Qi Lu, Ex-COO of ‘Chinese Google’ Baidu, has recently been appointed as CEO of Y Combinator’s (YC) new China-based division.
The Silicon Valley-based entrepreneurial accelerator, Y Combinator, has been behind some of the largest startups such as Dropbox, Airbnb, Coinbase, and Reddit, has released that the company has launched a new China-based division. With creating a number of of successful since its launch in march 2005, the company is consistently among the top US accelerators.
Qi has also been announced as the head of the new division. Sam Altman, YC’s President, said that he has the expectation Qi will “build a long-term local organization that will combine the best of Silicon Valley and China and create a lot of innovation.”
Sam Altman expressed in a blog post:
“Qi embodies all of these values, and China has been an important missing piece of the puzzle– the entrepreneurial energy and talent there is amazing force. Qi will be able to take what makes YC work and adapt it for China.”
Qi revealed in an interview with local media outlet 36Kr, published on August 15, that he is “optimistic about blockchain technology,” expanding upon its benefits the protection of privacy and data integrity. Qi also explains that “blockchain technology may bring innovation in the long-term incentive mechanism.”