**Abstract:**
The first China Innovation and Entrepreneurship Competition, which concluded over four months ago in 2012, has sparked a lot of interest regarding its impact on enterprises. What kind of innovations did the participants bring to the table? How have their companies evolved since then? To explore these questions, we had the opportunity to speak with Mr. Chen Jifeng, the winner of the "2012 Second China Innovation and Entrepreneurship Enterprise Group."
**The First China Innovation and Entrepreneurship Competition Has Far-Reaching Impact**
Mr. Chen Jifeng shared his perspective on the competition, highlighting that the system innovation was one of its most remarkable features. The event featured online registration, nationwide district elections, on-site reviews by industry experts and venture capital investors, and even live broadcasts on CCTV Economic Channel during the finals. This level of transparency and fairness made the competition highly credible and inspiring for many entrepreneurs.
The event also attracted high-level participation from officials, scholars, and business leaders, including Wan Gang, Vice Chairman of the Chinese People's Political Consultative Conference. The broadcast of the competition generated significant public attention and positive feedback, encouraging more companies and individuals to pursue innovation and entrepreneurship. It is expected to play a key role in driving economic transformation and promoting the vision of a smart China.
For Wald, participating in the competition not only brought home the grand prize but also boosted employee enthusiasm for technological innovation. It significantly enhanced the company’s image and the popularity of the "Walde" brand. After the awards show, several venture capital firms expressed interest in collaborating with us, and dealers showed increased confidence in partnering with Walde. The number of inquiries via phone and email became overwhelming, showing the real impact of the competition on our business.
**Innovation Is the Engine of Wald’s Continued Rapid Development**
As the leader of a national high-tech enterprise, Mr. Chen Jifeng emphasized that innovation has always been at the core of Wald’s operations. Even during tough times, the company prioritized R&D and new equipment investments. The annual "Innovation of the Year" initiative has motivated employees to continuously improve and innovate. He believes that innovation is the soul of the company and the driving force behind its sustained growth.
**a) Continuous Technological Innovation**
Wald has achieved several breakthroughs in recent years, particularly in diamond cutter wheels, superhard tools, and glass tools. Some of the key developments include:
1. The improved high-permeability diamond cutter wheel.
2. The successful development of the high-precision one-piece tool holder.
3. The creation of the high-precision cam glass cutter seat.
4. The introduction of the high-permeability glass knife using micro-tooth processing technology.
5. The breakthrough in PVD nano-coated CNC PCBN blades and mini PCBN blades.
6. The development of the enhanced stone carving knife.
**b) Marketing Model Innovation**
To further strengthen its market presence, Wald has implemented several innovative marketing strategies:
1. **Sales System Reengineering**: Collaborating with Shengjing.com, a leading management consulting firm, to revamp the sales and management systems.
2. **Brand Marketing Strategy**: Partnering with major platforms like CCTV Network, China Glass Network, and Alibaba to expand both domestic and international reach.
3. **Online Trading Platform**: Launching an official store on Tmall in July 2012. Online sales grew rapidly, from just a few hundred yuan per month to tens of thousands per day, showing strong potential. Wald is now planning to build its own e-commerce platform.
**Competing for the Peak of the Industry, Creating a World-Famous Brand**
Thanks to continuous innovation and effective marketing strategies, Wald saw impressive growth in the first quarter of 2013, with order volumes increasing by over 80% compared to the same period last year. Foreign orders doubled, demonstrating the global appeal of the brand.
Looking ahead, Mr. Chen Jifeng remains confident about Wald’s future. The company aims to embrace the spirit of innovation, strive for industry leadership, and build a world-renowned brand. With this vision, Wald is set to achieve remarkable growth and contribute new chapters to China's industrial development.
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