Thirteen business plans by college students and post graduates have drawn investments from various companies as well as the government, amounting to a total of nearly one million US dollars.
The business plans all come from a recent competition in Shanghai encouraging students to start up their own businesses. Organizers say students nowadays have a growing awareness of the market.
Our Shanghai correspondent Chen Simeng takes a closer look.
 The competition for start-up business by university and postgraduate students attracted over 220 business initiation plans from 26 universities in the eastern commercial hub this year.
Shao Shizhi is an official with Shanghai Children’s Work Coordination Committee, the organizer of the competition. He says the competition, the fourth one this year, works to encourage college students to start up their own businesses.
“We hold such competitions to develop an awareness of the ability for innovation and starting businesses among university students. We would like to see more technological creations by students finding their place in the market. We hope to promote the employment rate of graduates by inspiring more students to start their own businesses.”
The official says the competition has attracted more and more student teams with increasingly better business plans each time it has been held, particularly this year.
He says more student teams now bear in mind to a greater degree how they will put their business plans into practice.
Departing from past participants, the teams in the competition now are in it for more than just the prizes that may be won.
“In the past, the competition focused on the business initiation plans themselves, ignoring their practical uses. But now many students not only take part in the contest, but also want to promote their plans on the market. Therefore, more participants draft their plans with more consideration of the market potential or operability of their businesses.”
Actually, many teams have already set up their companies before participating in the competition. Taking part in the competition is simply a way to further promote their business.
Chen Simeng, CRI News, Shanghai
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Director: Liu Chi