idea … [and then] search for a problem to solve,” said Tsai, who gave welcoming remarks at Jumpstarter on Thursday, a start-up event organised by the Alibaba Entrepreneurs Fund. “It’s actually exactly the opposite of how you build a long-term, long-lasting sustainable company.”