Innovation Works Demonstrates Innovative Investment Modelat First Anniversary------ Twelve Investment Projects and Nearly Two Hundred Staff
(Beijing, September 8, 2010) Today, Dr. Kai-Fu Lee, Chairman and CEO of Innovation Works, along with the core team and the leaders of twelve investment projects, presented the accomplishments of Innovation Works in its first year at thefirst anniversary celebration of the company.Founded in September 2009 in Beijing, by four founders led by Dr. Lee,Innovation Works is an investment company focusing on making early-stagehigh-tech investments, coaching young entrepreneurs, and providing completeservices to help these start-ups. To date, Innovation Works has invested in twelve projects, focusing on the areas of mobile Internet, consumer Internet, e-commerce,and cloud computing. During the past year, the number of staff of Innovation Worksand its investment projects has increased from five people to about two hundredtoday.
Innovation Works offers a highly valuable set of services to entrepreneursincluding: funding, business plan optimization, technology guidance, marketing,human resources, legal assistance and staff training, Innovation Works helps start-upcompanies to achieve a smooth launch and fast growth in the early stage. InnovationWorks has made twelve investments, including:
³Tapas´: An Internet smart-phone operating system (based on Android)tailored for Chinese users.
³Wonderpod´ (Wandoujia): An easy-to-use software ³assistant´ for Android phones. With it, one can download applications, videos, and music withoutconsuming expensive mobile bandwidth, and securely manage and back up personal information.
³Umeng´: An analytics tool for mobile developers in China.
³Photo Wonder´: An international mobile phone software for enhancing andsharing photos.
³Ascending Cloud´: A game publisher built on proprietary technology for developing and publishing social and web games for the over 30 countries.Innovation Works has raised funds from an elite group of investors, with the lead