The Dream Factory of China

The Qianhai Shenzhen-Hong Kong Innovation and Entrepreneurship Ecosystem, which aims to support startup projects and better manage venture capital resources, was launched yesterday morning in Qianhai.

Tian Fu, a member of the Standing Committee of the Shenzhen Municipal Committee of the Communist Party of China and director of the Qianhai and Shekou areas of the China (Guangdong) Pilot Free Trade Zone in Shenzhen, said encouraging innovation and being tolerant of failure is in the genes of the city. Qianhai as the only Shenzhen-Hong Kong cooperative zone is working hard to help youth in Shenzhen and Hong Kong achieve their dreams. In addition to the Qianhai Shenzhen-Hong Kong 2nd Youth Maker Camp, Qianhai has recently established a Shenzhen-Hong Kong Innovation Center, expecting to become the first stop for Hong Kong youth in search of their dreams on the mainland.

Zhu Dongfang, who is responsible for IDG Capital in China, said at the launch ceremony that IDG will set up its first incubator in China in Qianhai because he believes Shenzhen is the best place for startup teams and Qianhai will be advantageous to IDG.

Ng Kit-chong, chairman of the Hong Kong Youth Group Federation, said the mainland is the future for Hong Kong entrepreneurs, thus he hoped to see more Hong Kong youth seeking opportunities on the mainland.

“I recently discussed with some young Hongkongers, they told me that space for development in Hong Kong has become much smaller. I hope they can cross the river and get to know Qianhai and other places in our homeland, where they will find many creative spaces and can live a quality life,” Ng said.

Tian said in the first half of the year, R&D input accounted for 4.08 percent of the city’s GDP and PCT international patent applications in the city accounted for 51.8 percent of the country’s total.