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Number of new startups continues to rise in Licang

By Hu Qing | China Daily | Updated: 2015-07-30 07:58

Li Song, owner of an energy management company in the coastal city of Qingdao, is glad to see the industrial park where his office is located is going to install his company's ground source heat pump air-conditioning system this year.

The system is expected to save 946 tons of coal for the park every year, in addition to an annual reduction of 2,357 tons of carbon dioxide emissions and 72 tons of sulfur dioxide.

"Embracing new technologies and startups, the Artex 1688 Creative Industry Park epitomizes the excitement for innovation and entrepreneurship in Licang district of Qingdao," said Li, chairman of Fute New Energy.

In the first six months of the year, Licang saw a 49 percent year-on-year increase in new business registrations and 6,396 new companies were founded with a combined registered capital of 5.93 billion yuan ($955 million).

The Licang district government has promoted the idea of starting new businesses and technology innovation.

A series of reforms were introduced to provide more convenient services for startups.

All levels of governments have published their administrative authority checklists, with a reduction of 106 administrative application review items.

Incubators

The district has built 13 technology incubators, including the M6 Startup Park, Huachen Small and Medium Innovation Services, a State-level incubator where 365 enterprises are developing.

There are five startup incubators, 11 startup demonstration bases and four startup training bases operating in Licang. They provide comprehensive support in terms of preferential policies, consulting and other administrative services for newly formed enterprises.

A "maker space" with more than 800 entrepreneurs transforming their ideas into businesses has created 2,300 jobs.

To ensure startups have sufficient financial support, the Licang district government has opened credit lines of up to 150 million yuan for small and medium technology enterprises.

Currently, 14 Licang-based companies are listed on the Blue Ocean Stock Exchange in Qingdao.

The district has provided small-sum-guaranteed loans worth 32.6 million yuan and startup allowances worth 5 million yuan to boost new businesses.

Number of new startups continues to rise in Licang

To provide professional support, the district has encouraged more than 20 local enterprises to build long-term cooperation partnerships with top-notch universities in China, including Tsinghua University.

Innovation has helped create a new age of communications platforms, which cuts costs resulting from intermediate links.

At the Home Service Startup Square, cleaners use an Uber-like mobile sharing app to find work and build connections with customers who live in their neighborhoods and need cleaning services.

In addition to the booming innovation atmosphere, the district's geographic location is also a key factor behind the thriving new businesses in the area.

The district, close to the airport, is serviced by Qingdao's North Railway Station and also connects to Qingdao's new urban center in Huangdao and Hongdao through the Jiaozhou Bay Bridge.

huqing@chinadaily.com.cn

 Number of new startups continues to rise in Licang

The M6 park in the Licang district has lured a number of investors and startup firms. To date, the district has built 13 technology incubators.

 Number of new startups continues to rise in Licang

A view over Qingdao. It is one of China's most beautiful coastal cities and a major seaport and economic center in the country.

(China Daily 07/30/2015 page10)

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