Kai-Fu Lee left the entrepreneurial business big guy

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Former Google global Vice-President Kai-Fu Lee announced the creation of "Innovation Workshop" financing 800 million yuan

September 7, just left the global vice president of Google, Greater China President Kai-Fu Lee in Beijing Science and Technology building announced his career planning. He will start a venture capital firm called Innovation Workshop, and in the next 5 years, innovation workshops will invest 800 million yuan to help entrepreneurs get on the right track.

Lee will be the chairman and CEO of the company. It is understood that innovation Workshop investment lead is the China Economic and Technology Group, Mr. Gou led by Foxconn Group, Liu (Liu News, Liu said) led by Lenovo Holdings, Mr Yu led the new Oriental group, YouTube founder Chen Shijun. Yesterday, Foxconn Group chairman Terry Gou at the scene expressed his support for Kai-Fu Lee's business.

Lee said he had completed all the fundraising work within 4 weeks, and the new company would start recruiting soon.

Innovation workshops do not accept investment projects

It is understood that the product of innovation Factory is to hatch one after another project, the annual innovation workshop will be from hundreds of ideas and thoughts selected 20 projects focus on training. In the process, the Innovation Workshop provides financial, human, managerial and even advertising assistance, and when the idea is passed, the innovation Workshop will set up a new subsidiary in 5 months ' time. It is understood that innovation workshops will help these companies find venture capital, and even help them to go public in the future, and in the process to seek return.

Lee said the model is Angel investment plus innovative products, scale to help dozens of companies. But innovation workshops do not accept investment projects, only accept people and ideas to the innovation Workshop.

"We will select the best entrepreneurs in the application, including engineers, product managers, user experience design, etc." Be a great candidate and find the most suitable project and person. Lee said.

Kai-Fu Lee that this is an angel investment + headhunting + hatching mode. He says there may be 100 dreams a year, but through innovation workshops can transform 100 dreams into 20 ideas, then 10 become projects and 5 become companies. The innovation Workshop will provide funds, experience and servers.

Kai-Fu Lee's plan is to launch 3 to 5 companies a year, and innovation workshops will help companies operate, acquire shares and ultimately profit. He thought that every idea into a project, about 3-4 months to become a company project, will be invited to the OECD, IDG and other companies to invest, the final merger or listing.

The new company focuses on three areas

Talking about choosing the field as a starting point for their career, Kai-Fu Lee said that for entrepreneurs, angel investors play the role of entrepreneurial coach, according to industry knowledge, contacts, information to help entrepreneurs. In the United States there are 260,000 active angel investors, and China's angel investors are not even 2,600, so he chose this area to start a business.

Kai-Fu Lee said that the innovation workshop will focus on 3 areas: the Internet industry, especially e-commerce areas, not necessarily to do operations, but more focus on technological innovation. Mobile internet and cloud computing are also good opportunities. It is understood that the company has begun to recruit preparation work.