Tianjin is forging a business ecosystem in Binhai New Area, the first special area in the country to practice the twin engines of “mass entrepreneurship and innovation”.
The notion of “mass entrepreneurship and innovation” was first mentioned by Premier Li Keqiang in 2014 to encourage Chinese to do business creatively.
Different departments and functional zones in the New Area are enacting supportive policies, reported the Binhai Times, adding that a many enterprises are providing valuable experience and lessons to the country’s development.
Statistics show that 24 Group Innovation Spaces (GIS) have been set up in the area and another 29 are under construction, contributing to the business ecosystem.
The Tianjin Tencent GIS is located in the area and serves as a key incubator.
“Tencent’s Tianjin branch has converged resources and united with the government, universities and industry alliances to build an integrated service system.” said a Tencent employee responsible for the program.
“Twenty-eight enterprises, with over 80 reserve projects, have joined our GIS and these companies have received A round financing, which adds up to over one billion yuan ($ 154 million),”said the employee.
Li Xingyuan is the founder of Tianjin Global Business Intelligence Software Company. His company was started in 2012 and focuses on information, data analysis, competition monitoring and credit authentication. He just received investment last summer for further development.
“The Tianjin High-Tech Area is divided into seven zones with different functions,” said Huang Yalou, a science and technology official, adding that every zone will use its advantages.
Huang said that an industrial technology alliance will attract talent and business to the Binhai New Area.
Tianjin is forging a business ecosystem in Binhai New Area, the first special area in the country to practice the twin engines of “mass entrepreneurship and innovation”.
