Victoria Yao, the co-founder of Chinese outdoor training start-up Outingman, makes a pitch before investors at a Beijing teahouse run by Jianyihui, a community for private equity firms and angel investors, on December 14, 2017. Photo: Sarah Dai

Unicorn fever seizes China as start-ups and investors seek the next big thing

It takes an average of four years for a start-up in China to reach unicorn status – or US$1 billion in valuation – but competition is severe for the hundreds of companies, founders and financiers who are seeking the next big thing

Topic |   Start-ups

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Victoria Yao, the co-founder of Chinese outdoor training start-up Outingman, makes a pitch before investors at a Beijing teahouse run by Jianyihui, a community for private equity firms and angel investors, on December 14, 2017. Photo: Sarah Dai
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