Innovation Myths and the Unsexy Truths About Breakthroughs

By Mark Milian - 2014-04-01T16:15:07Z

Courtesy GGV Capital via Bloomberg

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Going Deep on R&D

Chinese tech companies are used to being derided as clones by people in the West. But why waste years on research and development on technologies that often don't make it out of the lab, says Jenny Lee, a Shanghai-based partner at investment firm GGV Capital.

"Thirty years of R&D doesn't matter if it doesn't make it into a product," says Lee, who has invested in hot Chinese companies including UCWeb, Xiaomi and "Touch is important but only when it gets into a phone."

China has mastered the art of commercializing technology, and that's what real innovation is, she says. In her view, putting technology in people's hands is more important than "deep R&D."

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