Mingtao Electronics: China's youngest Entrepreneurs

May 24, 2012 - PRLog -- Born and raised in Xi'an, one of the oldest cities in China, 18-year-old Fangming Lu feels a strong connection with Chinese culture. His family and friends rarely see the other side, though, of his personality: he loves electronics and the internet, and sees it as his future career path. Fangming knew he was going to start it off someday in the area, but he didn't know the day came so soon.

In 2009, Fangming got into Xi'an University of Electronics, Science and Technology, to study microelectronics. As a freshman, he did lots of readings and intensive research in his field of studies and try to keep open for all possible opportunities. His best friend, Jerry Yue, who moved to the States during middle school and got into Stanford later on has always been his inspirations. Jerry called Lu one day from Stanford and told him about his entrepreneurial experience at Palo Alto. This call really excited Fangming and he decided to do something.  In China, getting into a good college and keeping a healthy GPA is what parents see as first priority for life. Getting a part time job would be considered a waste of time, let alone starting a business. Fangming has his own compass of life and didn't care about all that pressure. He soon started planning on things and getting advice from his friend Jerry. Jerry Yue is a young and experienced  entrepreneur and got founded for his internet business at the age of 16. Later that year, with Jerry's help and inspiration, Lu did something his parents would kill him for: he dropped out of school and started Mingtao Electronics, which sells all kinds of electronic devices to students. He has three other partners, also students from the school. The only difference being, they are doing it part time.

Though Lu was under great pressure, he was so excited that he is already on the path that might leads to his dream at such an early age. First Lu hired salesman trying to sell their products in schools. But later he realized it is way too expensive and inefficient and found a better source of labor: students. They know their way around on campus.  After two years of operation and expanding using the cheap student labor, Mingtao Electronics became quite profitable: with tens of thousands of RMB net profit per day. Fangming's team in 2011 grew into 8 different sales forces around the area with a strong management team. In 2012 he joined his friend Jerry's new Chinese branch of the company LittlePassport. Starting off a new journey in the field of internet. LittlePassport China branch just recently closed third round investment with a valuation of USD$50 million. Fangming believes in new technologies that are shaping people's lives and believes that LittlePassport can contribute a lot in the next 5 years. "I'm glad I'm in a new team that is building our own product and dream every day. I used to sell stuff, but that was not cool even though the economic profit was pretty appealing. Working for LittlePassport is cool, working for your own dream is cool." as Fanging put it during the interview. Fangming is currently serving as the director of LittlePassport Xi'an office and trustee of LP China branch. As we called Jerry, he believes that value Fangming added to his Chinese team.
From Lu, we see  the hope of next generation China entrepreneurs.