You may read more and more comments on Innovation Works. I really respect the dream of Kaifu Lee. No matter what Innovation Works can achieve in the end, I think people should know it’s IW which wanted to lead the Innovation in China; I also understand why people question about it. But every new stuff has a learning curve, and everyone can give a different definition about Innovation which could be re-defined as micro-innovation, or localization or imitation-to-innovation, etc.
The fact is that Innovation Works as the flag of the Chinese innovative startup space, has managed to raise more money from a few big names including HTC, Tencent, DST and so on. It’s a good thing for Innovation Works and the startups it inclubates, of course. But as a guy who knows nothing about financial stuff, I really don’t understand why not these guys just spend the money on copying the Innovation Works, given the fact that we love to copy the western models. Since you have the money, enough resource and are able to attract great mentors, and you are interested in local startups which there are many out there to be reached, why not just set up your own Y-Combinator?
One Innovation Works is definitely not enough to build up a healthy ecosystem in China, and we need more support and awareness to those incubators such as TiSiWi, Chinaccelerator. If there is only one voice makes the judgement on which startups are innovative enough, eventually it might kill the real innovation in China.[image via http://genychina.com/tag/innovation-works/]