Kai-fu Lee innovative workshop program announcedmorning, Google has just resigned as vice president of global, Greater China office Dr. Kai-fu Lee, president held a press conference in Beijing, announced founder of \u0026 ldquo; \u0026 rdquo ;. Innovation Works Kai-fu Lee's Innovation Works, refers to a comprehensive business platform, is designed to help Chinese youth to succeed in business, to nurture a new generation of high-tech enterprises and innovative talents. Kai-fu Lee will lead a group of entrepreneurs and Dr. engineers, and create the most market value and commercial potential of the project, R \u0026 D and marketing operations. Kai-fu Lee speech transcript (September 7, 2009) at the press conference to thank you very much for attending today's conference. We certainly have heard last week I leave a message. Many say the Internet, and today I want to share what was told. In addition, more importantly, it is a detailed description of my next direction. In 2009, the first 20 years of my professional career managers. From Apple, SGI to Microsoft and Google, I walked down to a 20-year career in professional managers. But in the past six months, my heart there is always a sense of urgency, a sound mind often tell myself: is the beginning of a new chapter in the life time career. After much thought, I decided the creation of innovative workshops in Beijing. Everyone is asking me, why? In fact, I used the 20-year career, has had three career change, but change is a pursuit of the heart, a professional coordinates, that is: do my best to change everything can change. In the past 10 years, I approached China, close to the Chinese youth's dream become increasingly clear. At the same time, I also want to use the most manageable way to promote technological innovation. It can be said, \u0026 ldquo; Innovation \u0026 rdquo;, \u0026 ldquo; China \u0026 rdquo;, \u0026 ldquo; youth \u0026 rdquo; is deeply touched my theme. So, today's change appears to be a turning point, but it is actually a natural continuation of a jump in heritage. In April this year, I signed four years with Google contract expires. April 20, CEO Eric Schmidt and my immediate boss Alan Eustace thing about my contract talks. Headquarters for the past four years, Google China's achievements deep satisfaction. To the steady development of business, the company naturally hope that the Chinese leadership is highly stable. But for me, the company is healthy and steady development, mission accomplished, this is a perfect time. So I very frankly told them, I might not be renewed. My answer nature contrary to their expectations. But they wanted me to go back and think about it. I originally planned by the end of June to the headquarters officially resigned, and personally thank Eric and Alan for me over the years the support and care. But on June 18, one thing upset my plans: Google China encountered a challenge, that is, we have to understand the \u0026 ldquo; Jurisprudence \u0026 rdquo; case. Although I have a personal schedule, but I also sensible: never leave the company faced such a big crisis. I also firmly believe that I can lead the company to meet the challenges. Then, as quickly as we filter the search results in the related links. At the same time, maximize communication with relevant government departments. In mid-July at the time and ministerial leaders meet leaders unanimously endorsed: Google China in combating serious attitude vulgar content, and very effective, by the government's tests. In mid-July, Google China back on the track of steady development. After getting this good news, I non-stop with the team made a new branding program to the headquarters, along the lines of: the company's products has been leading the industry, everything is ready, we must make great efforts in the promotion and spend big effort. The critical report was approved and after running, I decided to revisit personal plans. In early August, I was again to the headquarters and Eric, Alan and Best Quality Nike Air Force 1 Mens All Black Shoes other executives plan to leave my interviews. Previously, they have been given an exception condition to retain me, at the same time, they see me super strength in June when the crisis, and worked hard to promote the new program design, I thought I would accept to renew the invitation. But I said to them: I am very grateful to the company arranged for me. But I think I've made up my mind, Google China has now developed into a stable stage, but there is a shortcoming of my life did not realize, I want to make up for it. I might go to China to start a workshop to help innovative youth entrepreneurship, and Chinese young people together to create new technological marvel, I would like to use their own initiative to make a control of the overall work, I think, I have reached this stage of life, then do not do I really afraid of too late. This is my choice from the heart. I got their sincere wishes. Today, I am still grateful to Google so I learned a lot, gave me such a good opportunity, I love the soil, the founder of such a vibrant, creative companies. I am also very reluctant to these employees. I