Haven for entrepreneurs opens in Shanghai
A community for entrepreneurs was unveiled in Shanghai’s Lujiazui business district on July 7 and it offers a holistic range of services for young people with business plans in emerging financial industries.
According to experts, this haven for budding entrepreneurs would likely stand out in comparison to similar zones in Beijing and Shenzhen of South China’s Guangdong province, as Shanghai has a bigger reputation for being a renowned financial center.
“The community is built in the Lujiazui area so that entrepreneurs can take advantage of the favorable resources in this core financial zone and benefit from the latest financial innovation policies,” said Wang Hua, deputy director of Lujiazui Finance and Trade Zone Management Committee.
Developed by Shanghai Xingyue Investment Co Ltd, the community provides services including product design, financing and auditing. It can also facilitate communication with potential investors for fund-raising purposes, or help with the organization of tutorship sessions and road shows.
Moreover, living and social needs will also be catered to. In addition to accommodation options, office spaces and incubation centers, amenities like convenient stores, laundry rooms, bookstores and a cafeteria will remain open round the clock.
“Foreign experts specializing in starting business ventures and professional entrepreneurial advisers who have clients in Sillicon Valley were invited to provide ideas for this community. We wanted this community to be one with a pioneering spirit and fun atmosphere for startups and innovators,” said Yang Zhiwei, vice president of Shanghai Xingyue Investment Co Ltd.
The reception to this new development has been good, with Harvard graduate Wu Xinhong already planning to settle in the community.
“The array of resources offered is the main reason we would move to this community. We are very satisfied with the facilities and reasonable pricing here and are looking forward to it,” said Wu, who has formed a team that does business in Internet banking.
Entrepreneurship and innovation are currently the hottest topics in China following President Xi Jinping’s recent call for Shanghai to become a global center for innovations in science and technology. This entrepreneurs’ community looks to be yet another component in the blueprint to attract innovators from within China and abroad.
It is estimated that 20,000 of some of the world’s brightest talents are gathered in Lujiazui, a bustling district that is home to more than 3,000 financial institutions, and where 300 companies have headquartered their operations.
“The concentration of institutions and talents, as well as the active financial transactions in Shanghai is unique in China,” said Zhang Yuchen, professor of business administration at Shanghai Tongji University.
“While Beijing and Shenzhen offer entrepreneurs support in technology, Shanghai helps them with an integrated business model,” Zhang added.