Ex-president of Google China to launch startup incubator

I thought he was starting a Y Combinator alike venture company in China.

Today they released some documents

http://www.innovation-works.com/Media.asp

I dropped my jaw when I read they will actually HIRE technicians and organize them to teams to work on different ideas (most probably not devised by technicians themselves).

It is not a venture company that invests in others, it is a conventional start-up company itself. Shame on them to call it a venture company.

As a student in China with a promising idea and some code written last year, I was looking forward to this, so disappointed right now.