The Lujiazui area of Shanghai's Pudong New district will be getting a new business startups incubator this September, which it believes could become a new base for young entrepreneurs.

The 120,000-square-meter facility will have an innovation center, finance office, and apartments, as well as cafes, a book bar and library, arts center, meeting rooms, restaurants, and other daily necessities. It is also planned with a student venture office of New York University Shanghai, a finance school of Tsinghua University, and a YOU+ entrepreneur service agency to help university graduates with their business.

A co-founder, Yang Zhiwei, explains that some of the major problems for business startups and entrepreneurs are the lack of funds, market information and qualified personnel, so, the center will combine business resources from universities and funding offices to help meet their living, working and social needs and help them face the challenges.