The college students become a major part of the public entrepreneurship and innovation.
 

In order to support start-ups by college students, Tianjin has launched different kinds of support, including entrepreneurship training, guaranteed loans, house subsidies, and social security subsidies, according to a conference on entrepreneurship and talent cultivation in Tianjin on 9 June.

 

Zhao Haishan, director of Tianjin Municipal Science and Technology Commission said that the business registration requirements will be loosened. The required first time capital contribution of college students who establish start-ups can be as low as zero.

 

In addition, college entrepreneurs who have received business registrations may apply for small guaranteed loans of up to 300,000 CNY (48,360 USD). Start-ups that operate stably and provide more than five job opportunities may receive further financial support from the government. The maximum loan amount of loan may reach 500,000 CNY (80,600 USD), to be paid off within two years following national and municipal interest subsidy policy.

 

Flexible program duration is available in universities. College students may suspend their studies to work on business. Such activities are included in practical education and are able to turn into practical education credits.

 

College students who need to rent offices for their start-ups can receive 1800 CNY (290 USD) monthly subsidies for two years.

 

College entrepreneurs, students employed by start-ups and recent graduates may receive position subsidies for one year and social security subsidies for three years.

 

College students are also given free entrepreneurship training, which may be applied for in entrepreneurship departments on campus. For graduates, the trainings can be applied for at human resources and social security departments with ID cards and entrepreneurship registrations.

 

In order to provide college students with premium spaces for work, networking, social activities, and resources sharing, and encourage the transformation of creative ideas into business, Tianjin will also establish low-cost, convenient, complete, and open public entrepreneurship spaces especially for college students.

 

Incubators which meet requirements can apply for subsidies. The incubators must be operated by management teams, have construction area of no less than 1,500 square meters, attract more than 30 first-time college entrepreneurs, and provide more than 100 job opportunities.
 

The government will provide between 500,000 CNY (80,600 USD) and one million CNY (161,200 USD) financial support to incubators, depending on how many entrepreneurs they attract and how many jobs they create.

 

Wang Jing, director of Tianjin Municipal Education Commission said that every college in Tianjin will establish at least one public entrepreneurship space by 2016. The total number of public space will exceed 55. A system of public entrepreneurship spaces will be formed in colleges.

 

"The incubation period of start-ups by college students will be extended from three years to seven, which is from two years before graduation to five years after graduation. College entrepreneurs from outside Tianjin can apply for Tianjin household registration and enjoy the support of preferential policies," added Wang.

 

The policies started on June 1 this year and will be ended on May 31, 2020.

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