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Shanghai's action plan to grow start-up culture


03-30-2015 04:15 BJT

Shanghai is known for its important economic role in the country is now taking a big step in promoting entrepreneurship.

An action plan was just released, aiming to turn Shanghai into a destination and hotbed for start-ups.

It maps out the future role of and support from the government, including setting up several business colleges, increasing financial support for startups, and creating more connections with the international community. Among which, the most eye-catching action is the establishment of a union of more than forty organizations focusing on innovation, incubation and starting a business.

The union will be run by the members, and hopes to become a platform to maximum the the resources available to businesses.

"Many people may have the impression that the entrepreneurial culture in China is not so active. But in fact, there are a number of organizations that are helping many startups. The problem is we don’t have a mechanism or simply a platform that can gather all these resources and get everybody together to communicate," said Chen Jie, deputy director of Shanghai Science and Technology Committee.

"So now, these organizations voluntarily set up this union. And as for the government, our role is to be supportive and let them be more creative and give them room to do what they want."

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