Wuxi-based business incubator, Xingchuang Works in Huishan district, was recently approved as a "national maker space" by the Torch High Technology Industry Development Center, Ministry of Science and Technology.
Xingchuang Works specializes in helping new and start up business grow and develop through a range of services.
As the city's first "national maker space", Xingchuang Works will also be brought in line with the management and service system for other national high-tech business incubators.
As of now, a total of 30 start-ups, covering culture creativity, information technology, e-business, bio-pharmaceutical, environment protection and services, have landed in the maker space, producing an output value of some 27 million yuan ($4.14 million) in 2015.
Mass entrepreneurship and innovation will serve as one of the twin engines of the economic development, said vice-premier Zhang Gaoli at the China Development Forum 2015 last March.
Wang Yurong, vice-general manager of the Xingchuang Works, said that the maker space regards partnership as its core concept, to boost mass entrepreneurship and innovation.
In addition to low-cost support services, with the likes of company registry, talent recruitment, pioneering instructions and accounts keeping, Xingchuang Works organizes salons, enterprise training, road shows and sharing sessions regularly, as it teams up with well-known entrepreneurs, economists, entrepreneurship mentors, investors and third-party service agencies.
"We usually invite veterans to help start-ups appraise the market values and business models and avoid detours," Wang said.
The company's venture capital fund will serve as a financial back-up for young projects related to culture creativity, online games and environment protection and university students' innovative undertaking.
Recently, Xingchuang arranged for entrepreneurship instructors for the Chuangyou Network's application for three game software copyrights and is assisting a university student team that highlights research and development in product marketing.
Xingchuang Works is always looking for innovative business models and is working towards the goal of incubating ten enterprises, serving 30, and applying for ten intellectual properties every year, according to Wang.
Edited by Owen Fishwick
