Kai-fu Lee Entrepreneurship: Angel investment + headhunting + Entrepreneurship Coach

Lee Kai-fu Entrepreneurship to remember the editor's note/passion and creativity, entrepreneurship is the most critical element. From Kai-Fu Lee left Google to start a business choice can be seen, his entrepreneurial is passionate, the business model is also highly creative.　　But what's more valuable to many entrepreneurs is that they have to do it, even if it is full of risk, otherwise there will be passion and creativity, at best, just on paper. 1990-1996 years ago in the United States Apple Computer Company (Vgcs Manager, multimedia Laboratory Director, Interactive Multimedia division, global vice President) 1996-1998 years, the United States SGI Computer Company (network products, global Vice President, Cosmo subsidiary of the President) 1998-2004-Year U.S. Microsoft (　　The president of Microsoft China Research Institute, the global vice president of Natural Interaction, July 2005 Kai-Fu Lee left Microsoft, joined Google, and as the president of Google China.　　September 2009 Kai-Fu Lee left Google, in Beijing, the creation of "Innovation workshop."　　September 7 This day's Lee is particularly excited, although the previous week he had to work nearly 20 hours a day, but this day from his face can not see a trace of fatigue, hair care more orderly than ever. In the area adjacent to Google's China office, Kai-Fu Lee rented more than 500 square meters of office, in the outside world seems to be very mysterious "Innovation Workshop" is located here, Kai-Fu Lee career second stage will also be launched here, he will also from the job to the entrepreneurial role of conversion. "I used to work for other people and now I'm starting my own business." Today no longer needs a PR manager to tell me what to say and what not to say.　　"Perhaps because of the conversion of identity, he in private chat in a rare" mouth without a secret. More than 500 square meters of office environment, more than 100 people's recruitment plan, it looks like a very small company, but to the start-up of the small companies to join the industry is the big guy: Lenovo Holdings President Liu, Hon Hai Group Chairman Terry Gou, New Oriental Group chairman Yu Yu,　　　Chen, the founder of YouTube, and Liu Yu, chairman of the US group, have all invested in "innovation workshops" to varying degrees. Angel Investment + headhunting + Entrepreneurship Coach "I don't have time to evaluate a project, take a project to find my investment, I do not accept, I only recruit the best talent." "Kai-fu Lee is not a simple investment, but Angel Investment + headhunting + entrepreneurship coach," we only accept people with ideas, or he has no idea, as long as he is a good person.　　Lee said. Kai-Fu Lee to do the first step is to recruit talent, this workshop can accommodate more than 100 people, are excellent engineers, strengths. Next, Kai-Fu Lee to do is the selection of creative and talent arrangement combination: "Their creativity and our creative combination, take out to do screening, from the inside pick out the most feasible ideas, and then the talent to do organic combination." "These 100 men may produce hundreds of thoughts,Then, after voting for 20 ideas, and then refining out of 10 projects can be done, and finally may set up 5 project companies.　　"Of course this is not a fixed number, kai-fu Lee Use this number to express, just want to tell reporters these projects will be all the wisdom of crystallization, is through a layer of screening down." Kai-Fu Lee believes that this is a decisive factor in determining success or failure. Everyone has their own characteristics, not creative people must be suitable for entrepreneurship. "I will play the role of the Go-Between." "Kai-Fu Lee believes that the entrepreneurial environment in China, the information is not smooth enough, entrepreneurs are not well-connected, these results in entrepreneurial success is not high."　　And all he has to do is mix and match these ideas and talents, make a suitable team for an idea, and then train the team to help them get the project started. This process is a bit like a company's initial investment in Angels, but the difference is that the project is not one or two people to come out, but in the Innovation workshop layer by layer screen.　　At the same time, the composition of the team is also very characteristic, not who has the idea of who to start a business, but according to the characteristics of the project to configure talent, someone suitable to be CEO, someone suitable for the CTO. According to their own experience, Kai-Fu Lee selected three key hatching direction: First, E-commerce, the second is mobile Internet, the third is cloud computing, these three areas are undoubtedly the current Internet entrepreneurship hotspot. And Kai-Fu Lee's advantage lies in experience: from Apple to Microsoft to Google, Kai-Fu Lee has experienced three of the industry's reputation for innovation in the Baptist, and E-commerce, mobile internet, cloud computing is closely related to his previous work, especially cloud computing, Google is the advocate of cloud computing, in the cloud computing technology and philosophy are very advanced.　　Obviously, the experience of Kai-Fu Lee can give the entrepreneur to help. In fact, in the current China, willing to do angel investment is still too few people, most of the venture capital are willing to vote in the latter part of the company, so both stable and simple. In China, when it comes to angel investment, people tend to think of Lei and Zhou, who are investing in angels after their own success, but the number is still scarce.　　Many High-tech entrepreneurs have technology, ideas, but never started.　　Usually the angel investors in the United States are the industry's elite, they either have a successful venture or a large company's professional managers who are able to provide great help to entrepreneurs based on the industry's knowledge, product conception, technical understanding, contacts, and information, and allow them to succeed in their later ventures. Kai-Fu Lee Value this opportunity, so do not make a simple angel investment, but a "more High-tech entrepreneurial coach", he believes that the new role can make investment success rate greatly increased. "These people are not recruited to do the company, we will train them in various links, China's talent is very lack of entrepreneurial guidance." "In the design of Kai-Fu Lee, the opportunity for Innovation workshop to succeed is higher than that of the individual, because the platform has a strong supporting force." "We provide perfectOperations support, not only legal, financial support, we will also provide rental servers, search engine optimization, and even to buy ads.　　