A total of 23 teams from the United States, Australia, the UK, Israel and China entered the final round of the competition, hoping to secure funding. The competitors also had the chance to obtain investment and other preferential treatment from the government of Chaoyang district.
"The number of startups led by Chinese students is increasing in recent years," Philip Hao, chairman of the Young Entrepreneur Society Global, or Yes Global, said, adding that the organization put together the UK round of the startup competition that Yao's team participated in.
The rising trend was a result of policy supports from the two governments and the new way of doing business in the Internet era.
A large number of the Chinese student-led startups he has seen focus on online service. This is no coincidence, since even a one-man team can jump-start a business such as selling on eBay.
"But running a company is not just coming up with great ideas or being venturous," Hao said. "Nowadays, market competition is getting more intense with young entrepreneurs fighting to make it to the top tier. So, it is more about how to establish systematic management and how to control budgets. You need to attend to every detail."
In Yao's case, the local government in Suzhou has offered help to his team in securing investment in the initial phase. The University of Warwick has also promised to support them in their project's future development.
"Without such support, it would be much harder for us to enter the business world," Yao said.
Despite the challenges, UK universities quite often maintain an open mind on student entrepreneurship.
"Enterprise and startup companies are an increasingly important option for university students of all nationalities," Keith Burnett, vice-chancellor of the University of Sheffield and member of the British Prime Minister's Council of Science and Technology, said.
"The University of Sheffield encourages students to become actively involved in its enterprise activities and has the largest program of students in free enterprise in the UK," he added.
An international team of Sheffield students, working together on startup ventures in the areas of health and support for people in need, reached the global finals of the Enactus World Cup in Johannesburg in South Africa this month.
The international event is aimed at promoting entrepreneurial action as a catalyst for progress.
The university also makes funding and professional advice available to students with a great business idea.
"Our aim is that support of innovation, entrepreneurship, team working, and new business support is embedded in teaching in such a way that students are able to lead and develop ideas either as start-ups or within existing companies," he said.
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