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The State Council decided new policies and measures to facilitate the development of business startups in order to lead to a new platform for boosting entrepreneurship and innovation at an executive meeting on Jan 28.
The State Council encourages the development of business incubators that pioneer marketization, professionalism, integration and networking to provide startup businesses with an open and comprehensive service platform with lower costs and greater convenience.
"Those polices are made to create a better platform for entrepreneurs and shape a better environment for entrepreneurship and innovation. It is a golden age for entrepreneurs," said Yang Yanru, the head of startup service sector of the Zhongguancun Administrative Committee.
Premier Li Keqiang visited Shenzhen Chaihuo Makerspace during an inspection tour of south China's Guangdong province in January 2015. Many people were impressed by the emerging business development.
In fact, Zhongguancun has also been exploring such new model of entrepreneurship.
Popular innovation incubators including Garage Cafe and 3W Cafe in Zhongguancun Innovation Street have attracted many grass-root entrepreneurs.
Compared with traditional coffee shops, they are more like offices for entrepreneurs and students where the vision of young entrepreneurs takes off.
At present, there are more than 30 such innovation incubators in Zhongguancun, which not only provide office space and introduce investors for entrepreneurs, but also offer space for exchange of ideas.
Zhongguancun is also exploring an integrated ecosystem for entrepreneurial innovation which includes large well-known enterprises, colleges and universities, entrepreneurial finance and entrepreneurial culture.
In 2014, the number of newly established science and technology enterprises exceeded 13,000 in Zhongguancun, according to Yang.
Zhongguancun is the most developed area for entrepreneurship and innovation in China. It has attracted many investors including high-tech entrepreneurs, senior executives from large enterprises and professional service personnel.
