On September 4, 2013, Executive Associate Dean Prof. LIAO Li gave a lecture on the emerging business model of crowdfunding to new students at the multifunctional hall.

"What do the business models of Tesla Motorscrowdfunding have in common? Both of them have perfectly interpreted innovation.” Prof. Liao opened his lecture with the case of Tesla Motors, passionately introducing Elon Musk who is known as the "Steve Jobs" in the auto worldhas founded Paypal, Space Exploration TechnologiesTesla Motors. He encouraged the students to seize the opportunity of studying at PBCSF,reinterpret the significance of entrepreneurshipinnovation in the internet finance field in the future.

Then, taking Kickstarter (crowdfunding platform launched in New York in April 2009) as an example, Liao introduced the development of crowdfunding. Students were fascinated by crowdfunding-based Pebble (a smart watch which can connect to your smartphone). Liao elaborated on the origin, developmentclassification of crowdfunding, analyzed the economic incentives for crowdfunding participants using detailed data, as well as the defectsdevelopment trends of crowdfunding. He also probed into the regulatory issues of internet finance.