Entrepreneur Of The Year Goes To Naibo Yu

China's Naibo Yu has been named Entrepreneur of the Year following the success of his cloud computing company.

The businessman was given a loan in 2008 to found HowLang Group, which makes software products that help pupils with different needs learn more effectively.

It uses cloud computing to create a teaching platform that can be used by teachers, pupils and parents.

Since then, the company has grown by more than 5,000% every year and now employs 200 people, with a turnover in 2011 of $20m (£12.4m).

The 27-year-old beat contenders from more than 30 countries to win the top prize at the Prince of Wales' Youth Business International award ceremony.

The panel of judges, which included the boss of Barclays' Corporate and Investment Banking, Rich Ricci, and Wagamama founder Alan Yau, said HowLang Group could revolutionise the education industry.

Naibo's business was chosen because of its technical innovation, sustainable business model and potential for growth, the judges added.

"This year saw some particularly impressive entries, but for us, Naibo Yu really stood out," Mr Ricci said.

"His focus on innovation and his dedication to developing his product for education makes Naibo an excellent role model for anyone looking to start their own business."