Kai-Fu Lee to the "China Business newspaper" reporter disclosed. Difficult to replicate entrepreneurial conditions "I don't think anyone can replicate this model: who can get so much money?" Who can gain the trust of so many people? Who has such a wealth of entrepreneurial experience? Who can recruit so many talented people?　　"Kai-Fu Lee looks quite confident in his model. In fact, has been in the industry's reputation, among the influence of college students, in Microsoft and Google precipitation down the recruitment secret, will become Kai-Fu Lee's "business Card", which makes him in one months has won the investment commitment of the 9 major investment institutions, the financing amount has reached 100 million yuan, and in the next 5 years will also raise 800 million yuan,　　Continue to invest in innovative workshops. "I will not take the initiative to dig people from Google. Although our salary is one-third lower than that of Google, I will give a lot of stock. The future of my stock may be very valuable, but also may not be worth it, it depends on the values of people, to see if he would like to gamble, to take the risk.　　"This time is a start-up company, Kai-Fu Lee on the recruitment standards have made appropriate adjustments." In addition, for the choice of investors, Kai-Fu Lee in addition to their hands to get the money, but also from them to get the support of the industrial chain and to the subsidiary to find the future "buyers." "We want to get a great company and hopefully they will be able to form strategic partnerships with their companies, or give us some pointers and help, in addition to funding." "It takes about six to 3-4 months to become a project, and it takes 9-10 months from the project into a subsidiary, which is the next stage-financing, listing." "This stage is not my good at, take to the VC assessment, they think how much money to vote good, we follow the vote on the line."　　Kai-Fu Lee is also very clear about his business priorities.　　Kai-Fu Lee said that the company hatched from the innovation workshop has two different whereabouts: first, after several rounds of financing and then listed; On the direction of mergers and acquisitions, in the heart of Kai-Fu Lee has a lot of choices: one is to be selected by the shareholders of Innovation factory, innovative factory shareholders are also very interested in the direction of new technology, if with their own industry can be combined just can buy.　　Hon Hai's chairman, Terry Gou, said in an interview with the China Business newspaper that if Lee's hatched companies were in line with their company's direction, they would consider acquisitions. Second, by other large companies to buy. It is reported that the United States, the most famous mergers and acquisitions have been closely linked with, "They want to buy what kind of company, we create a sell to him on the line."　　"Kai-fu Lee with talent and capital advantage is full of confidence." Third, many foreign-funded internet companies into China are hoping to acquire the form of local Internet companies to enter, and Kai-Fu Lee's entrepreneurial direction is to spread around the internet.　　This may be one of the reasons why YouTube founder Chen is investing in Lee. It seems that Kai-Fu Lee's innovative workshop has the entrepreneurialAll the unique conditions, but there are people in the industry are not optimistic about this model: "It is difficult to make angel investment in China, mainly without environment and atmosphere." In addition, many contacts and relationships may be less valuable in the face of real interests.　　Ran, chief executive of Ecapital Capital, said, "Kai-Fu Lee has been successful, but also to venture out, the passion is admirable", but he also believes that if the leader of the process can also establish a business model to be better. Although full of passion, but Kai-Fu Lee also admitted that there may be risks: "Even if our company is not successful, but we cultivate 50 people each year, 10 years down can also cultivate 500 independent entrepreneurial talent, even if only to do a headhunting company, will have a reasonable return." "Investors say" good money "+" only "mode of the United States Liu Yu Group Chairman of the company: I met early, but I gave the investment is not because of his friendship. Lenovo is investing in its own investment, why is Liu willing to vote for the money? We can see where the future industrial growth is.　　Cloud computing is a key area, and the industry is very well understood, and his "Innovation workshop" model is very new. Although China's venture capital development is rapid, but lack of relatively mature entrepreneurial environment, entrepreneurial actual success rate is not high.　　In recent years, the global flow of funds into China, but the lack of entrepreneurial experience, the lack of initial start-up funds, difficult to attract outstanding technical management personnel and many other factors have not improved, and the "Innovation Workshop" is at the same time, just fill in the blanks. Innovation Factory is a ' wealth ' + ' only ' as the symbol of high-scale, industrialized venture capital New model, will select the best entrepreneurial concept, entrepreneurs, engineers, every entrepreneurial link to optimize the matching, and then provide funds, guidance and back-up, from this level, innovation Workshop will become the best integration of entrepreneurial resources.　　I believe this model can inspire the whole Chinese venture capital industry research and development mechanism, talent training mechanism, and even affect the whole technology companies in China's innovative growth model. Third Eye Internet veteran observer Hongliang: "Innovation Workshop" model may exist the risk is: A company's operation can not only rely on innovative models, funds, research and development, management, sales and other links, there is a link problem, it may be full of wrong.　　The advantage of Kai-Fu Lee is a number of multinational companies in the management experience, but if the management of a number of localized start-up companies, I am afraid also need to complete from professional managers to the entrepreneurial boss of the role of conversion.　　What is an innovation workshop? "Innovation Workshop is a new combination of angel investment and innovative products." We are a company, do our own innovative products, but to do a phase, will open a company for this product, and then find other venture capital, together to invest in the new company. Therefore, Innovation Workshop products are more High-tech products. --kai-Fu Lee