China, UK back young entrepreneurs

China and the United Kingdom are forging strong ties for the future, and are connecting young entrepreneurs from next year to spearhead business innovations jointly.

China and the UK will implement a program to connect young entrepreneurs from the two countries from next year.

Wu Chen, deputy director of The Great Britain China Center, the British partner behind the initiative, told Shanghai Daily yesterday the first steps toward realising cooperation include talking to potential partners, determining mechanisms of cooperation and working out concrete programs.

The initiative is jointly fostered by the All-China Youth Federation and was announced at the Sixth China-UK Young Leaders Roundtable, an event during the Fourth Meeting of the China-UK High-Level People-to-People Dialogue in Shanghai.

We’re looking to bring British universities and government organisations working to promote innovation on board because they’re interested in cooperating with China.

Wu Chen, deputy director, The Great Britain China Center

“Encouraging exchanges of entrepreneurs and organising startup competitions are just some of the ideas at this stage‚” Wu said.

“We’re looking to bring British universities and government organisations working to promote innovation on board because they’re interested in cooperating with China.”

Pei Huan, deputy secretary-general of the China Foundation for Youth Entrepreneurship and Employment and a panelist at the roundtable, said the foundation’s first overseas China Community for Youth Entrepreneurship will open in London tomorrow.

He said the community underlines the growing interest and efforts in establishing incubators benefitting young entrepreneurs from both countries.

Pei said the incubator, run by London-based Cocoon Networks, will help startups access foreign markets and drive international equity investment.

Representatives from politics, NGOs and business at the roundtable discussion also suggested establishing joint venture capital funds between China and the United Kingdom.

This story was published with permission from China.org.cn

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