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A new beginning of entrepreneurship and innovation

Updated: Feb 13,2015 4:25 PM     chinadaily.com.cn

“A few days ago, a foreign friend told me that Zhongguancun is like Silicon Valley in the US, well I would like to say Zhongguancun is just Zhongguancun of the world,” claimed Liu Chengcheng, founder of 36 Kr, at the launching ceremony of the “China entrepreneurs action” in Beijing on Feb 4.

A progressive project on China’s entrepreneurship and a demonstration project on the crossover and integration of the Internet, initiated by the Ministry of Science and Technology and the Zhongguancun administrative committee, were launched at the ceremony, marking the start of the action.

Zhongguancun, as a forerunner of innovation and entrepreneurship, will take new measures to promote the action.

Major support for new forces of entrepreneurs

Key employees of leading enterprises, veteran entrepreneurs, the “post-90s” generation, and overseas entrepreneurs have become the four main forces of entrepreneurship in Zhongguancun.

However, venture capital is a common problem faced by all the entrepreneurs.

The progressive project will help solve the problem by establishing three different kinds of angel investment funds. Meanwhile, the Zhongguancun administrative committee will invest in angel investment and venture capital funds set up by institutions including venture capital institutions, colleges and universities, leading enterprises and technological business incubators in Zhongguancun.

A new environment for crossover integration

“The crossover and integration of the Internet not only brings benefits to the transformation of the economic development mode, but also provides opportunities for business transformation. Enterprise informatization has shifted from computerization and information to networking, which will bring new opportunities for the development of enterprises,” said Wang Wenjing, president of Yonyou Group Co.

More and more enterprises will get diverse opportunities for development with the implementation of the demonstration project.

According to the project, Zhongguancun will implement 10 “Internet +” industrial innovation projects to deepen the integration of the Internet and other industries such as industrial production, finance, construction and transportation.

Entrepreneurs will enjoy a new environment for crossover innovation and entrepreneurship with lower costs and fewer barriers.

Establishment of 500 ‘mass maker space’

The term “mass maker space” refers to entrepreneurial platforms that provide services from entrepreneurial projects to industrialization for enterprises with features of marketization, professionalism, integration and networking.

The construction of “mass maker space” was regarded as a major task by both projects.

By 2020, Zhongguancun will set up more than 500 “mass maker space” including 80 innovative incubators, 50 business service institutions overseas, 20 youth business apartments and 10 entrepreneurial communities.

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