A helping hand for start-ups
February 25, 2012, Saturday
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Print Edition
Print Edition
THE Zizhu office of Youth Business China, a nonprofit organization, plans to provide 6 million yuan (US$967,741) in loans this year to young people who want to start up their own businesses.
It is planning to assist up to 80 start-up projects.
To augment its funding, the office will also expand its volunteer team, business people and academics who mentor young entrepreneurs by up to 50.
The agency's busy schedule also includes a salon for online game companies, a lecture how fundraising and a conference for mentors.
The Shanghai Zizhu Start-Up Fund, with 17 million yuan of financing on tap, was set up several years ago to provide interest-free, unsecured loans and business training to people between 18 and 35 years of age.
The two-year loans, ranging from 50,000 yuan to 100,000 yuan, are provided under the auspices of grants from the Zizhu Science Park, the Minhang Science and Technology Commission and Youth Business China.
Last year, it assisted 56 budding entrepreneurs, provided loans of 5.96 million yuan and added 58 mentors. Most of the assisted start-up businesses are involved in information technology, advanced industrial materials, green energy, aerospace and bio-pharmaceuticals.
Wang Jialiang, a postgraduate from Jiao Tong University who received help from the office when starting his business in smart-phone technology, attended this year's the World Economic Forum in Davos, Switzerland, along with five other entrepreneurs supported by Youth Business China.
It is planning to assist up to 80 start-up projects.
To augment its funding, the office will also expand its volunteer team, business people and academics who mentor young entrepreneurs by up to 50.
The agency's busy schedule also includes a salon for online game companies, a lecture how fundraising and a conference for mentors.
The Shanghai Zizhu Start-Up Fund, with 17 million yuan of financing on tap, was set up several years ago to provide interest-free, unsecured loans and business training to people between 18 and 35 years of age.
The two-year loans, ranging from 50,000 yuan to 100,000 yuan, are provided under the auspices of grants from the Zizhu Science Park, the Minhang Science and Technology Commission and Youth Business China.
Last year, it assisted 56 budding entrepreneurs, provided loans of 5.96 million yuan and added 58 mentors. Most of the assisted start-up businesses are involved in information technology, advanced industrial materials, green energy, aerospace and bio-pharmaceuticals.
Wang Jialiang, a postgraduate from Jiao Tong University who received help from the office when starting his business in smart-phone technology, attended this year's the World Economic Forum in Davos, Switzerland, along with five other entrepreneurs supported by Youth Business China.
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