Zhuhai Hengqin Business services
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INNO Valley HQ, the Macau-Hengqin Youth Entrepreneurship Valley, opened last Monday in the China (Guangdong) Pilot Free Trade Zone (FTZ) (Hengqin Area of Zhuhai). Concurrently, the Peking University Entrepreneurship Training Camp Hengqin Base launched there.
Former Macao SAR Chief Executive Edmund Ho Hau-wah and city Party Chief Li Jia were at the initiation ceremony. Peking University executive deputy president Wu Zhipan; Leong Vai Tac, secretary of economy and finance of Macao; and Mayor Jiang Ling delivered speeches.
Inno Valley HQ
Covering 128,000sqms with floor space of 137,000sqm, the 2 billion yuan ($323 million) valley encompasses business office, commerce, service and residence facilities. The first phase of 30,000sqm has been completed. Eligible are Macao dwellers aged 18 to 45 with permanent residence, or Chinese mainlanders or foreigners with Macao One-Way Permits.
In addition to the free workplace, the valley provides a complete communications network, public service, convention and business centres, exhibition hall and other facilities plus one-stop services combining personnel recruitment, industrial and commercial registration, taxation registration and bank account opening. It also helps services to access intermediaries such as accounting, auditing and taxation firms and management consulting, sci-tech consulting and assets appraisal companies.
The valley has received 166 letters of intent, along with 120 application forms to locate there.The University of Macau and Macau University of Science & Technology have shown intent of branching out in the valley for venture-start-up training, tutoring and internship as well as exchanges of students in Zhuhai and Macao. Meanwhile, mainland universities including Peking and Sun Yet-sun will co-initiate entrepreneurship initiatives and recommend qualified two-area students to be incubated in the valley.
PU Entrepreneurship Camp
On the other hand, Peking University Entrepreneurship Training Camp Hengqin Base, with floor space of 2,376sqm, will create a whole chain of venture- start-up education, tutor service, policy application, industrial service, essential incubation and angel investment. It will also help Hengqin become a demonstration centre of youth cooperation and entrepreneurship of Guangdong-Hong Kong-Macao-Taiwan in the Pearl River Delta, he pointed out.
The camp won the title of Zhongguancun State-Level Innovative Incubator in 2014, and it was the only one awarded the title of the Group Innovation Space (GIS) by Beijing and Tianjin authorities last March. Statistics show that the non- profit entrepreneurship class of the camp has benefitted nearly 100,000 young entrepreneurs.
Industrial tycoons such as Yu Minhong, founder and chairman of New Oriental Education & Technology Group of Beijing; Shenzhen Green Pine Capital Partners co ltd ("GPCP") founder Li Wei; and SAIF Partners chief partner Yan Yan, or authoritative sources like Peking University executive deputy president Wu Zhipan and renowned economist Hai Wen will be invited as tutors.
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