 |
|
Authorities announced the opening of a business incubator at an inauguration ceremony in Anting town, Jiading district of Shanghai, on Nov 5. [Photo/jiading.gov.cn] |
In line with the national strategy of mass entrepreneurship and innovation in the Internet age, the first business incubator in Anting town, Jiading district of Shanghai, started operation on Nov 5, local media reported.
The incubator has a 50-million-yuan ($7.9-million) investment fund that will be offered to start-up companies for their R&D and product promotion. It also has a 1,000 square-meter office area that will be rent-free for newcomers for six months. In addition to the fund and office area, the incubator also offers professional services to start-ups to help them with registration, finance and talent recruitment.
So far, 12 emerging companies have moved in the incubator, each with an annual output value of over 10 million yuan. Tan Chenjie, CEO of a cultural communication firm, said that the incubator made it easier for them to raise money and helped them lay a solid foundation for the company's future development.
Authorities said that they planned to take advantage of Anting's status as the International Automobile City to attract more companies in auto finance and smart-connected cars. They will also seek cooperation with top Chinese universities or enterprises to attract more talented personnel.
The authorities have set a goal of increasing the number of companies registered in the incubator to nearly 50 in 2016 and to about 100 in 2017.