WinHotSpot is a free virtual WiFi router application. It allows you to share internet to mobile devices with one click. WinHotSpot works by sharing internet connectivity from your windows 7 or windows 8 device to your smart phone.
The application has inbuilt repair tools and will install Microsoft Port WiFi Drivers that are required to enable WiFi Hotspot /Soft WiFi Router.
Overall, WinHotSpot has a basic user interface and on testing, is a little buggy, but it does work. It supports Windows 8, has a WiFi Scanner, shows connected clients, and has a bandwidth manager. If you are looking for a simple application that can share an internet connection, then WinHotSpot could be for you.