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

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

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

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

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

"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

Lee remains a significant shareholder in Sun Hung Kai and acts as a mentor to the Kwok sons, who call him "uncle" and remember how he helped their father.

CNN: Change Is in the Air

Sun Hung Kai emerged in 1972 as a consortium that included Lee Shau Kee, the fabulously wealthy owner of another Hong Kong developer, Henderson Land.

CNN: Change Is in the Air