Eight counties in Shanxi were selected as provincial innovation and entrepreneurship demonstration bases for small and medium-sized enterprises (SME) on Dec 20, according to Shanxi Bureau of Small and Medium-sized Enterprises.
The counties, including Pingding and Qixian, aim to set examples to stimulate innovation and entrepreneurship as well as further the development of SMEs over the coming three years.
They will simplify business registration procedures for local startups. Business incubators like makerspaces will enjoy subsidies which are offered by the governments of these counties in areas such as rent, internet access and public software.
A share incentive mechanism will be improved to encourage professionals in the science and technology sector to establish their own startups. University graduates will also get places, funds and public services from governments if they choose to embark on business ventures.
