Culture

clipped from www.forbes.com When will the familiar label "Made in China" switch to something more challenging: "Invented in China"? Not for another decade at least, according to investors and technology entrepreneurs who gathered recently at an event in Beijing to discuss the topic. (For video of the event, click here.) Sure, some things are already being invented in China. Internet whizzes have pushed advances in mobile gaming and instant messaging. But many obstacles prevent a full-scale leap into widespread inventing. One hurdle is culture. Entrepreneurs in China are still afraid of failure, noted Feng Deng of Northern Light Venture Capital. A failed startup in Silicon Valley is practically a badge of honor. In addition, entrepreneurs in China may be good at coding software, but they make for lousy managers. That often keeps their businesses from scaling.