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Kai-Fu Lee and his Innovation Works are betting it does, and are funding a number of serial entrepreneurs.
FORBES: Serial Entrepreneurs Set Up Shop in China
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Following a scathing report on New Oriental Education, the crisis came to a head last autumn when prominent Chinese business leader Kai-Fu Lee fought back.
FORBES: Short-Seller Attacks Highlight Chinese Companies Social Media Shortcomings
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Even Kai-Fu Lee, the China superstar who defected to Google and sparked a lawsuit from his former employers at Microsoft, shares a cubicle with two other guys.
FORBES: Magazine Article
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Watch the video interiview with Kai-Fu Lee and Startup Asia author Rebecca Fannin, taped at the recent Silicon Dragon program held at the China Club in Hong Kong.
FORBES: Kai-Fu Lee Talks Steve Jobs, China Angels, Next Gen Tech
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This is one reason why Kai-Fu Lee is ramping up Innovation Works now to motivate young entrepreneurs to get in and have a head start before the game is over.
FORBES: Hanging out with VCs at Tsinghua
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Kai-fu Lee is a betrayer of both Microsoft and Google, if you google search on how he suddenly abandoned Microsoft to go to Google and he did it again later to Google.
FORBES: China Job Hunter TV Show Takes Mean Spiritedness To New Level
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"What we hoped to accomplish with Google China is now being realized by Weibo, " proving that "engagement is the right approach, " said former Google China chief Kai-Fu Lee, who left the company in 2009.
WSJ: Google Renews Push in China