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A three-year program to encourage Hangzhou college students to start their own businesses starts on January 1.
It aims at establishing more than 3,000 companies set up by college students, financing around 600 innovation programs of college students.
Grants would be subsidized for free. College students could apply for six levels of financial aid, namely 20,000 yuan (US$3,280) and 50,000, 100,000, 150,000 and 200,000 yuan.
Enterprises with annual revenue of more than 1 million yuan and creating more than 100 jobs could be awarded 100,000 yuan in aid.
The plan also includes other preferential policies, such as social insurance subsidies and recruiting allowances.
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