Y Combinator plans to launch its startup incubator program in China as soon as next summer, and former Baidu senior executive Lu Qi will be the head of Y Combinator China, Bloomberg reports.
Mr. Lu abruptly left Baidu in May after joining the Chinese search provider last year. Prior to Baidu, he had spent more than seven years at Microsoft. Over the past few months Chinese media reports have speculated about where Mr. Lu would go next.
In his new role, Mr. Lu has his task cut out for him. The decision to launch Y Combinator China comes as escalating political and economic tensions between the U.S. and China are creating greater challenges for American companies trying to do business in China.