for the past four years, the company leaders for me grateful, grateful. But the new Call of Duty, so I made a new choice, I have to continue to move forward. My business plan was a friend of the United States, Mr. Harper, founder and chairman Peter Liu (Peter Liu) support. He was in charge of the Harper Group is the originator of Chinese venture capital. Although the overall economy is still not out of the shadows, but he readily invested five million dollars, as an innovative workshop start-up capital. Over the past few weeks, in addition to Mr. Liu Yuhuan, we also received Liu, investment Gou, Mr Yu, Steve Chen and other industry elite to ensure that our 800 million yuan to build innovative workshops in the next five years with plans. At the same time, I am also very honored to get support of the Beijing municipal government and the Zhongguancun Administrative Committee. Today, Vice Mayor Gou Zhongwen can visit the site, be positive and encouraging to me. Now, I want to share with you my new career \u0026 mdash; \u0026 mdash; innovation workshops this new model. Currently, in China, entrepreneurs usually face many challenges, such as lack of entrepreneurial and management experience, the lack of initial start-up capital, it is difficult to attract outstanding technical talent, many factors make entrepreneurship actual success rate is not high. The Silicon Valley this cradle of entrepreneurs has been formed in investment from angel to complete, streamlined system late venture capital. A good idea even in the proof of concept stage are supported $ 10 to $ 500,000 angel funds. The angel investor is often successful entrepreneurs or former company executives, has deep industry experience and background, in addition to the funding can bring their vision to innovative companies and industry relations, import professionals and management experience, after risk Angel investment will follow later in the project. In 2008, the United States, angel investors accounted 40-50% overall dish venture capital, a total of more than 260,000 active angel investors and organizations. However, in China, although since 2000 the rapid development of venture capital, angel investment community but is not yet ripe, angel investment area is still a large gap. Venture could not find enough good later in the project, the entrepreneur could not find enough early support. Like the US, a large group of angel investors in China are not able to overnight, innovative workshop birth is to fill this gap, bringing large-scale industrialization of the angel investment, with a complete and mature system, the selection of the most outstanding creative, entrepreneurs, engineers, to every entrepreneur optimal integration links and resources to help entrepreneurs, to ensure the healthy development of their early. We want to create the most market value and commercial potential of the project, to develop and market operations. As the project matures to a certain extent, natural peeling parent company into an independent subsidiary, until the last listed or be acquired. I hope to establish \u0026 ldquo; angel investment + Air Jordan 14 innovation Construction \u0026 rdquo; such a new venture capital model. Innovation workshop will be based on the information industry, the most popular areas: the Internet, mobile Internet and cloud computing, selecting the relevant technology as entrepreneurial start. The main expected innovation workshops divided into three parts: from the perspective of personnel training, we hope to see more and more of our young people realize their dreams with the help of a miracle; from the company's business operations point of view, I hope every year can hatch out of 3 -5 mature companies see them grow day by day; from an investor's point of view, we hope in a few years it will have a better return to investors. I believe that my technical background, my past 20 years of professional managers career accumulated experience and industry relationships influence my talents in the industry, the international vision and communication skills can help entrepreneurs build great teams, team building culture, enhance leadership, improve the success rate of entrepreneurship. This is also our intention to create innovative workshops. After their departure, I give potential investors have done several reports on business model innovation workshops. I think I was lucky, just a month to complete such a large financing, access to the industry so many celebrities for their support. Of course, in this regard suggests that investors trust in me, but more importantly, reflects their innovation workshops this business model is promising, it is confident. Such recognition, for me and innovation workshop is a great encouragement. When it comes to innovation workshops, I think, I have too many want to share. Today, time is limited, I will introduce here. Today, I want to take this opportunity to thank you especially for me over the years sustained attention, support and help. When I was faced with a major crisis, you often get sincere support and encouragement. Sometimes, faced with rumors on the Internet, because of you