USDe will not be the next UST, but implies unique risks.

Hi, classmate, hello!

Last year at this time, Zhen Fund launched the Zhen Summer Entrepreneurship Scholarship. Our idea is simple - we believe that there are talented and innovative young people who may have the opportunity to become the next great entrepreneurs. However, due to practical considerations, they have to look for internships and jobs, and their lives are then confined to the cycle of job hunting and work. But they could have been the ones creating jobs. We hope to provide some financial support to offer another possibility during the summer, allowing these young people to temporarily postpone the worries of reality. Instead of rushing to find internships and jobs, they can find a few like-minded partners to do what they want to do, experience the joy of creation, and develop their abilities from scratch. We have received many high-quality applications from students, which makes us very happy and also puts us in a difficult position - with limited funding capacity, there are many teams we want to support. After one-on-one conversations with hundreds of students, we have initially selected six students/teams to receive the first batch of scholarships. They are all students, ranging from high school students to PhD candidates, covering disciplines such as synthetic biology, robotics, and artificial intelligence. Some projects are still being experimented in their own study rooms, while others have quickly become popular on GitHub. At the end of the text, we will provide a brief introduction to them.

A year has passed, and there have been many changes in the world. Since the “arrival day” of the tech world in the eyes of some people - November 30, 2022, new papers and products have been released at an unprecedented dazzling speed. Even researchers at the forefront of academia are facing tremendous and exciting learning pressures, not to mention entrepreneurs and investors. Unlike many past speculative bubbles, this time, in just a few months, millions of users worldwide have experienced unprecedented technological product experiences, and people suddenly realize that they are very close to the world depicted in past science fiction works. **Many people think that Computing Power and talent resources are in the hands of big companies, which is true, but we see a lot of opportunities for young people and startups. **For example, Zhang Lvmin, the winner of the first True Summer Scholarship, released ControlNet as a two-dimensional enthusiast, although he has just graduated from his undergraduate degree and started his first year of doctoral studies, he almost single-handedly shook Silicon Valley; The model Alpaca released by the Stanford team, which also attracted the attention of researchers around the world, was authored by Zhang Tianyi, who was also in his twenties and interned at Zhenge a few years ago when he was a “little genius” high school student. On the other side of the ocean, we saw that 11 companies made Midjourney, a phenomenal product with revenues of more than 100 million US dollars in just two years; Toran Richards, an obscure young man, has tinkered with AutoGPT, which everyone has been talking about lately. In the past month, we’ve sponsored and participated in the hackathon organized by Instant and Think, where we’ve seen more than 100 young teams build a crude and working AI product from scratch in two or three days. The team that participated in the hackathon and was invested by Zhen when he graduated from his undergraduate degree a few years ago made an AI assistant that quickly rose to millions of users within a few months. **The prologue has just slowly opened, and this generation of technology heroes who will eventually appear in the spotlight are probably young teenagers who are gearing up at the moment. As the temperature gradually rises, summer is just around the corner again. **We can’t wait to announce the second phase of the Zhen Summer Scholarship. This is destined to be a noisy summer full of “emergence”, I hope that at this moment you have vaguely discovered the desire of your heart, and I hope that we will not be mediocre or wasted. **

• True Fund partner Liu Yuan

Questions You May Care About

Q: What are the application requirements for the True Summer Entrepreneurship Scholarship?

A: As long as you are a current student (regardless of educational background or location), you and your team can fully immerse yourselves in your own entrepreneurial venture for 8-12 weeks and apply for the True Summer Entrepreneurship Scholarship.

Q: How much money does the Zhen Summer Entrepreneurship Scholarship provide?

A: We provide scholarships ranging from RMB 200,000 to 500,000 for each team. We hope that you will do what you are interested in, what is worth doing, and preferably only what you are capable of doing.

Q: In addition to money, what else will ZhenGe provide?

A: During these months of your startup, our investment team members will provide real-time guidance and feedback, and introduce more founders of our invested companies to you for mutual learning. After this summer ends, if you still want to continue your current career, we will also evaluate a more formal investment opportunity.

**Q: After a few months, what should I do if I don’t want to continue the current entrepreneurship? Do I need to repay the money?

A: No need. Maybe after this summer, you will find that you don’t like entrepreneurship, and that’s okay. You have a better understanding of yourself, and we are also happy to know you.

Q: What is the deadline for application?

A: The True Summer Entrepreneurship Scholarship adopts a rolling admission system, and the registration channel is continuously open. We are waiting for you at Zhenge!

If you are a young person with dreams,

Come and participate in the second summer of the True Summer Entrepreneurship Scholarship!