Kai-Fu Lee: The largest mobile internet business opportunities

Li Kaifu, chairman and chief executive of Innovation factory, said in an interview with our correspondent that mobile Internet is the immediate and biggest opportunity, and that 75% of the energy in the Innovation Workshop is on the mobile internet.

Lee said he was "single-handedly commander" when he left Google, but the next day he found three partners and set up innovative workshops. Innovative workshops serve as incubators and coaches. At present, many venture capitalists and early investors have started to bet on young Chinese entrepreneurs.

Lee said that from last September to this January, no entrepreneur joined the entrepreneurial workshop, but more and more projects later. Over the past year, innovation workshops have received 100,000 resumes and have already negotiated with more than 500 start-ups and have provided more than million dollars in funding to 12 projects.

Last year, innovation workshops have raised money from Lenovo and Foxconn, and even Silicon Valley banks and MediaTek, China's Taiwan, are shareholders. However, he said it was not easy to disclose the specific amount of financing. Kai-Fu Lee stressed that some companies if the size is big enough may advance into the Nasdaq market.

E-commerce opportunities are not many

As a suggestion to young entrepreneurs, Kai-Fu Lee's most promising investment areas are: wireless Internet, E-commerce and cloud computing. While the mobile internet is an entrepreneur's top priority, although e-commerce in the last and the year before the rise, now the opportunity is not much, cloud computing is the future.

In the case of mobile internet, Lee said that China has a large number of Internet users, can learn from the successful experience of the United States, such as the management of phone book software, mobile phone to modify the picture of software, bulk SMS software, these paid applications have produced great commercial value.

China's current smart-phone prices and internet tariffs are expensive, so there are huge market opportunities. The most important thing now is the need to quickly promote the thousand-dollar smartphone, the thousand-dollar mobile phone is the most critical is to be as useful as the iphone.

For the field of electronic commerce, he believes that China's e-commerce market is from perceptual to rational, in the past consumers only want cheap and fast to hand, today's e-commerce needs to be online under the resource integration, future E-commerce will also be integrated with social and mobile phones.

And for cloud computing, he thinks it will lead to lower developer costs and no need to buy servers. Cloud computing can also make it easier for users to buy software on instalments, rather than one-time payments in the past. Finally, he said, entrepreneurs clearly established their own business model, the first is to build a relatively large user base, the scale up, and make money is the way.