Lee Kai-Fu is founder of Innovation Works,an incubator concentrating on start-up firms in the mobile internet and cloud computing spheres.About 800 million Chinese use cell phones-the largest market for the devices in the world.There are few profitable mobile phone companies in China yet,Mr.Lee points out;everybody is just starting out.He thinks that's the perfect time for his group to get involved.
Mr.Lee,49,is the former head of GoogleChina,having left before Google's recent squabble with the Chinese authorities.He feels there are plenty of opportunities in China,and few restrictions.There are probably certain areas that his group chooses not to get into,but those are only a small percentage.
Mr.Lee speaks perfect English,having studied and taught computer science in America.He saw that there were few options for Chinese companies to secure venture capital.Through his efforts,115 billion dollars has been raised to assist the new firms.
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