Chinese open-source large language model DeepSeek, culturally rich game Black Myth: Wukong and film Ne Zha 2 have attracted global attention. They are not only at the forefront in terms of technological finesse but are also emerging as representatives of China in reshaping the global innovation landscape.

The founders of these enterprises are mostly young people, which is not surprising. After all, Bill Gates founded Microsoft when he was just 20, and Steve Jobs was 21 when he founded Apple. Their companies eventually rose to become leaders in their respective fields.

When the internet arrived in China in the 1990s, and prospered in the 2000s and early 2010s, it also sparked a trend of entrepreneurship among young people. For instance, Tencent and then Byte-Dance, Meituan, Pinduoduo were founded by young people, inspiring more young people to start their own businesses. However, unlike in Silicon Valley in the United States, domestic young entrepreneurs have mainly focused on business model innovation, such as how to enhance payment convenience and how to better communicate between buyers and sellers.

Today, science and technology innovation companies represented by DeepSeek show that young entrepreneurs in China are transforming themselves — rather than just focusing on business model innovation for quick profits, they are focusing on technological innovation.

Another obvious characteristic is that these companies are looking at long-term rather than short-term interests. Production of Black Myth: Wukong and Ne Zha 2 took more than five years. DeepSeek has chosen the open-source model to pursue technological innovation.

These young entrepreneurs are breaking away from the tradition of just conducting application innovation in the local market. They are also positioning themselves as participants in global competition. Young entrepreneurs in China are promoting the dual narrative of "technological breakthrough and cultural awakening" on the global stage.

All this enhances the need for China to establish a more complete innovation ecosystem support system. For example, venture capital needs to be more patient and adventurous, industrial policy support should move away from the mindset of attracting investment, cultivate more small and medium-sized technology enterprises, and provide space and opportunities for more young people to innovate and start businesses.

21ST CENTURY BUSINESS HERALD