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With the issued document “Suggestions on the Policy of Further Promoting National Entrepreneurship”, Wuxi’s new policy on entrepreneurship was officially released. The new policy has a number of initiative measures and has expanded the beneficiaries, has improved relevant subsidy standards and has consummated the management measures. It is good for these college students attempting to start their business in Wuxi and also shows the determination of Wuxi municipal government to attract 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 of their training: Wuxi local-registered college students who have got Entrepreneurship Training Certificate and have worked or have started their business in Wuxi within 6 months can obtain the training subsidies of RMB 2,000 per person. If college students who have not worked or started their business in Wuxi, they can also obtain 60% subsidies of RMB 2,000 per person. For these non-local-registered college students who participate in training and can work or start their business within 6 months are also capable to get relevant subsidies according to the their working or innovative conditions.
Assurance on housing rent
The new policy also extends the policy of supporting employment to the policy of supporting entrepreneurship in terms of Wuxi college students housing subsidy and it provides these independent entrepreneurial students with housing subsidies. Full-time college graduates with doctor’s, master’s or bachelor’s degrees work in Wuxi and rent rooms can get housing subsidies. The specific standard is RMB 600 per doctor, RMB 600 per master and RMB 500 per bachelor; and the deadline of continual receiving housing subsidies is 2 years.
The new policy also establishes a business mentor 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.