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500 student start-ups benefit from entrepreneurship fund

THE Shanghai Technology Entrepreneurship Foundation has supported more than 500 local students to start a business since it was set up in 2006, the foundation said at the Dark Horse Entrepreneurship Competition today.

Promising start-ups run by college students can get to 300,000 yuan (US$47,628.5) of interest-free loans and are required to repay the loans within three years. So far, more than 300 start-ups have returned their funding or part of it, the foundation said.

About one-third of them have paid back all their funds, which means they are running very well. One-third died and another one-third reported mediocre performance, it said.


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