a great 5 part series describing the chinese innovation/funding process.

http://steveblank.com/2013/04/10/china-the-sleeper-awakens/
http://steveblank.com/2013/04/11/chinas-torch-program-the-glow-that-can-light-the-world-part-2-of-5/
http://steveblank.com/2013/04/12/the-rise-of-chinese-venture-capital/
http://steveblank.com/2013/04/13/zhongguancun-in-beijing-chinas-silicon-valley-part-4-of-5/
http://steveblank.com/2013/04/14/china-startups-the-gold-rush/

Some interesting statistics like:
For a hundred years the fantasy of global marketers was, “ if only everyone in China would buy one…”  That day is final here. The numbers of mobile subscribers are staggering – 1.18 billon, 260 million are 3G. Chinese Internet companies live in a large closed, self-contained ecosystem with 564 million web users with 420 million having mobile web access. 309 million use microblogs and 242 million shop online.....

While not running a startup myself, Steve Blanks books have been an interesting read.

With thanks,
John Gitau