News

China's young entrepreneurs go home to get rich

Updated: 2016-08-22
( Xinhua )

Employees of start-ups read books at an incubator center in Lanzhou city, capital of Northwest China's Gansu province. Oct 10, 2015. Incubator centers have been set up these years to boost start-ups in Chengguan district of Lanzhou city. Measures including simplifying procedures for licenses application and earmarking subsidiaries have been implemented to reduce the operation cost for the companies in these centers. Up to now, about 30 incubator centers have fostered more than 1000 start-ups in the sectors encompassing e-commercial, bio-pharmaceutical, cultural and creative and internet plus industries. [Photo/Xinhua]

One year later, the government started its support for mass entrepreneurship and innovation and "incubators" emerged, offering workspace and business advice to eager would-be executives.

In Gansu, more than 1,200 college teams have joined incubators, each receiving an average investment of around 300,000 yuan ($45,000 ) by April.

Incubator Chuanshuo Cafe opened in Lanzhou in April 2015 and provides a range of training and services. With Chuanshuo's help, Wei's problems were soon resolved. His company was registered, he has his own offices and a steady flow of customers. His company has an order to develop a mobile app for online payment platform Guaniu.