Larger hub will be provided for entrepreneurs

A recent report in the local news media reveals that a youth innovation and entrepreneurship hub of about 2 million square meters will be built before 2035.

The hub will be made up of four sectors, a main complex and three functional areas, which are based on the current Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub (E Hub).

The construction of Phase II of the E Hub has been completed, according to the report, adding 19,000 square meters of space for co-working spaces, incubators, accelerators, sharing labs, product testing centers and other facilities.

When the hub is completed, it is expected to form a complete industrial chain and eco-system for entrepreneurship.

Currently, entrepreneurs working in Qianhai are realizing their dreams with the help mainly from the E Hub, which has incubated 388 start up groups, including 190 Hong Kong and Macao groups.

"In Qianhai, we have received many preferential policies, such as reducing the rent of the office spaces, offering free working spaces, providing low-rent apartments and helping enterprises to get financial support," said Zhao Zizhou, founder of AIATOR, an AI-centered manufacturing company, which has got the initial fund from the Qianhai Authority as its project won the second prize in a Qianhai's innovation competition.

Besides of the E Hub, Qianhai has provided various platforms for young entrepreneurs. Qianhai Shenzhen-Hong Kong Fund Town, Qianhai Shenzhen-Hong Kong Innovation Center and Qianhai Shenzhen-Hong Kong Creative Cultural Town have also gathered talents from the mainland, Hong Kong and Macao.

The spirit of innovation and entrepreneurship is in the gene of Qianhai.

When the area was set up, one of its goals is to encourage young people in Guangdong Province, Hong Kong and Macao to exchange ideas, cooperate and fulfill their ambitions in there.

A recent policy says that young entrepreneurs from Hong Kong and Macao will receive subsidies of up to 2 million yuan (US$290,511) if their startups in Qianhai have gone public. The Qianhai authority will offer 50,000 yuan to each of the startups six months after they have settled in Qianhai. The authority will also provide subsidies to the startups for three years, helping cover 80 percent of their rent and the property management fees for the first year, 50 percent for the second year and 20 percent for the third year.