these professional, honest presence of the media, let me feel warm, feel the future is promising. I hope you will continue to focus on me and my work. Our friendship is forever. Of you must have seen, the information I have special gift bag collector's edition book, 'the world because I am different \u0026 ndash; Kai-fu Lee autobiography.' The book records the real me 20 years practitioners mentality, my faith, my expectations for the future. This book will be in mid-September public offering in mainland China. Today in advance to give everyone a sneak preview, also to express my thanks to everyone a special! Thank you! Kai-fu Lee Innovation Works Chairman and CEO of News Backgrounder: Innovation Works \u0026 mdash; \u0026 mdash; let the angel investment to economies of scale, \u0026 ldquo; Finance \u0026 rdquo; + \u0026 ldquo; only \u0026 rdquo; \u0026 ndash; open up China venture a new model investment in September 2009, \u0026 ldquo ; Innovation Works \u0026 rdquo; became a hot word Chinese industry and the investment community. \u0026 Ldquo; Innovation Works \u0026 rdquo; in fact, a company held senior executive at Microsoft, Google 博士 Kai-fu Lee recently founded, with their own definition is \u0026 ldquo; a comprehensive business platform, designed to foster innovative talents and a new generation of high-tech business. \u0026 Rdquo; At first glance, it is nothing more than a new case of a venture capital firm only, but \u0026 ldquo; Innovation Works \u0026 rdquo; become hot words of one of the important reasons, Dr. Kai-fu Lee for the first time in China, the angel investment pattern to a height scale and industrialization of a new realm. Angel investors (Angel Investment) originated in 19th century America, usually a one-time upfront investment freedom investors or informal venture capital to the original project or a small start-ups, they and institutional venture together constitute the United States Venture Capital Industry. Since 2000, China's rapid development of venture capital, but the vast majority of investment companies prefer short, frequent, fast project, and therefore more mature large-scale projects (such as the company closer to the market) financing relatively easy. But the risk factor is relatively high, but also need to support the full range of start-up companies, more difficult to get support. In fact, entrepreneurs in Silicon Valley this cradle, has been formed from angel to invest in a complete, streamlined system late venture capital. Therefore, regardless of innovative enterprises in the seed, introduction, or growth, maturity, as long as there is the potential access to appropriate assistance. If the entrepreneur is only a good idea, he could find about $ 50,000, to focus on investment in start-up capital or angel investors angel clubs help; if he had an early version of the product and start the team, he may from Angels Club or angel investors receive 10-50 million dollars in seed money; if companies start commercial operation and have an official client, it may be from the early and mid obtain venture capital funds raised $ 2 million to 5 million or so; then the next step is advanced risky investments. The current market capitalization reached $ 145 billion of Google (Google), for example, 11 years ago, when Sergey Brin and Larry Page just a business idea, the company has not yet set up, it has been an angel investor Andy Bechtolsheim provided $ 100,000 check. Outside the financial investment system, in Silicon Valley, some investors returned to the different stages of the founding companies provide added value. The early angel investors tend to be successful entrepreneurs or Air Jordan 11 former big company executives, industry veterans, they tend to give the founders bring experience, judgment, industry relationships and subsequent investors. Venture investment will also help to lead into the more formal operational and management structure in venture growth, high value-added, or even to help companies with 2015 Latest Nike Shoes the necessary follow-up development of a professional team. Enterprise development stage to market or acquisitions, venture capital will provide the appropriate assistance. Therefore, start-up companies at different stages of their investment, as people like to run the relay, by tradition, culture, make a concept take root, sprout, blossom and grow. Mike Markkula (Mike Markkula) is an angel horses. Apple inception, Markkula invested $ 92,000 not only their own, but also to raise $ 690,000, plus the $ 250,000 he secured loans from banks obtained a total $ 1,000,000. In 1977, Apple founder, Markkula equality as a partner, officially joined Apple, and served as vice chairman, Steve Jobs as chairman. Markkula more recommended Michael \u0026 middot; Scott as Apple's first CEO. Markkula as chairman at Apple until 1997 to leave. With its relatively complete innovation system, many people in Silicon Valley are also very willing to work in founding companies. Different types of people, according to their skills, preferences, risk-taking as expected, can participate in the different stages of entrepreneurial enterprises. Has focused