LZMH Selected for the "Potential Unicorn Companies" List in 2019
On November 4, 2019, at the 7th China Jiangsu Production-University-Research Cooperation Conference, the Sunan National Independent Innovation Demonstration Zone Construction Promotion Service Center announced the evaluation results of unicorn and gazelle companies in the Sunan National Independent Innovation Demonstration Zone for 2019. LZMH was selected as a potential unicorn company in the demonstration zone.
A potential unicorn company is a legally registered enterprise within the actual management scope of a provincial-level or above high-tech zone with no bad credit records. Furthermore, within 5 years of its establishment, its valuation is no less than 0.5 billion USD (or 300 million RMB), and it has attributes such as rapid development and rarity, and can rise to become a company that leads industrial change. A unicorn company not only needs a strong technical foundation, but also needs to occupy an important position in the market, have a forward-looking operation strategy, be a benchmark for the industry, and represent change and innovation.
Founded in 2014, LZMH completed its Series A financing in 2018 with a valuation of 100 million USD. It is a leading company in the domestic smart community industry, positioning itself as a community family life service platform enterprise. By rapidly deploying its IoT smart access control screens, it enters valuable communities and serves family groups and taps into the value of community users through precise access control advertising, community service O2O, smart city construction, and family life e-commerce, creating the first community life ecological layout in China. Its "IoT smart access control terminal" now serves tens of millions of people nationwide, with hundreds of millions of advertising releases, and controls more than 100,000 terminal screens in major first- and second-tier cities.
In April 2018, the headquarters of LZMH was located in Wuxi High-tech Zone. At the same time, the Wuxi LZMH Blockchain Application Lab was established, which was one of the first companies in Wuxi to engage in blockchain research. In terms of advertising, LZMH is committed to improving the efficiency of offline advertising traceability and monitoring through blockchain technology and improving the authenticity of advertising data. In the future, under the wave of 5G, LZMH hopes to combine blockchain technology with IoT terminals to empower the lives of community residents.
At present, the most innovative and potential unicorn and gazelle companies are receiving increasing attention. Many local governments have officially issued policies to accelerate the cultivation of unicorn and gazelle companies. By building a hierarchical and classified enterprise support system, they have implemented many support measures that break through existing policies to address the urgent problems in the development of unicorn and gazelle companies, focusing on cultivating a number of innovative enterprises with disruptive innovation, explosive growth, outstanding competitive advantages, and large future output value, accelerating their growth into unicorn companies, and driving the transformation, upgrading, and innovative development of the park.
In addition, whether a startup company can become a unicorn mainly depends on whether it can achieve technological innovation and model innovation. LZMH attaches great importance to the innovation, stability, and applicability of technology, and its R&D investment has increased by 30% for two consecutive years. At the same time, the company has a number of core technology intellectual property rights and software copyrights, etc., and is dedicated to research and development, with patents escorting innovation. Through patented technology, it provides customers with personalized, three-dimensional, customized, and differentiated solutions, establishes different scene applications, and truly achieves technology empowerment.
With the support of the government and investment institutions, LZMH plans to cover 80,000 communities, deploy one million devices, and serve 200 million mainstream people nationwide within 3 years. Using the irreplaceability generated by the "community entrance," it will collect data and release information, thereby creating a community interactive environment with smart hardware screens as the hub. With the number of screens as the moat, community traffic as the main resource, community service providers as the labor force, and the advertising platform as the profit closed loop, it will complete the first community life ecological layout in China.
In the future, LZMH will continue to play a leading role as a quasi-unicorn in the industry, pay close attention to market dynamics, continue to invest in technology, combine the core technological competitiveness of the future such as the Internet of Things and blockchain, and define the "future community."