As one of the birthplaces of modern manufacturing in China, Changzhou has never lacked the spirit and gene of entrepreneurship. Countless entrepreneurial legends have inspired the successors in Changzhou to continue to forge ahead with the innovation and entrepreneurship campaign.
Changzhou Teng’en Group Incorporated is among the country’s top three largest suppliers of laser equipment and optical components with its annual output value expected to reach 600 million yuan this year against its short history of no more than 3 years.
In late 2013, Zhang Chonghao, founder of Teng’en, chose Changzhou as the place for him to undertake business startup due to the city’s complete industrial support system and the preferential policies for entrepreneurship.
Changzhou Science and Education Town, where Zhang’s company is based, is the core of the innovation and entrepreneurship campaign for Wujin district and also the province’s only national demonstration base for innovation and entrepreneurship.
The Wujing innovation and entrepreneurship base has carved out a new path of innovation and entrepreneurship that integrates policy support, carrier construction, and entrepreneurship training and entrepreneurship services.
The base is now home to 5 million square meters of innovation and entrepreneurship carriers with the establishment of 7 national incubators and 800 startups being incubated.
The Jia Yi Du Maker Space, the province’s first maker space devised by the communist youth league committee, has played an active role by incubating nearly 200 youth innovation projects over the past three years with one listed on the new third board market and 2 on the OTCBB market.
In 2015, Changzhou Municipal Youth League Committee took the lead in the province to introduce low interest rate loans to youth entrepreneurs with 600 million yuan granted to support more than 1000 youth in their entrepreneurship endeavors.
Changzhou now registers 13 collegiate entrepreneurship parks at the municipal level, reaching out to 500 collegiate startups across the city.
In the first three quarters of this year, Changzhou launched entrepreneurship training for 10000 people and gave entrepreneurship assistance to 12100 people, contributing to the employment of 47200 people.