on creating enterprise serial entrepreneurs, but also like the business development from dozens to hundreds of people working in the process of management and technical personnel, but also good at the company to expand from a few hundred to a larger management . Start-up companies at different stages, it is easy to match to different types of people, or even replace the management. We can say that angel investment is the early American entrepreneurship and innovation main pillars. In the United States, the current angel investment can account for 40-50% of venture capital overall dish. University of New Hampshire under the Entrepreneurship Research Center report shows that in 2008, the United States there are over 260,000 active angel investors, in addition to Beyond this, there are several angel investment organization. They provided a total of $ 19.2 billion of investments 55 480 start-ups. According to the statistical report of PricewaterhouseCoopers, in 2008, the late Original Nike Force 1 Mens Gray Pink Shoes American Venture Capital has invested more than 280 billion US dollars funded 3,700 investment projects. We can say that if there is no angel investment, venture capital late will not make bricks without straw. Chinese investment community have had such a vivid metaphor: venture capital is to look at a dish, this dish is good to pay to win, not just do not. And mature angel investors say, this dish is good, but missing two peppers with two tofu. Who this dish with it? Angel to go with. Angel would say, this dish is good, but the chef is not good, we are looking for a chef, or chef is good, food is not like that, we'll burn a fire. In contrast, although the risk of investment has been done fast in China, but the figure was only a handful of angel investors. Qing dynasties, according to data provided by the Group, due to the promising Chinese market, the risk of large-scale investment into China in the first half of 2008, in the latter part of the venture capital funds raised a total of $ 49.302 billion, an increase of 190% over the same period in 2007, there are 348 companies obtained in late venture, a total investment of 7.383 billion US dollars, up 50% over the same period in 2007 can be at the same time, angel investment is hard to find figure. From 2006 data, the size of the domestic angel investment between only about one hundred million yuan -10 500 million. No wonder in 2008 of a venture capital conference, Chinese venture capital community assert that domestic angel investors in order to truly reach a certain size, estimated to take at least a decade. Industry sources said the situation with the United States corresponds to that in China, as angel investors have not yet formed an industrial chain. Innovation Works was born precisely to fill this gap. Venture Capital, Innovation Works is more compared to traditional \u0026 ldquo; \u0026 rdquo ;. hands Innovation Works will recruit engineers, entrepreneurs began to build multiple elite team, by Dr. Kai-fu Lee's leadership, to create the most market value and commercial potential of the project, sub-teams of different projects R \u0026 D and market operations, until the project is mature peel as an independent subsidiary of the parent, and eventually listed or be acquired. Innovation workshop head, Dr. Kai-fu Lee expressed the hope that through innovation workshops this new model in China to help build \u0026 lsquo; Choi \u0026 rsquo; + \u0026 lsquo; it \u0026 rsquo; new venture mode \u0026 ldquo ;. 20 years in the venture capital community, known as \u0026 ldquo; Asian Venture Capital Godfather \u0026 rdquo; the Peter Liu (Peter Liu), said: \u0026 ldquo; innovative workshops led by Kai-Fu in China the model of angel investors to highly scalable, industry New Stage. I always thought that it should play the role of venture capital firms coach, mentor, out of pure financial investor role as a more active technical facilitator; because the meaning of venture capital not only is the pursuit of new investment cases, the introduction of advanced countries technology and capital, so the localization industry can upgrade and thrive. \u0026 Rdquo; the current risk of investment in the Chinese market, more just playing the role of financial investors, not too much involved in investment operations. Innovation Works is characterized in help entrepreneurs and investors to create wealth, but also for the whole industry found that gathering, training a large number of technical and management personnel. The so-called \u0026 lsquo; workplace \u0026 rsquo ;, which means it has the ability to efficiently clone the scale and industrialization of the best ideas to market most effectively. Liu Chuanzhi, president of Legend Holdings Ltd., said: \u0026 ldquo; 先生 Kai-fu Lee was in China, Google, Microsoft have done leadership, both leadership experience, but also a strong sense of innovation. He came with a new model innovation workshops this work is an innovation in itself, worthy of our support and encouragement. \u0026 Rdquo; and Kai-fu Lee accurate grasp of cutting-edge technology and rich management experience, deep industry