Several venture capitalists based in Silicon Valley attended the second phase of the Global Innovation Forum in Zhongguancun.

During the forum, they talked about the trend of "Internet plus" and how to deal with potential problems in developing start-ups.

The forum was jointly held by the Peking University Post EMBA Promotion Association, the China Association for Science and Technology, and the Zhongguancun Science Park Administrative Commission.

Venture capitalists, such as PayPal CEO Peter Thiel author of the bestseller Zero to One, LinkedIn co-founder Reid Hoffman, and Shen Nanpeng, global executive partner of Sequoia Capital, expressed their ideas on entrepreneurship in the "Internet plus" era.

They gave a keynote speech on "how to find the most valuable entrepreneurship program and team." According to him, one should try to become a big fish in a small market, but not dream of being a big fish in a big market. "You are in danger when you find that you have to defeat 99 percent of your competitors," said Thiel.

According to Shen, entrepreneurs have to adjust their start-ups' directions in accordance with the market trend. In the preliminary stages, enterprises should learn to focus on leading products and continuously completing them.

Hoffman said that the most important element to success is defining differentiation. Only when a company finds its competency and fully develops it can the company achieve success, he says.