TENCENT’S startup space vows to support over 10 million entrepreneurs and cultivate 200 billionaires by 2020, the Shenzhen Metropolis Daily reported yesterday.

    The city has approved the establishment of 10 startup bases in Shenzhen this year, including three startup bases in Futian, Luohu and Longgang districts, three startup bases run by Shenzhen Graduate School of Tsinghua University, Shenzhen University and Shenzhen Polytechnic, and four startup bases operated by enterprises such as Tencent.

    Li Tao, director of operation of Tencent’s startup space, said that the company is aiming at offering support to 10 million entrepreneurs, incubating 1,000 companies with market capitalization of over 100 million yuan (US$14.54 million) and cultivating 200 billionaires by 2020.

    The city’s deputy mayor, Ai Xuefeng, presented certificates to representatives from 10 startup bases Monday at the Civic Center.

    Ai said that in recent years the city had introduced a wide range of policies and measures to optimize the support system for startups and entrepreneurs in a bid to stir the city’s innovative energy.

    (Zhang Yang)