The value-added service should be the core of venture capital (VC) investment, said Wang Qiwen, a partner of Shenzhen Stone Venture Capital Investment Management Co, at Friday's forum on the development of China's venture capital investment for start-ups.

The forum was part of a series of high-level forums of the China Hi-Tech Fair, which was attended by about 500 representatives including venture capitalists, accountants, lawyers and innovative start-up companies.

"There is plenty of capital in China, so what start-up companies lack is value-added service and continuous management service," said Wang.

Value-added service included management consultation, human resource support and enterprise management.

"Competition among venture capital investment intuitions is competition of added-value services. The value of an investment institution lies in its added-value service," said Wang.

He was echoed by Sun Ming-gao, president of Shenzhen Tiancheng Investment Co Ltd, who shared his experience of providing added-value service.

"The advantage of added-value a company provides is much higher than the money it gives," said Sun.

His company provided added-value according to two modes. One was based on the life cycle of the market, which meant different services at different stages of a start-up.

Sun's company provides different services to different linos of a start-up's main business chain.

These services could cover research and development, business education, staff training and professional consultation, he said.

Xie Xuan, manager of Hunan-based Xiangtou Hi-Tech Venture, said a venture capital investment institution could not last long without added-value, although many investment bodies had made money only by investing money for a short time.

"That would be a flash in the pan," said Xie.