China's Startup Ecosystem Policy

Abstract

The implementation of the “mass entrepreneurship and innovation” strategy in 2015 has led to the establishment of a mutually organic innovation ecosystem through various platforms among the government, corporations, VCs, universities, and research institutes. In addition, in the process of forming a startup boom through startup policy, China has presented an opportunity for each actor to develop and transform into an innovation agent that forms the national innovation ecosystem of China. In the future, it is expected that China’s startup strategy will be pursued as a part of building a national innovation ecosystem by connecting with development strategies for new industries and the science and technology sectors. It is noteworthy that China’s startup ecosystem is led by the government, which shows a different development process from the US market-led startup ecosystem. China’s establishment of a startup ecosystem is highly linked to its strategies to develop new industries and science and technology. And in response to the US technology blockade, the Chinese government will emphasize open innovation and implement a policy of expanding startup and innovation cooperation with technology-advanced countries such as Germany, Israel, Japan, and France.