Shanghai's annual entrepreneurship week started yesterday at the historic site of China's earliest cotton mill machine factory, which is sited in Yangpu District.
Demonstration startup projects are selected for awards at the Global Entrepreneurship Week to support the national government's calls for more entrepreneurship-focused courses.
Features of this year's entrepreneurship week are that investors will sponsor startup applicants on site, and donations from the city's Jade Buddha Temple, a major sponsor for local young entrepreneurs.
The event is being held at Changyang Campus, an innovative park renovated from a historic East China cotton mill built by Japanese businessmen in 1920.
The city government-backed Shanghai Technology Entrepreneurship Foundation for Graduates has sponsored over 1,800 startup projects since its establishment in 2006 with investments from individuals and companies, the foundation announced at the opening session of week.
The awarded projects include Taoxixi, a company offering washing services to university students, and Shanghai Yin Ming Electronic Co, which helps to build databases and applications.
Meanwhile, the city's Jade Buddha Temple announced yesterday it will sponsor a further 23 startup projects. Each company can receive a fund from 50,000 yuan (,530) to 200,000 yuan.
The temple has sponsored local graduates to set up 108 startups since 2009.