relationships to industry professionals tremendous charisma, international vision and strong communication skills, it is innovative workshops get including Liu, Gou, Investor Michael Yu, Steve Chen, and many other chiefs class people of all ages, including the reasons. Just a half months, innovation workshop on the establishment of the next five years to invest 800 million yuan in the blueprint. Peter Liu said: \u0026 ldquo; from the 1960s and 1970s to the present, creating a venture capital from Silicon Valley to the Asian tigers, then today many mainland companies. Harper has been the investment philosophy is: choose will guide the development of new generation technology start-ups in the future. Innovation Works undoubtedly belong to such companies. Innovation Works in China I saw a \u0026 lsquo; Finance \u0026 rsquo; + Top Design Nike Air Force 1 Unisex Blue White Shoes \u0026 lsquo; it \u0026 rsquo; the risk of a new mode of investment, but also a high degree of angel investment + new model of large-scale investment risk innovative products. I believe, will succeed Kai-fu practice of the Chinese venture capital firms, angel investors in particular, companies can learn from the model in the future. I believe that this model can inspire developing mechanisms throughout China venture capital industry, talent training mechanism, or even affect the entire technology companies and innovative growth model in China. \u0026 Rdquo; Appendix: PhD curriculum vitae of Dr. Kai-fu Lee Kai-fu Lee in September 2009 in Beijing, China was founded Innovation Works, chairman and chief executive officer, to help Chinese youth to succeed in business, to help China build a number of new generation of high-tech companies. Innovative workshops based on the Internet, mobile Internet and cloud computing, try 20 new ideas every year, and split out 3-5 independent operating companies. Before the start, from 2005--2009, he served as vice president and president of Greater China, global company at Google. Google in China four years, Dr Lee in Greater China established elite team of about 700 people, the Google China's market share in China of 16.1 percent from 2006 to 2009 has increased 31.0% Dr. Kai-fu Lee led the Chinese team We have been focused on product development, the Chinese Google search and other Chinese products to achieve industry-leading level. Meanwhile, Google Maps, Google Mobile Maps, Google mobile search, Google became the highest Chinese translation software usage in 2009. Prior to joining Google, from 2000--2005 Dr. Kai-fu Lee to any Microsoft global vice president, responsible for aspects of .Net development work in the server software, Windows, Office which have Dr. Lee team developed technology. Before promoted vice president of worldwide, Dr. Lee founded Microsoft Research China in 1998 (later renamed the Microsoft Research Asia), in a very short period of time created a world-class computer Institute, had been 'MIT Technology Review 'named \u0026 ldquo; the hottest computer lab \u0026 rdquo ;. From 1996-1998, Dr. Lee served as vice president at SGI and general manager of the Internet division, is responsible for several product lines and the company's development direction of Internet strategy. In the SGI, Dr Lee led the team developed a turnover of $ 200 million a year of the Internet server business. He also served as president of Cosmo Software, responsible for multi-platform, 3D graphics and multimedia Internet software development work. Dr. Lee in 1990 \u0026 ndash; 1996 years Apple service. He served six years in the last position in Apple's vice president of interactive multimedia department, the team laid the Apple lead in multi-media, and the development of QuickTime, QuickDraw 3D, QuickTime VR, PlainTalk other products. Prior to joining Apple, Kai-fu Lee has taught at Carnegie Mellon University for two years. In 1988 he received a doctorate in computer science from Carnegie Mellon University. His doctoral thesis was the world's first \u0026 ldquo; non-specific continuous speech recognition system \u0026 rdquo ;. 1988, 'Business Week' grant the system \u0026 ldquo; the most important scientific innovation award \u0026 rdquo ;. In school, Kai-fu Lee also developed \u0026 ldquo; Othello \u0026 rdquo; (Othello) man-machine chess system, because in 1988 defeated the human world champion notoriously. Dr. Li Zeng Yi highest honors from Columbia University with a bachelor's degree in computer. Kai-fu Lee is a Fellow of the American Institute of Electrical and Electronics Engineers, and the American vice president of the Chinese elite organization Hundred will. In addition to achievements in science and technology, Dr. Lee is very concerned about China's growing Air Jordan 7 young students. He has written seven letters addressed to the Chinese students, publication of 'do your best', 'Partnering with the Future,' 'network Wife' and three best-selling books, and each year dozens of lectures in colleges and universities do. He do \u0026 ldquo; I school network \u0026 rdquo; now has 50 million registered users, as well as 50 experts to join him on the Internet to help Chinese young students.