THE Qingdao Startup Association, the first for startup businessmen in Qingdao, was set up Jan. 7 at Qingdao College Students Startup Base.

    More than 130 people from more than 20 industries have joined the association. Liang Fudong, president of Qingdao Huaren Century Group, was elected chief.

    Members of the association are eligible to apply for startup funds of up to 20 million yuan (US$3.02m).

    The association will also provide training, financial support, and technological consultation to startup firms. A group of entrepreneur volunteers will offer further help.

    The college student startup fund mainly targets those within five years of graduation. Companies chosen by the fund will be provided with offices at discounted rent and startup training. (Chen Ting, Jia Feng)