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Wuxi’s new policy on university students' entrepreneurship

(en.wuxi.gov.cn)
Updated: 2015-01-30

Wuxi’s new policy on entrepreneurship,the “Suggestions on the Policy of Further Promoting National Entrepreneurship”, was officially released.

The new policy has a number of initiatives and measures and has also increased the number of beneficiaries, by improving relevant subsidy standards and effectuating the management measures. It is a good opportunity for these college students to start up their business in Wuxi and attracts more students to work and live in Wuxi.

No worry for training

Wuxi’s new policy on entrepreneurship provides college students with higher subsidy standards. College students in Wuxi who have achieved an Entrepreneurship Training Certificate and have worked or started their business in Wuxi within 6 months can obtain the training subsidies of RMB 2,000 per person. The college students who have not worked or started their business in Wuxi can also obtain 60% subsidies of RMB 2,000 per person. For these non-local-registered college students who participate in training and start their business within 6 months can also get relevant subsidies according to the their working or innovative situations.

Assurance on housing rent

The new policy also extends the policy in providing these independent entrepreneurial students with housing subsidies. Full-time college graduates with doctorates, masters or bachelor’s degrees work in Wuxi can get allowances for renting fees. The specific standard is RMB 600 per doctorate, RMB 600 per masters and RMB 500 per bachelor degree every month, and the deadline of continual housing subsidies is two years.

Tutor guiding

The new policy also establishes a business mentorship system. Some departments employ successful entrepreneurs, venture capital experts and social professionals to strengthen the expert guiding team and sign the “one to one or one to more” guiding agreement with college students. To provide them with policy explanations, project promotions, risk assessments, opening consultations, financial services and other targeted guidance and services. Tutors guiding students with initial start-ups and steady operations for more than 6 months can obtain some guiding awards.