Xi'an Launches Bid to Become China's Startup Hub With a Series of New Graduate Policy Initiative

RMB 272M Funding Grant for Graduate Entrepreneurs

XI'AN, China, June 27, 2019 /PRNewswire/ -- Xi'an, the capital city of China's Shaanxi province, announced the launch of a series of new startup policy recently. The policy aims to leverage the potential of local graduates to make the city the preferred destination for startups in China. Included in the initiative is a series of support packages ranging from, direct funding, mentorship, incubation and project matchmaking.

Policy Initiative at a Glance:

• Simplified Registration Process: Consolidated startup policies are launched to simplify the procedure of company registration, and provide tax deduction support, training, mentorship and funding support.
• Supported Incubation: Xi'an aims to create 50 incubators, 100 enterprise centers and 500 internship centers in three years to encourage graduates to start their businesses.
• Funding: A new fund of RMB 3 million in financial loans with interest subsidy will be made available for eligible small and micro-enterprises. Qualified graduates will also be able to apply for small-sum loans of up RMB 1 million and part of their basic insurance covered under the scheme.
• Enhanced Infrastructure: The Employment and Entrepreneurship Alliance (EEA) for College Students will be formally established to bring universities, students, government and enterprises together to facilitate ongoing support to small and medium-sized businesses.
• Project Libraries: Project libraries at city and county level will be created to assist in startup training, project matching and mentorship programs.
• Mentorship Program: A team of 132 experienced experts will work with the government, institutions and entrepreneurs to provide additional guidance and direction to future leaders.
• Events Calendar: A strong network of incubators, a pool of experienced capitalists, a host of governmental backed programs will be knitted together by dozens of events to be held throughout the year.

Xi'an will implement its new startup policy through a conducive startup ecosystem designed for inclusive growth. Since the launch of the Xi'an Startup Policy, more than RMB 272 million has been granted, and 528,000 jobs created alongside five national-level and 23 province-level incubators where over 3,123 startups have been created.

Past events include the launch of the "2018 Innovation Xi'an Entrepreneurship competition B&R Create@Alibaba Cloud Startup Contest Xi'an"; the "2018 Star Venture Enterprise of Xi'an". This year, more events including "Star Entrepreneur of the Year Election" and "University Maker Festival" will be launched.

The Municipal Government of Xi'an will distribute information on the latest graduate policies via a diverse range of social and new media channels, such as the local government's official WeChat account, in a bid to engage higher numbers of potential young entrepreneurs over the next few years.

For more information, please visit http://cbe.xa.gov.cn/default.html.

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